Acadia Realty Trust (AKR) rated Outperform with price target $21 by FBR Capital
Acadia Realty Trust (NYSE: AKR)
rated Outperform with price target $21 by FBR Capital.
Acadia Realty Trust
(the Trust) is a fully integrated, self-managed and self-administered real estate investment trust (REIT) primarily focused on the ownership, acquisition, redevelopment and management of retail properties, including neighborhood and community shopping centers and mixed-use properties with retail components. During the year ended December 31, 2008, the Trust operated 85 properties. These assets are located primarily in the Northeast, Mid-Atlantic and Midwestern regions of the United States and, in total, comprise approximately eight million square feet. The Trust also have private equity investments in other retail real estate related opportunities, including investments for which it provide operational support to the operating ventures in which it has a minority equity interest.
uses a highly disciplined analysis focused on intrinsic value, which we developed to critically examine the capital structure of the companies we cover, as well as their competitive positions and the growth opportunities within their industries. We apply this discipline – which helps us assess how effectively a company’s managers deploy the capital entrusted to them – not only in our published research but also when making investing and underwriting judgments.