Acadia Realty Trust (NYSE:AKR) posted its quarterly earnings results on Monday. The real estate investment trust reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.04. Acadia Realty Trust had a return on equity of 3.56% and a net margin of 29.38%. The firm had revenue of $62 million during the quarter, compared to analysts’ expectations of $45.41 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. The company’s revenue was up 29.0% on a year-over-year basis. Acadia Realty Trust updated its FY17 guidance to $1.44-1.54 EPS.
Shares of Acadia Realty Trust (NYSE:AKR) opened at 27.43 on Wednesday. Acadia Realty Trust has a 12-month low of $26.70 and a 12-month high of $38.01. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 37.42 and a beta of 0.60. The firm’s 50-day moving average price is $29.41 and its 200 day moving average price is $31.36.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.79%. The ex-dividend date is Wednesday, June 28th. Acadia Realty Trust’s dividend payout ratio is presently 122.35%.
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Several research firms have recently weighed in on AKR. BMO Capital Markets restated a “buy” rating and issued a $36.00 price target on shares of Acadia Realty Trust in a research note on Wednesday, April 5th. Zacks Investment Research upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, March 31st. Finally, TheStreet cut Acadia Realty Trust from a “b-” rating to a “c” rating in a research report on Monday, April 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $37.25.
In other news, insider Christopher Conlon sold 7,500 shares of the stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $31.04, for a total transaction of $232,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wendy W. Luscombe sold 1,500 shares of the stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $31.69, for a total transaction of $47,535.00. The disclosure for this sale can be found here. Insiders have sold 16,500 shares of company stock valued at $514,260 in the last quarter. Insiders own 2.22% of the company’s stock.
An institutional investor recently raised its position in Acadia Realty Trust stock. Teachers Advisors LLC raised its stake in Acadia Realty Trust (NYSE:AKR) by 5.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 127,030 shares of the real estate investment trust’s stock after buying an additional 6,399 shares during the period. Teachers Advisors LLC’s holdings in Acadia Realty Trust were worth $3,819,000 at the end of the most recent reporting period.
Acadia Realty Trust Company Profile
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, development and management of retail properties located in the United States. It operates through three segments: Core Portfolio, Funds and Structured Financing. Core Portfolio and Fund properties primarily consist of street and urban retail, and dense suburban shopping centers.
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