Acadia Realty Trust (NYSE:AKR) Declares Quarterly Dividend of $0.18

Acadia Realty Trust (NYSE:AKR) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.18 per share by the real estate investment trust on Monday, July 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend is Friday, June 28th.

Acadia Realty Trust has raised its dividend payment by an average of 35.4% per year over the last three years. Acadia Realty Trust has a dividend payout ratio of 240.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Acadia Realty Trust to earn $1.33 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 54.1%.

Acadia Realty Trust Stock Performance

Shares of Acadia Realty Trust stock opened at $17.45 on Thursday. The stock has a market cap of $1.80 billion, a PE ratio of 218.06, a price-to-earnings-growth ratio of 4.55 and a beta of 1.44. The business has a fifty day simple moving average of $17.12 and a 200-day simple moving average of $16.92. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.77. Acadia Realty Trust has a 12 month low of $13.24 and a 12 month high of $17.90.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AKR shares. Bank of America upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their target price for the company from $18.00 to $20.00 in a report on Friday, April 5th. JPMorgan Chase & Co. upgraded Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 target price on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.40.

Insider Transactions at Acadia Realty Trust

In other news, VP Richard Hartmann sold 25,000 shares of Acadia Realty Trust stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $17.10, for a total value of $427,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO John J. Gottfried sold 12,500 shares of Acadia Realty Trust stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $16.89, for a total transaction of $211,125.00. Following the sale, the chief financial officer now directly owns 7,600 shares of the company’s stock, valued at $128,364. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Richard Hartmann sold 25,000 shares of Acadia Realty Trust stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $17.10, for a total value of $427,500.00. The disclosure for this sale can be found here. 2.83% of the stock is currently owned by corporate insiders.

Acadia Realty Trust Company Profile

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.