Many stocks have been testing new highs in 2020, and one of the most notable is Acadia Realty Trust (AKR). Currently, AKR is trading at $16.73 and the avg recommendation for the stock is Moderate Buy. while the current analyst price target stands at $14.10.
To add more color to this target, the company’s high over the last year is $29.55 and the low is $9.59. Over the last 52 weeks, AKR is down -43.38% while the S&P 500 is up 1.21%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, AKR reported a profit of $-46.34 million. Acadia Realty Trust also saw revenues decrease to $71.42 million. In addition, AKR has free cash flow of -$4.69 million as of 03-2020 The company’s EBITDA came in at -$11.2 million which compares well with its peers.
About Acadia Realty Trust
If readers are unfamiliar, Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual – Core and Fund – operating platforms and its disciplined, location-driven investment strategy. Acadia Realty Trust is accomplishing this goal by building a best-in-class core real estate portfolio with meaningful concentrations of assets in the nation’s most dynamic corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. AKR has a short ratio of 1.99 and outstanding shares of 86.97M.
AKR has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.3 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.37. Investors should also keep an eye on sector updates as AKR has historically followed its peers on positive news.
All told, Acadia Realty Trust AKR has strung together solid data and demonstrated underlying fundamentals. At its current valuation, AKR represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Acadia Realty Trust AKR is now commanding a market cap of 1.46B and a float of 85.45M. AKR is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of AKR stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in AKR, either long or short, and we have not been compensated for this article.