Acadia Realty Trust (NYSE:AKR) Announces Quarterly Dividend of $0.19

Acadia Realty Trust (NYSE:AKR) declared a quarterly dividend on Thursday, November 7th,RTT News reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.19 per share by the real estate investment trust on Wednesday, January 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Tuesday, December 31st.

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 payout ratio of 194.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Acadia Realty Trust to earn $1.34 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 56.7%.

Acadia Realty Trust Price Performance

Shares of NYSE AKR opened at $25.00 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67. The company’s 50-day moving average price is $23.52 and its 200 day moving average price is $20.44. Acadia Realty Trust has a 52 week low of $14.06 and a 52 week high of $25.58. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 277.78, a PEG ratio of 6.34 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.25). Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. The business had revenue of $87.70 million during the quarter, compared to analyst estimates of $70.88 million. During the same quarter in the prior year, the company earned $0.27 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, research analysts forecast that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. StockNews.com downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Friday. Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their target price for the company from $23.00 to $27.00 in a research note on Thursday, October 10th. Finally, Truist Financial raised their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. One 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, the stock presently 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.