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

Acadia Realty Trust (NYSE:AKR) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.26-1.32 for the period, compared to the consensus EPS estimate of $1.28. Acadia Realty Trust also updated its FY 2024 guidance to 1.260-1.320 EPS.

Analyst Upgrades and Downgrades

AKR has been the topic of several recent research reports. JPMorgan Chase & Co. upgraded Acadia Realty Trust from an underweight rating to a neutral rating and set a $18.00 price objective on the stock in a research report on Wednesday, June 26th. Bank of America upgraded Acadia Realty Trust from a neutral rating to a buy rating and increased their target price for the company from $18.00 to $20.00 in a research note on Friday, April 5th. Finally, StockNews.com raised Acadia Realty Trust from a sell rating to a hold rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $18.40.

Acadia Realty Trust Stock Performance

Acadia Realty Trust stock traded down $0.26 during trading hours on Friday, hitting $21.40. The stock had a trading volume of 1,192,807 shares, compared to its average volume of 1,036,543. The company has a 50-day moving average of $18.33 and a two-hundred day moving average of $17.38. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.77. The company has a market cap of $2.21 billion, a PE ratio of 270.75, a price-to-earnings-growth ratio of 5.70 and a beta of 1.46. Acadia Realty Trust has a fifty-two week low of $13.24 and a fifty-two week high of $22.51.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). The business had revenue of $87.25 million for the quarter, compared to the consensus estimate of $70.16 million. Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the company earned $0.36 earnings per share. On average, equities research analysts anticipate that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Monday, September 30th. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.18. Acadia Realty Trust’s dividend payout ratio is 900.00%.

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.