Acadia Realty Trust (AKR) to Release Quarterly Earnings on Monday

Acadia Realty Trust (NYSE:AKR) will be issuing its quarterly earnings data before the market opens on Monday, October 28th. Analysts expect the company to announce earnings of $0.32 per share for the quarter. Acadia Realty Trust has set its FY24 guidance at $1.26-1.32 EPS and its FY 2024 guidance at 1.260-1.320 EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The company had revenue of $87.25 million for the quarter, compared to analyst estimates of $70.16 million. During the same period last year, the company earned $0.36 earnings per share. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, analysts expect Acadia Realty Trust to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Acadia Realty Trust Stock Performance

NYSE:AKR opened at $24.01 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.76. Acadia Realty Trust has a fifty-two week low of $13.24 and a fifty-two week high of $24.75. The stock has a market cap of $2.48 billion, a PE ratio of 300.13, a price-to-earnings-growth ratio of 6.30 and a beta of 1.47. The firm’s fifty day simple moving average is $23.00 and its 200-day simple moving average is $19.92.

Acadia Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.19 dividend. The ex-dividend date was Monday, September 30th. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 3.17%. Acadia Realty Trust’s payout ratio is currently 950.00%.

Wall Street Analysts Forecast Growth

AKR has been the topic of several recent research reports. Truist Financial boosted their price objective on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $23.00 to $27.00 in a research report on Thursday, October 10th. Finally, StockNews.com lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Acadia Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $21.60.

About Acadia Realty Trust

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.