Acadia Realty Trust (AKR) Forecasted to Earn Q4 2017 Earnings of $0.32 Per Share
Acadia Realty Trust (NYSE:AKR) – Investment analysts at Boenning Scattergood reduced their Q4 2017 earnings per share estimates for shares of Acadia Realty Trust in a report released on Monday. Boenning Scattergood analyst F. Van. Dijkum now expects that the real estate investment trust will post earnings per share of $0.32 for the quarter, down from their prior estimate of $0.34. Boenning Scattergood currently has a “Buy” rating and a $35.00 price objective on the stock. Boenning Scattergood also issued estimates for Acadia Realty Trust’s Q2 2018 earnings at $0.39 EPS.
Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $51.70 million during the quarter, compared to analyst estimates of $55.94 million. Acadia Realty Trust had a return on equity of 2.77% and a net margin of 25.34%. Acadia Realty Trust’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 earnings per share. COPYRIGHT VIOLATION NOTICE: “Acadia Realty Trust (AKR) Forecasted to Earn Q4 2017 Earnings of $0.32 Per Share” was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece on another publication, it was illegally copied and republished in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.thecerbatgem.com/2017/11/09/acadia-realty-trust-akr-forecasted-to-earn-q4-2017-earnings-of-0-32-per-share.html.
Several other research firms have also recently weighed in on AKR. BidaskClub upgraded Acadia Realty Trust from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded Acadia Realty Trust from a “strong sell” rating to a “hold” rating in a report on Friday, July 28th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $33.50.
Shares of Acadia Realty Trust (AKR) traded up $0.24 during midday trading on Tuesday, hitting $28.94. The company had a trading volume of 87,633 shares, compared to its average volume of 485,828. Acadia Realty Trust has a 12-month low of $26.70 and a 12-month high of $34.30. The company has a quick ratio of 0.58, a current ratio of 0.48 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $2,388.13, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 1.75 and a beta of 0.62.
A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Acadia Realty Trust by 3.7% during the second quarter. Vanguard Group Inc. now owns 13,739,896 shares of the real estate investment trust’s stock valued at $381,969,000 after buying an additional 487,984 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Acadia Realty Trust by 1.4% in the 2nd quarter. BlackRock Inc. now owns 12,337,668 shares of the real estate investment trust’s stock worth $342,987,000 after purchasing an additional 165,976 shares in the last quarter. FMR LLC increased its holdings in shares of Acadia Realty Trust by 3.3% in the 2nd quarter. FMR LLC now owns 11,066,494 shares of the real estate investment trust’s stock worth $307,648,000 after purchasing an additional 348,630 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Acadia Realty Trust by 24.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 5,750,851 shares of the real estate investment trust’s stock worth $159,874,000 after purchasing an additional 1,118,734 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Acadia Realty Trust by 2.9% in the 2nd quarter. State Street Corp now owns 3,243,651 shares of the real estate investment trust’s stock worth $90,178,000 after purchasing an additional 90,943 shares in the last quarter.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.73%. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.26. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 146.48%.
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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