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

by · The Markets Daily

Acadia Realty Trust (NYSE:AKR – Get Free Report) declared a quarterly dividend on Thursday, November 7th,RTT News reports. Stockholders 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 3.03%.

Acadia Realty Trust has increased its dividend by an average of 35.4% per year over the last three years. Acadia Realty Trust has a payout ratio of 194.9% 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 research 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 Stock Performance

Shares of AKR traded up $0.02 during trading hours on Thursday, reaching $25.10. 1,558,576 shares of the company traded hands, compared to its average volume of 1,000,458. The stock’s fifty day moving average is $23.41 and its 200 day moving average is $20.35. The stock has a market cap of $3.00 billion, a P/E ratio of 278.44, a price-to-earnings-growth ratio of 6.37 and a beta of 1.46. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.14 and a current ratio of 1.14. Acadia Realty Trust has a 1-year low of $14.06 and a 1-year high of $25.58.

Acadia Realty Trust (NYSE:AKR – Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The company had revenue of $87.70 million for the quarter, compared to analyst estimates of $70.88 million. During the same period in the prior year, the company posted $0.27 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. Equities research analysts anticipate that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AKR has been the subject of a number of recent analyst reports. Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their target price for the stock from $23.00 to $27.00 in a research report on Thursday, October 10th. StockNews.com upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, Truist Financial boosted their price objective on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Acadia Realty Trust presently has a consensus rating of “Moderate Buy” and an average target price of $21.60.

Check Out Our Latest Analysis on AKR

Acadia Realty Trust Company Profile

(Get Free Report)

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.

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