Acadia Realty Trust (NYSE:AKR) Issues FY17 Earnings Guidance
Acadia Realty Trust (NYSE:AKR) updated its FY17 earnings guidance on Tuesday. The company provided EPS guidance of $1.44-1.54 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.48.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Acadia Realty Trust from a hold rating to a sell rating in a report on Wednesday, July 12th. BMO Capital Markets restated a buy rating and issued a $36.00 target price on shares of Acadia Realty Trust in a report on Wednesday, June 21st. BidaskClub upgraded shares of Acadia Realty Trust from a strong sell rating to a sell rating in a report on Wednesday, June 14th. TheStreet cut shares of Acadia Realty Trust from a b- rating to a c rating in a report on Monday, April 24th. Finally, Citigroup Inc. restated a neutral rating and issued a $30.00 target price (down previously from $35.00) on shares of Acadia Realty Trust in a report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $34.60.
Shares of Acadia Realty Trust (NYSE AKR) traded up 1.29% during midday trading on Tuesday, reaching $28.99. 626,639 shares of the company traded hands. The company has a 50 day moving average price of $27.96 and a 200 day moving average price of $29.83. The company has a market capitalization of $2.46 billion, a PE ratio of 39.55 and a beta of 0.58. Acadia Realty Trust has a 1-year low of $26.70 and a 1-year high of $38.01.
Acadia Realty Trust (NYSE:AKR) last released its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.29. The company had revenue of $59.50 million for the quarter, compared to the consensus estimate of $53.72 million. Acadia Realty Trust had a net margin of 27.19% and a return on equity of 2.92%. Acadia Realty Trust’s revenue was up 35.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 EPS. On average, analysts expect that Acadia Realty Trust will post $0.40 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.59%. The ex-dividend date was Wednesday, June 28th. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 140.54%.
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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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