Acadia Realty Trust (AKR) Receiving Positive Media Coverage, Report Shows
Headlines about Acadia Realty Trust (NYSE:AKR) have trended positive recently, according to Accern Sentiment. The research group scores the sentiment of media coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Acadia Realty Trust earned a media sentiment score of 0.30 on Accern’s scale. Accern also gave news stories about the real estate investment trust an impact score of 46.3632599935765 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Acadia Realty Trust (NYSE AKR) opened at 28.34 on Wednesday. The firm has a market cap of $2.37 billion, a PE ratio of 43.87 and a beta of 0.59. The company has a 50-day moving average price of $28.94 and a 200 day moving average price of $29.41. Acadia Realty Trust has a 12 month low of $26.70 and a 12 month high of $37.54.
Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.29. The firm had revenue of $59.50 million for the quarter, compared to analyst estimates of $53.72 million. Acadia Realty Trust had a net margin of 23.63% and a return on equity of 2.50%. The company’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 earnings per share. Equities research analysts anticipate that Acadia Realty Trust will post $0.43 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a $0.26 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.04 dividend on an annualized basis and a yield of 3.67%. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 162.50%.
Several research firms have recently weighed in on AKR. BidaskClub raised Acadia Realty Trust from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. KeyCorp reduced their target price on Acadia Realty Trust from $37.00 to $33.00 and set an “overweight” rating for the company in a report on Wednesday, June 28th. BMO Capital Markets reissued a “buy” rating and issued a $36.00 target price on shares of Acadia Realty Trust in a report on Wednesday, June 21st. Citigroup Inc. reissued a “neutral” rating and issued a $30.00 target price (down from $35.00) on shares of Acadia Realty Trust in a report on Tuesday, June 6th. Finally, Zacks Investment Research downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $34.60.
About Acadia Realty Trust
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, development and management of retail properties located in the United States. It operates through three segments: Core Portfolio, Funds and Structured Financing. Core Portfolio and Fund properties primarily consist of street and urban retail, and dense suburban shopping centers.
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