Acadia Realty Trust (NYSE:AKR) Posts Earnings Results, Hits Expectations

Acadia Realty Trust (NYSE:AKR) issued its quarterly earnings results on Monday. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31, Briefing.com reports. The business had revenue of $94.98 million during the quarter, compared to analysts’ expectations of $94.38 million. Acadia Realty Trust had a return on equity of 1.85% and a net margin of 12.14%. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 earnings per share.

Acadia Realty Trust Price Performance

Shares of AKR traded down $0.17 during mid-day trading on Monday, reaching $18.86. The company had a trading volume of 204,710 shares, compared to its average volume of 1,333,455. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 55.48, a P/E/G ratio of 2.08 and a beta of 1.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.13 and a current ratio of 1.13. The company’s 50 day simple moving average is $19.33 and its 200 day simple moving average is $20.62. Acadia Realty Trust has a 1-year low of $17.96 and a 1-year high of $23.03.

Acadia Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Wednesday, September 30th. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 235.29%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wall Street Zen cut shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday. KeyCorp reiterated an “overweight” rating on shares of Acadia Realty Trust in a research report on Wednesday, September 23rd. Truist Financial initiated coverage on shares of Acadia Realty Trust in a research note on Thursday, October 1st. They issued a “buy” rating and a $22.00 price objective on the stock. Weiss Ratings downgraded shares of Acadia Realty Trust from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 2nd. Finally, Citigroup boosted their price objective on shares of Acadia Realty Trust from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $23.80.

About Acadia Realty Trust

Acadia Realty Trust (NYSE: AKR) is a real estate investment trust that owns, operates, acquires, and develops retail properties in the United States. Its portfolio includes grocery-anchored shopping centers, neighborhood and community retail centers, urban street retail properties, and mixed-use assets.

The company focuses on retail locations in densely populated and high-barrier-to-entry markets, serving tenants that include national retailers, restaurants, service providers, and other consumer-oriented businesses.