FY2018 EPS Estimates for Acadia Realty Trust (NYSE:AKR) Reduced by Analyst
Acadia Realty Trust (NYSE:AKR) – Equities research analysts at KeyCorp reduced their FY2018 earnings estimates for shares of Acadia Realty Trust in a report released on Thursday. KeyCorp analyst T. Thomas now forecasts that the real estate investment trust will post earnings of $1.60 per share for the year, down from their previous forecast of $1.63. KeyCorp has a “Overweight” rating and a $33.00 price objective on the stock.
A number of other analysts have also commented on AKR. TheStreet lowered shares of Acadia Realty Trust from a “b-” rating to a “c” rating in a report on Monday, April 24th. Zacks Investment Research raised shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, April 27th. Citigroup Inc. reissued a “neutral” rating and issued a $30.00 price target (down previously from $35.00) on shares of Acadia Realty Trust in a report on Tuesday, June 6th. BidaskClub raised shares of Acadia Realty Trust from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $36.00 price target on shares of Acadia Realty Trust in a report on Wednesday, June 21st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $34.60.
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Shares of Acadia Realty Trust (AKR) opened at 29.75 on Monday. The stock’s 50 day moving average price is $28.31 and its 200 day moving average price is $29.71. Acadia Realty Trust has a 1-year low of $26.70 and a 1-year high of $37.54. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 46.05 and a beta of 0.59.
Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data 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 business had revenue of $59.50 million during the quarter, compared to analyst estimates of $53.72 million. Acadia Realty Trust had a return on equity of 2.50% and a net margin of 23.63%. The company’s revenue was up 35.2% compared to the same quarter last year. During the same period last year, the company posted $0.37 EPS.
The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date was Wednesday, June 28th. Acadia Realty Trust’s payout ratio is presently 162.50%.
A number of institutional investors have recently made changes to their positions in AKR. GAM Holding AG raised its position in shares of Acadia Realty Trust by 5.5% in the second quarter. GAM Holding AG now owns 6,880 shares of the real estate investment trust’s stock worth $191,000 after buying an additional 356 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Acadia Realty Trust by 42.2% in the first quarter. Daiwa Securities Group Inc. now owns 6,741 shares of the real estate investment trust’s stock worth $203,000 after buying an additional 2,000 shares during the last quarter. Princeton Alpha Management LP bought a new position in shares of Acadia Realty Trust during the first quarter worth $225,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Acadia Realty Trust during the first quarter worth $327,000. Finally, Jane Street Group LLC bought a new position in shares of Acadia Realty Trust during the first quarter worth $344,000.
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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