Acadia Realty Trust (AKR) Expected to Announce Earnings of $0.36 Per Share
Analysts expect that Acadia Realty Trust (NYSE:AKR) will post $0.36 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Acadia Realty Trust’s earnings, with the lowest EPS estimate coming in at $0.34 and the highest estimate coming in at $0.38. Acadia Realty Trust posted earnings of $0.08 per share during the same quarter last year, which would indicate a positive year over year growth rate of 350%. The company is scheduled to announce its next quarterly earnings results after the market closes on Thursday, November 2nd.
According to Zacks, analysts expect that Acadia Realty Trust will report full year earnings of $1.49 per share for the current year, with EPS estimates ranging from $1.48 to $1.50. For the next year, analysts anticipate that the company will post earnings of $1.55 per share, with EPS estimates ranging from $1.51 to $1.60. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.29. The company had revenue of $59.50 million for the quarter, compared to analysts’ expectations of $53.72 million. Acadia Realty Trust had a return on equity of 2.50% and a net margin of 23.63%. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same period last year, the business posted $0.37 earnings per share.
AKR has been the topic of several recent analyst reports. Boenning Scattergood set a $35.00 price target on Acadia Realty Trust and gave the company a “buy” rating in a research note on Thursday, July 27th. KeyCorp decreased their price target on Acadia Realty Trust from $37.00 to $33.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 28th. BidaskClub raised Acadia Realty Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised Acadia Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Friday, July 28th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $36.00 price target on shares of Acadia Realty Trust in a research note on Wednesday, June 21st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $33.50.
A number of institutional investors have recently bought and sold shares of AKR. Riverhead Capital Management LLC boosted its stake in Acadia Realty Trust by 135.5% in the second quarter. Riverhead Capital Management LLC now owns 5,416 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 3,116 shares in the last quarter. Royal Bank of Canada boosted its stake in Acadia Realty Trust by 72.2% in the second quarter. Royal Bank of Canada now owns 6,620 shares of the real estate investment trust’s stock worth $184,000 after purchasing an additional 2,775 shares in the last quarter. GAM Holding AG boosted its stake in Acadia Realty Trust by 5.5% in the second quarter. GAM Holding AG now owns 6,880 shares of the real estate investment trust’s stock worth $191,000 after purchasing an additional 356 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in Acadia Realty Trust by 6.8% in the second quarter. Ameritas Investment Partners Inc. now owns 7,376 shares of the real estate investment trust’s stock worth $205,000 after purchasing an additional 472 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Acadia Realty Trust by 14.8% in the second quarter. Daiwa Securities Group Inc. now owns 7,741 shares of the real estate investment trust’s stock worth $215,000 after purchasing an additional 1,000 shares in the last quarter.
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Acadia Realty Trust (AKR) traded down 0.84% during midday trading on Friday, reaching $29.60. The company’s stock had a trading volume of 591,632 shares. The firm has a market capitalization of $2.48 billion, a PE ratio of 45.82 and a beta of 0.60. Acadia Realty Trust has a 1-year low of $26.70 and a 1-year high of $35.46. The firm has a 50 day moving average price of $29.08 and a 200 day moving average price of $28.92.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Thursday, September 28th. Acadia Realty Trust’s dividend payout ratio is currently 162.50%.
Acadia Realty Trust Company Profile
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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