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UPDATE: Citigroup Reiterates On Acadia Realty Trust On Model Update

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In a report published Tuesday, Citigroup analyst Michael Bilerman reiterated a Neutral rating on Acadia Realty Trust (NYSE: AKR), and raised the price target from $27.00 to $28.00.

In the report, Citigroup noted, “Following 1Q earnings, we are raising our 2014 and 2015 FFO estimates by $0.02 to $1.37 and $1.47 to reflect higher acquisitions. We are raising our price target by $1 to $28 given higher NOI and a 10bp reduction in our applied cap rate to reflect recent street retail acquisitions. Our $28 target is based on a 5% premium to NAV of $27, which assumes a 5.4% applied cap rate.”

Acadia Realty Trust closed on Monday at $27.08.

Latest Ratings for AKR

DateFirmActionFromTo
Sep 2018MaintainsBuyBuy
Aug 2018MaintainsNeutralNeutral
Feb 2018MaintainsNeutralNeutral

View More Analyst Ratings for AKR
View the Latest Analyst Ratings

Posted-In: Citigroup Michael BilermanAnalyst Color Price Target Analyst Ratings

 

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