Acadia Realty Trust (NYSE:AKR) to Issue Quarterly Dividend of $0.19

Acadia Realty Trust (NYSE:AKR) announced a quarterly dividend on Tuesday, July 30th, Zacks reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.19 per share by the real estate investment trust on Tuesday, October 15th. This represents a $0.76 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Monday, September 30th. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.18.

Acadia Realty Trust has increased its dividend payment by an average of 35.4% annually over the last three years. Acadia Realty Trust has a dividend payout ratio of 217.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Acadia Realty Trust to earn $1.34 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 56.7%.

Acadia Realty Trust Price Performance

Acadia Realty Trust stock opened at $23.16 on Friday. The stock has a market cap of $2.44 billion, a P/E ratio of 289.50, a P/E/G ratio of 5.98 and a beta of 1.47. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.76. The company’s 50 day moving average price is $21.95 and its two-hundred day moving average price is $18.91. Acadia Realty Trust has a 52 week low of $13.24 and a 52 week high of $23.37.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $87.25 million during the quarter, compared to analysts’ expectations of $70.16 million. During the same period in the prior year, the firm posted $0.36 EPS. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, equities analysts predict that Acadia Realty Trust will post 1.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

AKR has been the topic of several research reports. Compass Point lifted their price objective on shares of Acadia Realty Trust from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. raised shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price target on the stock in a report on Wednesday, June 26th. StockNews.com raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Truist Financial boosted their target price on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.80.

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 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.