Analysts Expect Acadia Realty Trust (AKR) to Announce $0.36 EPS
Wall Street analysts expect Acadia Realty Trust (NYSE:AKR) to announce earnings per share (EPS) of $0.36 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Acadia Realty Trust’s earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.37. Acadia Realty Trust posted earnings of $0.37 per share during the same quarter last year, which would suggest a negative year over year growth rate of 2.7%. The firm is expected to report its next earnings results after the market closes on Tuesday, July 25th.
According to Zacks, 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 $1.46 to $1.50. For the next fiscal year, analysts expect that the business will report earnings of $1.58 per share, with EPS estimates ranging from $1.50 to $1.63. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Acadia Realty Trust.
Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results on Monday, April 24th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. Acadia Realty Trust had a net margin of 27.19% and a return on equity of 2.92%. The firm had revenue of $62 million during the quarter, compared to analyst estimates of $45.41 million. During the same quarter last year, the business earned $0.41 EPS. The company’s revenue was up 29.0% compared to the same quarter last year.
A number of research firms have recently weighed in on AKR. Zacks Investment Research raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, March 31st. BMO Capital Markets reissued a “buy” rating and set a $36.00 price objective on shares of Acadia Realty Trust in a research note on Wednesday, April 5th. TheStreet lowered Acadia Realty Trust from a “b-” rating to a “c” rating in a research note on Monday, April 24th. BidaskClub raised Acadia Realty Trust from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Finally, KeyCorp dropped their price objective on Acadia Realty Trust from $37.00 to $33.00 and set an “overweight” rating for the company in a research note on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $34.60.
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Acadia Realty Trust (NYSE AKR) opened at 28.62 on Tuesday. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 39.05 and a beta of 0.58. The firm’s 50-day moving average is $27.96 and its 200 day moving average is $29.83. Acadia Realty Trust has a 12-month low of $26.70 and a 12-month high of $38.01.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Wednesday, June 28th. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 140.54%.
Several hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its stake in Acadia Realty Trust by 1.6% in the first quarter. Wells Fargo & Company MN now owns 131,585 shares of the real estate investment trust’s stock worth $3,955,000 after buying an additional 2,039 shares during the period. State of New Jersey Common Pension Fund D raised its stake in Acadia Realty Trust by 1.7% in the first quarter. State of New Jersey Common Pension Fund D now owns 547,246 shares of the real estate investment trust’s stock worth $16,450,000 after buying an additional 9,000 shares during the period. State of Alaska Department of Revenue raised its stake in Acadia Realty Trust by 69.9% in the first quarter. State of Alaska Department of Revenue now owns 69,050 shares of the real estate investment trust’s stock worth $2,074,000 after buying an additional 28,400 shares during the period. Quantitative Systematic Strategies LLC bought a new stake in Acadia Realty Trust during the first quarter worth $487,000. Finally, Nisa Investment Advisors LLC raised its stake in Acadia Realty Trust by 11.7% in the first quarter. Nisa Investment Advisors LLC now owns 26,025 shares of the real estate investment trust’s stock worth $782,000 after buying an additional 2,725 shares during the period.
Acadia Realty Trust Company Profile
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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