Analysts Expect Acadia Realty Trust (AKR) Will Post Quarterly Sales of $46.02 Million
Equities analysts expect Acadia Realty Trust (NYSE:AKR) to announce sales of $46.02 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Acadia Realty Trust’s earnings. The highest sales estimate is $47.71 million and the lowest is $44.32 million. Acadia Realty Trust reported sales of $51.10 million during the same quarter last year, which indicates a negative year over year growth rate of 9.9%. The company is scheduled to announce its next quarterly earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that Acadia Realty Trust will report full year sales of $46.02 million for the current fiscal year, with estimates ranging from $178.81 million to $195.50 million. For the next financial year, analysts forecast that the business will post sales of $192.36 million per share, with estimates ranging from $185.55 million to $199.16 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Acadia Realty Trust.
Acadia Realty Trust (NYSE:AKR) last issued its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.29. Acadia Realty Trust had a return on equity of 2.52% and a net margin of 23.63%. The business had revenue of $59.50 million during the quarter, compared to analysts’ expectations of $53.72 million. During the same period in the prior year, the firm posted $0.37 EPS. Acadia Realty Trust’s quarterly revenue was up 35.2% compared to the same quarter last year.
Several equities research analysts recently issued reports on the company. Boenning Scattergood set a $35.00 price target on Acadia Realty Trust and gave the company a “buy” rating in a research note on Thursday. BidaskClub upgraded Acadia Realty Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Zacks Investment Research cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. KeyCorp cut their price target 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. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $36.00 price target on shares of Acadia Realty Trust in a research note on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $34.67.
TRADEMARK VIOLATION NOTICE: “Analysts Expect Acadia Realty Trust (AKR) Will Post Quarterly Sales of $46.02 Million” was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright laws. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/07/27/analysts-expect-acadia-realty-trust-akr-will-post-quarterly-sales-of-46-02-million.html.
Shares of Acadia Realty Trust (NYSE AKR) traded up 0.67% during trading on Thursday, hitting $29.83. The stock had a trading volume of 244,448 shares. Acadia Realty Trust has a 12-month low of $26.70 and a 12-month high of $37.98. The stock has a market capitalization of $2.53 billion, a P/E ratio of 40.70 and a beta of 0.58. The stock’s 50-day moving average is $28.08 and its 200-day moving average is $29.79.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were issued a $0.26 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.04 dividend on an annualized basis and a yield of 3.51%. Acadia Realty Trust’s payout ratio is 162.50%.
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Acadia Realty Trust by 3.6% in the first quarter. Vanguard Group Inc. now owns 13,251,912 shares of the real estate investment trust’s stock worth $398,353,000 after buying an additional 455,193 shares during the last quarter. BlackRock Inc. increased its stake in Acadia Realty Trust by 9,971.2% in the first quarter. BlackRock Inc. now owns 12,171,692 shares of the real estate investment trust’s stock worth $365,879,000 after buying an additional 12,050,835 shares during the last quarter. State Street Corp increased its stake in Acadia Realty Trust by 7.4% in the first quarter. State Street Corp now owns 3,152,708 shares of the real estate investment trust’s stock worth $94,765,000 after buying an additional 216,710 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Acadia Realty Trust by 8.5% in the first quarter. Bank of New York Mellon Corp now owns 1,246,966 shares of the real estate investment trust’s stock worth $37,485,000 after buying an additional 98,174 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Acadia Realty Trust by 10.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,112,019 shares of the real estate investment trust’s stock worth $33,427,000 after buying an additional 106,366 shares during the last quarter.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Acadia Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acadia Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.