Q3 2016 EPS Estimates for Acadia Realty Trust Cut by Boenning Scattergood (AKR)
Acadia Realty Trust (NYSE:AKR) – Research analysts at Boenning Scattergood dropped their Q3 2016 EPS estimates for Acadia Realty Trust in a research report issued on Thursday. Boenning Scattergood analyst F. Van. Dijkum now forecasts that the brokerage will post earnings per share of $0.32 for the quarter, down from their prior forecast of $0.39. Boenning Scattergood currently has a “Outperform” rating and a $38.00 target price on the stock. Boenning Scattergood also issued estimates for Acadia Realty Trust’s Q2 2017 earnings at $0.40 EPS, Q4 2017 earnings at $0.43 EPS, FY2017 earnings at $1.63 EPS, Q1 2018 earnings at $0.43 EPS, Q2 2018 earnings at $0.42 EPS and FY2018 earnings at $1.72 EPS.
Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.01. Acadia Realty Trust had a net margin of 32.18% and a return on equity of 4.32%. The firm had revenue of $51.30 million for the quarter, compared to analyst estimates of $40.51 million. During the same quarter in the prior year, the firm earned $0.48 EPS. The firm’s revenue was down 9.9% compared to the same quarter last year.
AKR has been the subject of a number of other research reports. BMO Capital Markets reiterated a “buy” rating and set a $40.00 target price on shares of Acadia Realty Trust in a research report on Wednesday, July 27th. BTIG Research began coverage on shares of Acadia Realty Trust in a research report on Thursday, August 25th. They set a “neutral” rating for the company. Zacks Investment Research upgraded shares of Acadia Realty Trust from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Wednesday, July 6th. Finally, Citigroup Inc. increased their target price on shares of Acadia Realty Trust from $40.50 to $41.50 and gave the stock a “buy” rating in a research report on Friday, August 12th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $40.10.
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Shares of Acadia Realty Trust (NYSE:AKR) opened at 34.60 on Monday. The stock’s 50 day moving average is $35.93 and its 200-day moving average is $35.31. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 35.78 and a beta of 0.67. Acadia Realty Trust has a 12-month low of $30.25 and a 12-month high of $38.01.
Several hedge funds and other institutional investors have recently modified their holdings of AKR. Aperio Group LLC raised its position in shares of Acadia Realty Trust by 21.8% in the first quarter. Aperio Group LLC now owns 21,401 shares of the real estate investment trust’s stock valued at $752,000 after buying an additional 3,827 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Acadia Realty Trust by 1.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 20,891 shares of the real estate investment trust’s stock valued at $734,000 after buying an additional 325 shares during the period. BlackRock Inc. raised its position in shares of Acadia Realty Trust by 12.2% in the first quarter. BlackRock Inc. now owns 68,884 shares of the real estate investment trust’s stock valued at $2,420,000 after buying an additional 7,466 shares during the period. BlackRock Group LTD raised its position in shares of Acadia Realty Trust by 3.6% in the first quarter. BlackRock Group LTD now owns 524,664 shares of the real estate investment trust’s stock valued at $18,432,000 after buying an additional 18,044 shares during the period. Finally, BlackRock Fund Advisors raised its position in shares of Acadia Realty Trust by 0.5% in the first quarter. BlackRock Fund Advisors now owns 4,280,116 shares of the real estate investment trust’s stock valued at $150,360,000 after buying an additional 22,911 shares during the period. 99.04% of the stock is currently owned by institutional investors.
In other news, Director Lee S. Wielansky sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $37.03, for a total value of $444,360.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joel L. Braun sold 22,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $37.60, for a total transaction of $827,200.00. Following the completion of the transaction, the insider now directly owns 24,109 shares in the company, valued at approximately $906,498.40. The disclosure for this sale can be found here. 2.22% of the stock is currently owned by insiders.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 30th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Wednesday, September 28th. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 103.09%.
About Acadia Realty Trust
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, redevelopment and management of retail properties located primarily in metropolitan areas in the United States. The Company’s segments include Core Portfolio, Funds and Structured Financing. The Company conducts its operations through Acadia Realty Limited Partnership.
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