Equities research analysts expect that Acadia Realty Trust (NYSE:AKR) will announce sales of $53.36 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Acadia Realty Trust’s earnings, with estimates ranging from $52.53 million to $54.19 million. Acadia Realty Trust reported sales of $63.57 million during the same quarter last year, which indicates a negative year-over-year growth rate of 16.1%. The firm is expected to issue its next quarterly earnings results after the market closes on Monday, July 22nd.
On average, analysts expect that Acadia Realty Trust will report full year sales of $222.97 million for the current fiscal year, with estimates ranging from $219.04 million to $226.89 million. For the next fiscal year, analysts expect that the business will post sales of $231.03 million, with estimates ranging from $229.37 million to $232.69 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Acadia Realty Trust.
Acadia Realty Trust (NYSE:AKR) last posted its earnings results on Wednesday, April 24th. The real estate investment trust reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.22). Acadia Realty Trust had a return on equity of 1.71% and a net margin of 13.17%. The firm had revenue of $74.80 million for the quarter, compared to analyst estimates of $51.36 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The company’s revenue for the quarter was up 18.5% on a year-over-year basis.
A number of research analysts have recently commented on AKR shares. Zacks Investment Research cut shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a research report on Wednesday. Citigroup set a $98.00 target price on shares of Reliance Steel & Aluminum and gave the stock a “hold” rating in a research report on Monday, May 20th. Finally, ValuEngine cut shares of Welbilt from a “hold” rating to a “sell” rating in a research report on Wednesday, June 12th.
In related news, VP Jason Blacksberg sold 1,897 shares of Acadia Realty Trust stock in a transaction on Monday, April 29th. The shares were sold at an average price of $28.51, for a total value of $54,083.47. Following the completion of the sale, the vice president now owns 4,000 shares in the company, valued at $114,040. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christopher Conlon sold 20,000 shares of Acadia Realty Trust stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $27.83, for a total transaction of $556,600.00. Following the completion of the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at approximately $278,300. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,574 shares of company stock valued at $801,806. Insiders own 2.47% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Wells Fargo & Company MN increased its stake in shares of Acadia Realty Trust by 6.7% in the first quarter. Wells Fargo & Company MN now owns 1,095,954 shares of the real estate investment trust’s stock worth $29,886,000 after buying an additional 68,983 shares during the last quarter. Geode Capital Management LLC increased its stake in Acadia Realty Trust by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 1,080,435 shares of the real estate investment trust’s stock valued at $25,671,000 after purchasing an additional 65,439 shares during the last quarter. Norges Bank bought a new stake in Acadia Realty Trust during the fourth quarter valued at $24,002,000. Phocas Financial Corp. increased its stake in Acadia Realty Trust by 0.4% during the first quarter. Phocas Financial Corp. now owns 509,211 shares of the real estate investment trust’s stock valued at $13,886,000 after purchasing an additional 2,131 shares during the last quarter. Finally, State of Wisconsin Investment Board increased its stake in Acadia Realty Trust by 29.7% during the first quarter. State of Wisconsin Investment Board now owns 414,900 shares of the real estate investment trust’s stock valued at $11,314,000 after purchasing an additional 94,900 shares during the last quarter.
Shares of NYSE AKR traded down $0.18 during trading on Friday, reaching $26.82. 803,547 shares of the stock were exchanged, compared to its average volume of 395,335. The business’s 50-day moving average price is $27.77. Acadia Realty Trust has a twelve month low of $23.11 and a twelve month high of $29.82. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The company has a market cap of $2.22 billion, a P/E ratio of 19.87, a price-to-earnings-growth ratio of 3.20 and a beta of 0.68.
The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.18%. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 82.96%.
About Acadia Realty Trust
Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual – Core and Fund – operating platforms and its disciplined, location-driven investment strategy. Acadia Realty Trust is accomplishing this goal by building a best-in-class core real estate portfolio with meaningful concentrations of assets in the nation's most dynamic urban and street-retail corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.
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