Zacks: Analysts Anticipate Acadia Realty Trust (AKR) Will Post Quarterly Sales of $49.36 Million
Equities research analysts expect Acadia Realty Trust (NYSE:AKR) to report sales of $49.36 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Acadia Realty Trust’s earnings. The lowest sales estimate is $48.14 million and the highest is $50.58 million. Acadia Realty Trust posted sales of $51.10 million during the same quarter last year, which suggests a negative year over year growth rate of 3.4%. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, November 2nd.
On average, analysts expect that Acadia Realty Trust will report full-year sales of $49.36 million for the current year, with estimates ranging from $198.88 million to $199.63 million. For the next financial year, analysts anticipate that the firm will post sales of $204.67 million per share, with estimates ranging from $196.74 million to $212.60 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Acadia Realty Trust.
Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.29. The business had revenue of $59.50 million for 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 firm’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 earnings per share.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Acadia Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Friday, July 28th. Boenning Scattergood set a $35.00 target price on shares of Acadia Realty Trust and gave the company a “buy” rating in a research note on Thursday, July 27th. Finally, BidaskClub upgraded shares of Acadia Realty Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $33.50.
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Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its holdings in Acadia Realty Trust by 10.3% in the 1st quarter. Bank of America Corp DE now owns 598,036 shares of the real estate investment trust’s stock valued at $17,978,000 after acquiring an additional 56,015 shares during the period. Westpac Banking Corp raised its holdings in Acadia Realty Trust by 36.1% in the 2nd quarter. Westpac Banking Corp now owns 453,919 shares of the real estate investment trust’s stock valued at $12,619,000 after acquiring an additional 120,472 shares during the period. Russell Investments Group Ltd. raised its holdings in Acadia Realty Trust by 7.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 129,661 shares of the real estate investment trust’s stock valued at $3,618,000 after acquiring an additional 9,250 shares during the period. Lazard Asset Management LLC raised its holdings in Acadia Realty Trust by 86.8% in the 2nd quarter. Lazard Asset Management LLC now owns 20,446 shares of the real estate investment trust’s stock valued at $568,000 after acquiring an additional 9,500 shares during the period. Finally, BNP Paribas Arbitrage SA raised its holdings in Acadia Realty Trust by 14.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 52,862 shares of the real estate investment trust’s stock valued at $1,470,000 after acquiring an additional 6,680 shares during the period.
Acadia Realty Trust (NYSE AKR) opened at 28.54 on Friday. Acadia Realty Trust has a 1-year low of $26.70 and a 1-year high of $34.30. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 44.18 and a beta of 0.60. The stock has a 50 day moving average price of $29.50 and a 200-day moving average price of $28.91.
The business also recently declared a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were issued a $0.26 dividend. The ex-dividend date was Thursday, September 28th. This represents a $1.04 annualized dividend and a yield of 3.64%. Acadia Realty Trust’s dividend payout ratio is currently 162.50%.
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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