Acadia Realty Trust (AKR) to Release Earnings on Monday

Acadia Realty Trust (NYSE:AKR) is set to post its quarterly earnings results before the market opens on Monday, October 28th. Analysts expect Acadia Realty Trust to post 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.Investors that are interested in participating in the company’s conference call can do so using this link.

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 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 firm had revenue of $87.25 million during the quarter, compared to analysts’ expectations 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 Trading Up 1.2 %

Shares of AKR opened at $24.74 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 309.25, a PEG ratio of 6.04 and a beta of 1.47. The company has a 50-day moving average of $22.72 and a 200 day moving average of $19.66. Acadia Realty Trust has a 1-year low of $13.24 and a 1-year high of $24.75.

Acadia Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.18. Acadia Realty Trust’s dividend payout ratio (DPR) is 950.00%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AKR. Truist Financial upped their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. upgraded shares of Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 price objective for the company in a research note on Wednesday, June 26th. StockNews.com lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, October 14th. Finally, Compass Point raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $23.00 to $27.00 in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.