$49.15 Million in Sales Expected for Acadia Realty Trust (AKR) This Quarter
Analysts expect Acadia Realty Trust (NYSE:AKR) to report sales of $49.15 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Acadia Realty Trust’s earnings, with estimates ranging from $47.71 million to $50.58 million. Acadia Realty Trust reported sales of $51.10 million in the same quarter last year, which indicates a negative year over year growth rate of 3.8%. The company is expected to report its next earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that Acadia Realty Trust will report full-year sales of $49.15 million for the current year, with estimates ranging from $195.50 million to $199.63 million. For the next financial year, analysts expect that the firm will report sales of $205.88 million per share, with estimates ranging from $199.16 million to $212.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Acadia Realty Trust.
Acadia Realty Trust (NYSE:AKR) last posted its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.37 EPS for the quarter, topping the consensus estimate of $0.08 by $0.29. The company had revenue of $59.50 million during the quarter, compared to the consensus estimate of $53.72 million. Acadia Realty Trust had a net margin of 23.63% and a return on equity of 2.50%. The firm’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 earnings per share.
A number of equities analysts recently issued reports on AKR shares. Boenning Scattergood set a $35.00 price objective on shares of Acadia Realty Trust and gave the stock a “buy” rating in a report on Thursday, July 27th. KeyCorp dropped their price objective on shares of Acadia Realty Trust from $37.00 to $33.00 and set an “overweight” rating on the stock in a report on Wednesday, June 28th. BidaskClub raised shares of Acadia Realty Trust from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Citigroup Inc reissued a “neutral” rating and issued a $30.00 price objective (down previously from $35.00) on shares of Acadia Realty Trust in a report on Tuesday, June 6th. Finally, Zacks Investment Research raised shares of Acadia Realty Trust from a “strong sell” rating to a “hold” rating in a report on Friday, July 28th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Acadia Realty Trust currently has an average rating of “Buy” and a consensus price target of $34.60.
Large investors have recently modified their holdings of the business. Riverhead Capital Management LLC lifted its holdings in Acadia Realty Trust by 135.5% during the second quarter. Riverhead Capital Management LLC now owns 5,416 shares of the real estate investment trust’s stock valued at $150,000 after purchasing an additional 3,116 shares in the last quarter. Royal Bank of Canada lifted its holdings in Acadia Realty Trust by 72.2% during the second quarter. Royal Bank of Canada now owns 6,620 shares of the real estate investment trust’s stock valued at $184,000 after purchasing an additional 2,775 shares in the last quarter. GAM Holding AG lifted its holdings in Acadia Realty Trust by 5.5% during the second quarter. GAM Holding AG now owns 6,880 shares of the real estate investment trust’s stock valued at $191,000 after purchasing an additional 356 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Acadia Realty Trust by 42.2% during the first quarter. Daiwa Securities Group Inc. now owns 6,741 shares of the real estate investment trust’s stock valued at $203,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in Acadia Realty Trust by 6.8% during the second quarter. Ameritas Investment Partners Inc. now owns 7,376 shares of the real estate investment trust’s stock valued at $205,000 after purchasing an additional 472 shares in the last quarter.
Acadia Realty Trust (NYSE AKR) traded up 1.25% during midday trading on Friday, hitting $29.05. 261,810 shares of the stock traded hands. The stock has a market capitalization of $2.43 billion, a P/E ratio of 44.97 and a beta of 0.59. Acadia Realty Trust has a 52 week low of $26.70 and a 52 week high of $37.54. The stock’s 50-day moving average price is $29.07 and its 200-day moving average price is $29.28.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Thursday, September 28th. Acadia Realty Trust’s payout ratio is 162.50%.
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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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