The stock of Acadia Realty Trust (NYSE:AKR) gapped down by $0.06 today and has $32.63 target or 8.00% below today’s $35.47 share price. The 7 months technical chart setup indicates high risk for the $2.85B company. The gap down was reported on Oct, 4 by Barchart.com. If the $32.63 price target is reached, the company will be worth $228.00 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 2.12% or $0.77 on October 3, hitting $35.47. Acadia Realty Trust (NYSE:AKR) has risen 4.60% since March 1, 2016 and is uptrending. It has underperformed by 7.62% the S&P500.
Analysts await Acadia Realty Trust (NYSE:AKR) to report earnings on November, 1. They expect $0.39 earnings per share, 0.00% or $0.00 from last year’s $0.39 per share. AKR’s profit will be $31.34 million for 22.74 P/E if the $0.39 EPS becomes a reality. After $0.37 actual earnings per share reported by Acadia Realty Trust for the previous quarter, Wall Street now forecasts 5.41% EPS growth.
Acadia Realty Trust (NYSE:AKR) Ratings Coverage
Out of 3 analysts covering Acadia Realty Trust (NYSE:AKR), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Acadia Realty Trust has been the topic of 3 analyst reports since November 9, 2015 according to StockzIntelligence Inc. BTIG Research initiated Acadia Realty Trust (NYSE:AKR) on Thursday, August 25 with “Neutral” rating. The rating was maintained by RBC Capital Markets on Monday, November 9 with “Outperform”. The stock has “Buy” rating given by Citigroup on Friday, August 12.
According to Zacks Investment Research, “Acadia Realty Trust is a fully integrated, self-managed and self-administered equity REIT focused primarily on the ownership, acquisition, redevelopment and management of neighborhood and community shopping centers.”
Insitutional Activity: The institutional sentiment increased to 1.9 in 2016 Q2. Its up 0.25, from 1.65 in 2016Q1. The ratio increased, as 11 funds sold all Acadia Realty Trust shares owned while 41 reduced positions. 17 funds bought stakes while 82 increased positions. They now own 77.05 million shares or 4.65% more from 73.62 million shares in 2016Q1.
Voya Inv Mgmt Limited Company last reported 38,822 shares in the company. Credit Agricole S A accumulated 0% or 25,467 shares. Proshare Advsrs Limited Liability Company holds 0% or 10,272 shares in its portfolio. Blackrock Invest Mngmt Lc accumulated 0.01% or 318,620 shares. Vanguard Grp Inc owns 11.09 million shares or 0.02% of their US portfolio. D E Shaw Incorporated has 0% invested in the company for 29,917 shares. Sumitomo Mitsui Tru Inc has invested 0% of its portfolio in Acadia Realty Trust (NYSE:AKR). Shelton Capital accumulated 5,796 shares or 0.02% of the stock. Dimensional Fund Advsrs L P accumulated 0.02% or 916,198 shares. Wolverine Asset Lc accumulated 4,533 shares or 0% of the stock. Gerstein Fisher, a New York-based fund reported 9,771 shares. The Illinois-based Balyasny Asset Mgmt Ltd Company has invested 0.03% in Acadia Realty Trust (NYSE:AKR). Wellington Mngmt Gp Limited Liability Partnership has invested 0.01% of its portfolio in Acadia Realty Trust (NYSE:AKR). Ladenburg Thalmann Fin has 1,586 shares for 0% of their US portfolio. Bailard Incorporated last reported 0.03% of its portfolio in the stock.
Insider Transactions: Since May 5, 2016, the stock had 0 insider buys, and 6 insider sales for $2.40 million net activity. $827,240 worth of Acadia Realty Trust (NYSE:AKR) shares were sold by BRAUN JOEL L. Another trade for 15,000 shares valued at $531,450 was made by Conlon Christopher on Thursday, May 5. $11,170 worth of shares were sold by LUSCOMBE WENDY W on Friday, May 6. 10,000 shares were sold by Spitz William T., worth $372,513 on Thursday, July 28. On Tuesday, August 2 WIELANSKY LEE S sold $444,307 worth of the stock or 12,000 shares. $211,200 worth of Acadia Realty Trust (NYSE:AKR) was sold by MASTERS ROBERT on Friday, May 6.
More notable recent Acadia Realty Trust (NYSE:AKR) news were published by: Forbes.com which released: “Ex-Dividend Reminder: Acadia Realty Trust, Fulton Financial and Goldman Sachs BDC” on September 26, 2016, also Finance.Yahoo.com with their article: “Acadia Realty Trust to Announce Third Quarter 2016 Earnings on October 25, 2016” published on September 22, 2016, Finance.Yahoo.com published: “Acadia Realty Trust Provides Transaction & Earnings Update” on September 12, 2016. More interesting news about Acadia Realty Trust (NYSE:AKR) were released by: Businesswire.com and their article: “Acadia Realty Trust Names John Gottfried as Its Next CFO” published on April 18, 2016 as well as Businesswire.com‘s news article titled: “Acadia Realty Trust Announces Pricing of 4.2 Million Common Share Offering” with publication date: August 09, 2016.
AKR Company Profile
Acadia Realty Trust, incorporated on March 4, 1993, is a real estate investment trust. The Firm is focused on the ownership, acquisition, redevelopment and management of retail properties located primarily in metropolitan areas in the United States. The Company’s divisions include Core Portfolio, Funds and Structured Financing. The Firm conducts its activities through Acadia Realty Limited Partnership. The Company’s Core Portfolio consists primarily of street retail and urban assets, as well as suburban properties located in various trade areas. The Firm also makes investments in first mortgages, preferred equity and other notes receivable collateralized by real estate.
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