Acadia Realty Trust (NYSE:AKR) – Investment analysts at KeyCorp issued their FY2020 earnings per share estimates for shares of Acadia Realty Trust in a research note issued on Thursday, April 11th. KeyCorp analyst T. Thomas expects that the real estate investment trust will earn $1.47 per share for the year.
Several other equities research analysts have also recently commented on AKR. Zacks Investment Research raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, December 19th. ValuEngine lowered Acadia Realty Trust from a “buy” rating to a “hold” rating in a report on Tuesday, December 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $31.33.
NYSE AKR opened at $28.09 on Monday. Acadia Realty Trust has a one year low of $22.27 and a one year high of $29.82. The company has a market cap of $2.31 billion, a P/E ratio of 20.81, a price-to-earnings-growth ratio of 3.36 and a beta of 0.72. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.74.
Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Wednesday, February 13th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.27). The company had revenue of $69.45 million during the quarter, compared to analyst estimates of $53.28 million. Acadia Realty Trust had a net margin of 11.95% and a return on equity of 1.48%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 EPS.
Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in Acadia Realty Trust by 0.7% during the third quarter. Bank of New York Mellon Corp now owns 1,287,426 shares of the real estate investment trust’s stock worth $36,086,000 after acquiring an additional 9,092 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Acadia Realty Trust in the third quarter worth $1,822,000. Dimensional Fund Advisors LP increased its position in Acadia Realty Trust by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 1,322,778 shares of the real estate investment trust’s stock worth $37,075,000 after buying an additional 5,159 shares during the last quarter. Riverhead Capital Management LLC increased its position in Acadia Realty Trust by 31.2% in the third quarter. Riverhead Capital Management LLC now owns 9,674 shares of the real estate investment trust’s stock worth $271,000 after buying an additional 2,300 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Acadia Realty Trust in the third quarter worth $3,397,000.
In other news, EVP Christopher Conlon sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $27.91, for a total value of $139,550.00. Following the transaction, the executive vice president now owns 15,000 shares in the company, valued at $418,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jason Blacksberg sold 2,096 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $29.50, for a total value of $61,832.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,096 shares of company stock worth $481,982. Corporate insiders own 2.47% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.12 annualized dividend and a yield of 3.99%. Acadia Realty Trust’s payout ratio is currently 82.96%.
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 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 urban and street-retail corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.
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