Acadia Realty Trust (NYSE:AKR) Releases FY24 Earnings Guidance

Acadia Realty Trust (NYSE:AKR) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.24-1.32 for the period, compared to the consensus estimate of $1.28. Acadia Realty Trust also updated its FY 2024 guidance to 1.240-1.320 EPS.

Acadia Realty Trust Trading Down 1.1 %

Shares of AKR stock opened at $17.09 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.90 and a quick ratio of 0.87. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 213.56, a PEG ratio of 11.54 and a beta of 1.41. Acadia Realty Trust has a 1-year low of $12.37 and a 1-year high of $17.90. The stock has a 50 day simple moving average of $16.75 and a 200-day simple moving average of $16.25.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.27). Acadia Realty Trust had a net margin of 2.38% and a return on equity of 0.39%. The company had revenue of $91.36 million during the quarter, compared to analysts’ expectations of $69.75 million. During the same period in the prior year, the business posted $0.40 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts expect that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.72 annualized dividend and a yield of 4.21%. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 900.00%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AKR. Truist Financial lowered shares of Acadia Realty Trust from a buy rating to a hold rating and set a $18.00 price target on the stock. in a research report on Tuesday, January 16th. Bank of America upgraded Acadia Realty Trust from a neutral rating to a buy rating and boosted their target price for the stock from $18.00 to $20.00 in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Acadia Realty Trust presently has a consensus rating of Hold and a consensus target price of $18.50.

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 Portfolio 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 corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.