Acadia Realty Trust (AKR) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS
Acadia Realty Trust (NYSE:AKR) announced its quarterly earnings results on Thursday. The real estate investment trust reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01, Bloomberg Earnings reports. The company had revenue of $51.70 million during the quarter, compared to the consensus estimate of $55.94 million. Acadia Realty Trust had a net margin of 23.63% and a return on equity of 2.50%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 earnings per share.
The company also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.69%. The ex-dividend date was Thursday, September 28th. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 162.50%.
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AKR has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. BidaskClub raised shares of Acadia Realty Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, Boenning Scattergood set a $35.00 price target on shares of Acadia Realty Trust and gave the company a “buy” rating in a research report on Thursday, July 27th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $33.50.
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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