Acadia Realty Trust (AKR) To Go Ex-Dividend on December 31st

Acadia Realty Trust (NYSE:AKR) declared a quarterly dividend on Thursday, November 7th,RTT News reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.19 per share by the real estate investment trust on Wednesday, January 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Tuesday, December 31st.

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 185.4% indicating that 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 $1.34 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

AKR stock opened at $23.99 on Friday. The stock has a 50-day moving average price of $24.83 and a two-hundred day moving average price of $22.39. The company has a market cap of $2.87 billion, a PE ratio of 266.56, a price-to-earnings-growth ratio of 6.41 and a beta of 1.46. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67. Acadia Realty Trust has a 12-month low of $16.09 and a 12-month high of $26.29.

Acadia Realty Trust (NYSE:AKR) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). The business had revenue of $87.70 million for the quarter, compared to analyst estimates of $70.88 million. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $0.27 EPS. As a group, research analysts predict that Acadia Realty Trust will post 1.28 EPS for the current year.

Wall Street Analyst Weigh In

AKR has been the topic of several recent research reports. StockNews.com lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, December 2nd. Truist Financial boosted their price objective on Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Finally, Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their target price for the company from $23.00 to $27.00 in a research note on Thursday, October 10th. 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 company. Based on data from MarketBeat, Acadia Realty Trust currently has an average rating of “Hold” and an average target price of $22.40.

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.