Acadia Realty Trust (NYSE:AKR – Get Free Report) released its earnings results on Tuesday. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.30), Yahoo Finance reports. The company had revenue of $87.25 million for the quarter, compared to analyst estimates of $70.16 million. Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. Acadia Realty Trust’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 earnings per share. Acadia Realty Trust updated its FY24 guidance to $1.26-1.32 EPS and its FY 2024 guidance to 1.260-1.320 EPS.
Acadia Realty Trust Stock Performance
Shares of Acadia Realty Trust stock remained flat at $21.64 during mid-day trading on Thursday. 857,741 shares of the company were exchanged, compared to its average volume of 1,028,495. The company has a market capitalization of $2.23 billion, a P/E ratio of 270.88, a price-to-earnings-growth ratio of 5.61 and a beta of 1.46. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.77. The company has a fifty day simple moving average of $18.23 and a 200-day simple moving average of $17.35. Acadia Realty Trust has a 1-year low of $13.24 and a 1-year high of $22.51.
Acadia Realty Trust Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.51%. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.18. Acadia Realty Trust’s dividend payout ratio (DPR) is 900.00%.
Analyst Upgrades and Downgrades
View Our Latest Stock Analysis on AKR
Insider Buying and Selling
In other Acadia Realty Trust news, CFO John J. Gottfried sold 12,500 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $16.89, for a total transaction of $211,125.00. Following the sale, the chief financial officer now owns 7,600 shares of the company’s stock, valued at approximately $128,364. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Richard Hartmann sold 25,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.10, for a total value of $427,500.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO John J. Gottfried sold 12,500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $16.89, for a total transaction of $211,125.00. Following the completion of the transaction, the chief financial officer now directly owns 7,600 shares in the company, valued at approximately $128,364. 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.
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