Acadia Realty Trust (NYSE:AKR) Posts Earnings Results

Acadia Realty Trust (NYSE:AKR) released its earnings results on Monday. The real estate investment trust reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.27), Yahoo Finance reports. Acadia Realty Trust had a net margin of 5.72% and a return on equity of 0.91%. The firm had revenue of $91.36 million during the quarter, compared to analysts’ expectations of $69.75 million. During the same quarter last year, the business earned $0.40 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. Acadia Realty Trust updated its FY24 guidance to $1.24-1.32 EPS and its FY 2024 guidance to 1.240-1.320 EPS.

Acadia Realty Trust Trading Down 2.4 %

Shares of AKR traded down $0.43 during mid-day trading on Tuesday, reaching $17.17. The stock had a trading volume of 64,168 shares, compared to its average volume of 1,173,907. Acadia Realty Trust has a 52-week low of $12.37 and a 52-week high of $17.90. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 92.66, a P/E/G ratio of 11.56 and a beta of 1.44. The business’s fifty day moving average is $16.73 and its 200 day moving average is $16.23. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.87 and a quick ratio of 0.87.

Acadia Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.72 annualized dividend and a dividend yield of 4.19%. Acadia Realty Trust’s payout ratio is 378.97%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AKR shares. Bank of America upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their price objective for the company from $18.00 to $20.00 in a report on Friday, April 5th. Jefferies Financial Group upgraded shares of Acadia Realty Trust from a “hold” rating to a “buy” rating and boosted their price target for the stock from $15.00 to $20.00 in a research report on Tuesday, January 2nd. Finally, Truist Financial cut shares of Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $18.50.

Acadia Realty Trust Company Profile

Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual Core Portfolio 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.