Compass Point sees Acadia Realty ‘entering virtuous cycle,’ upgrades to Buy

As previously reported, Compass Point upgraded Acadia Realty Trust to Buy from Neutral with a price target of $27, up from $23. With a 35% year-to-date gain, Acadia shares have been the leading strip performer in 2024, notes the analyst, who attributes the strength to several institutional investors having “jumped on the moving train.” The deployment of the latest capital raise “should be earnings enhancing,” argues the analyst, who believes the company’s future above average growth should continue beyond 2026 as the bulk of new investment will be in urban street retail.