Q3 2016 EPS Estimates for Acadia Realty Trust Cut by Boenning Scattergood (AKR)
Acadia Realty Trust (NYSE:AKR) – Equities researchers at Boenning Scattergood lowered their Q3 2016 EPS estimates for Acadia Realty Trust in a report issued on Thursday. Boenning Scattergood analyst F. Van. Dijkum now anticipates that the firm will post earnings per share of $0.32 for the quarter, down from their prior estimate of $0.39. Boenning Scattergood has a “Outperform” rating and a $38.00 price target on the stock. Boenning Scattergood also issued estimates for Acadia Realty Trust’s Q2 2017 earnings at $0.40 EPS, Q4 2017 earnings at $0.43 EPS, FY2017 earnings at $1.63 EPS, Q1 2018 earnings at $0.43 EPS, Q2 2018 earnings at $0.42 EPS and FY2018 earnings at $1.72 EPS.
Acadia Realty Trust (NYSE:AKR) last posted its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The business earned $51.30 million during the quarter, compared to the consensus estimate of $40.51 million. Acadia Realty Trust had a return on equity of 4.32% and a net margin of 32.18%. The business’s revenue was down 9.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 earnings per share.
Several other research analysts have also weighed in on the stock. Citigroup Inc. lifted their price objective on shares of Acadia Realty Trust from $40.50 to $41.50 and gave the stock a “buy” rating in a research note on Friday, August 12th. Zacks Investment Research lowered shares of Acadia Realty Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, August 30th. BTIG Research started coverage on shares of Acadia Realty Trust in a research note on Thursday, August 25th. They set a “neutral” rating on the stock. Finally, BMO Capital Markets reissued a “buy” rating and set a $40.00 price objective on shares of Acadia Realty Trust in a research note on Wednesday, July 27th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $40.10.
Shares of Acadia Realty Trust (NYSE:AKR) opened at 34.60 on Monday. The company has a market capitalization of $2.62 billion, a P/E ratio of 35.78 and a beta of 0.67. Acadia Realty Trust has a 52-week low of $30.25 and a 52-week high of $38.01. The firm has a 50-day moving average of $35.93 and a 200 day moving average of $35.31.
Hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in Acadia Realty Trust during the second quarter worth about $109,000. PNC Financial Services Group Inc. increased its stake in Acadia Realty Trust by 792.3% in the second quarter. PNC Financial Services Group Inc. now owns 3,480 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 3,090 shares during the period. BlackRock Japan Co. Ltd increased its stake in Acadia Realty Trust by 2.6% in the first quarter. BlackRock Japan Co. Ltd now owns 3,701 shares of the real estate investment trust’s stock worth $130,000 after buying an additional 94 shares during the period. Bank of Montreal Can acquired a new stake in Acadia Realty Trust during the second quarter worth about $135,000. Finally, Tower Research Capital LLC TRC acquired a new stake in Acadia Realty Trust during the second quarter worth about $145,000. Institutional investors own 99.04% of the company’s stock.
In other news, Director Lee S. Wielansky sold 12,000 shares of Acadia Realty Trust stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $37.03, for a total value of $444,360.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William T. Spitz sold 10,000 shares of Acadia Realty Trust stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $37.25, for a total transaction of $372,500.00. The disclosure for this sale can be found here. Company insiders own 2.22% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 28th. This represents a $1.00 annualized dividend and a yield of 2.89%. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 103.09%.
Acadia Realty Trust Company Profile
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, redevelopment and management of retail properties located primarily in metropolitan areas in the United States. The Company’s segments include Core Portfolio, Funds and Structured Financing. The Company conducts its operations through Acadia Realty Limited Partnership.
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