Acadia Realty Trust (NYSE:AKR) Issues Quarterly Earnings Results

Acadia Realty Trust (NYSE:AKR) posted its quarterly earnings data on Monday. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25), Yahoo Finance reports. Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The company had revenue of $87.70 million for the quarter, compared to analyst estimates of $70.88 million. During the same period in the prior year, the company earned $0.27 EPS. The company’s revenue was up 7.7% compared to the same quarter last year.

Acadia Realty Trust Stock Down 0.6 %

AKR traded down $0.15 during trading on Tuesday, reaching $24.45. 121,149 shares of the stock traded hands, compared to its average volume of 979,438. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 1.08. Acadia Realty Trust has a fifty-two week low of $13.24 and a fifty-two week high of $24.75. The stock’s 50-day simple moving average is $23.07 and its two-hundred day simple moving average is $20.00. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 306.00, a price-to-earnings-growth ratio of 6.30 and a beta of 1.47.

Analyst Ratings Changes

AKR has been the topic of a number of recent research reports. StockNews.com cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, October 14th. Truist Financial lifted their target price on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $23.00 to $27.00 in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $21.60.

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.