Equities analysts expect Acadia Realty Trust (NYSE:AKR) to announce earnings of $0.36 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Acadia Realty Trust’s earnings. The highest EPS estimate is $0.37 and the lowest is $0.35. Acadia Realty Trust reported earnings of $0.37 per share in the same quarter last year, which suggests a negative year over year growth rate of 2.7%. The company is expected to issue its next earnings report on Tuesday, July 25th.
On average, analysts expect that Acadia Realty Trust will report full year earnings of $1.48 per share for the current fiscal year, with EPS estimates ranging from $1.47 to $1.50. For the next fiscal year, analysts anticipate that the company will report earnings of $1.60 per share, with EPS estimates ranging from $1.50 to $1.65. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Acadia Realty Trust.
Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings data on Monday, April 24th. The real estate investment trust reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $62 million during the quarter, compared to the consensus estimate of $45.41 million. Acadia Realty Trust had a net margin of 29.38% and a return on equity of 3.56%. The company’s revenue was up 29.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 earnings per share.
Several analysts recently commented on the stock. BMO Capital Markets reiterated a “buy” rating and issued a $36.00 price objective on shares of Acadia Realty Trust in a research note on Wednesday, April 5th. Zacks Investment Research upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, March 31st. Finally, TheStreet cut shares of Acadia Realty Trust from a “b-” rating to a “c” rating in a research note on Monday, April 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $37.25.
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Shares of Acadia Realty Trust (NYSE:AKR) traded down 0.21% on Tuesday, hitting $28.14. 29,937 shares of the company’s stock were exchanged. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 38.39 and a beta of 0.60. The company’s 50-day moving average price is $30.25 and its 200 day moving average price is $31.94. Acadia Realty Trust has a 12-month low of $27.99 and a 12-month high of $38.01.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 14th. Shareholders of record on Friday, March 31st were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date was Wednesday, March 29th. Acadia Realty Trust’s payout ratio is currently 122.35%.
In other Acadia Realty Trust news, insider Christopher Conlon sold 7,500 shares of Acadia Realty Trust stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $31.04, for a total transaction of $232,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wendy W. Luscombe sold 1,500 shares of Acadia Realty Trust stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $31.69, for a total transaction of $47,535.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,000 shares of company stock valued at $755,535. 2.22% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Acadia Realty Trust during the fourth quarter worth approximately $25,873,000. Brookfield Asset Management Inc. increased its stake in shares of Acadia Realty Trust by 54.1% in the third quarter. Brookfield Asset Management Inc. now owns 1,480,383 shares of the real estate investment trust’s stock worth $53,649,000 after buying an additional 519,923 shares during the period. MEAG MUNICH ERGO AssetManagement GmbH increased its stake in shares of Acadia Realty Trust by 497.0% in the first quarter. MEAG MUNICH ERGO AssetManagement GmbH now owns 370,808 shares of the real estate investment trust’s stock worth $11,146,000 after buying an additional 308,700 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Acadia Realty Trust during the fourth quarter worth approximately $7,126,000. Finally, William Blair Investment Management LLC increased its stake in shares of Acadia Realty Trust by 31.9% in the fourth quarter. William Blair Investment Management LLC now owns 674,911 shares of the real estate investment trust’s stock worth $22,056,000 after buying an additional 163,421 shares during the period.
About Acadia Realty Trust
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, development and management of retail properties located in the United States. It operates through three segments: Core Portfolio, Funds and Structured Financing. Core Portfolio and Fund properties primarily consist of street and urban retail, and dense suburban shopping centers.
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