Acadia Realty Trust (AKR) To Go Ex-Dividend on June 28th

Acadia Realty Trust (NYSE:AKR) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.18 per share by the real estate investment trust on Monday, July 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Friday, June 28th.

Acadia Realty Trust has raised its dividend payment by an average of 35.4% annually over the last three years. Acadia Realty Trust has a payout ratio of 240.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Acadia Realty Trust to earn $1.33 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 54.1%.

Acadia Realty Trust Stock Down 2.0 %

NYSE:AKR opened at $17.26 on Wednesday. Acadia Realty Trust has a 1-year low of $13.24 and a 1-year high of $17.90. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $1.78 billion, a PE ratio of 215.75, a price-to-earnings-growth ratio of 4.64 and a beta of 1.44. The company has a 50-day moving average of $17.10 and a 200 day moving average of $16.92.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.27). The company had revenue of $91.36 million for the quarter, compared to the consensus estimate of $69.75 million. Acadia Realty Trust had a net margin of 2.38% and a return on equity of 0.39%. Acadia Realty Trust’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 EPS. As a group, research analysts anticipate that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Bank of America upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their price objective for the company from $18.00 to $20.00 in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.50.

Insider Buying and Selling at Acadia Realty Trust

In other news, VP Richard Hartmann sold 25,000 shares of Acadia Realty Trust stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $17.10, for a total transaction of $427,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Acadia Realty Trust news, CFO John J. Gottfried sold 12,500 shares of Acadia Realty Trust stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $16.89, for a total transaction of $211,125.00. Following the completion of the sale, the chief financial officer now directly owns 7,600 shares in the company, valued at approximately $128,364. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Richard Hartmann sold 25,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. The disclosure for this sale can be found here. 2.83% of the stock is currently owned by company insiders.

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.