Acadia Realty Trust (NYSE:AKR) Announces Quarterly Earnings Results

Acadia Realty Trust (NYSE:AKR) announced its quarterly earnings results on Monday. The real estate investment trust reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.10), FiscalAI reports. Acadia Realty Trust had a return on equity of 1.85% and a net margin of 12.14%. The business had revenue of $94.98 million during the quarter, compared to the consensus estimate of $94.38 million. During the same quarter in the prior year, the firm posted $0.03 EPS.

Acadia Realty Trust Stock Performance

Shares of AKR stock opened at $19.04 on Monday. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 56.00, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.13 and a current ratio of 1.13. The company has a 50 day moving average price of $19.33 and a 200 day moving average price of $20.62. Acadia Realty Trust has a one year low of $17.96 and a one year high of $23.03.

Acadia Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.80 annualized dividend and a yield of 4.2%. Acadia Realty Trust’s dividend payout ratio is 235.29%.

Analyst Ratings Changes

AKR has been the topic of a number of recent analyst reports. KeyCorp restated an “overweight” rating on shares of Acadia Realty Trust in a report on Wednesday, September 23rd. Truist Financial initiated coverage on Acadia Realty Trust in a report on Thursday, October 1st. They set a “buy” rating and a $22.00 price target for the company. Wall Street Zen lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday. Citigroup increased their price objective on shares of Acadia Realty Trust from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings cut shares of Acadia Realty Trust from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.80.

About Acadia Realty Trust

Acadia Realty Trust (NYSE: AKR) is a real estate investment trust that owns, operates, acquires, and develops retail properties in the United States. Its portfolio includes grocery-anchored shopping centers, neighborhood and community retail centers, urban street retail properties, and mixed-use assets.

The company focuses on retail locations in densely populated and high-barrier-to-entry markets, serving tenants that include national retailers, restaurants, service providers, and other consumer-oriented businesses.