Acadia Realty Trust (NYSE:AKR) – Investment analysts at Boenning Scattergood reduced their Q2 2018 earnings per share estimates for Acadia Realty Trust in a report released on Wednesday. Boenning Scattergood analyst F. Van. Dijkum now expects that the real estate investment trust will earn $0.33 per share for the quarter, down from their previous estimate of $0.39. Boenning Scattergood currently has a “Buy” rating and a $35.00 target price on the stock. Boenning Scattergood also issued estimates for Acadia Realty Trust’s Q3 2018 earnings at $0.36 EPS.
Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. The firm had revenue of $51.70 million during the quarter, compared to analysts’ expectations of $55.94 million. Acadia Realty Trust had a net margin of 25.34% and a return on equity of 2.77%. Acadia Realty Trust’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 EPS.
Shares of Acadia Realty Trust (AKR) opened at $27.45 on Monday. The firm has a market cap of $2,297.73, a price-to-earnings ratio of 17.94, a P/E/G ratio of 1.87 and a beta of 0.61. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.48 and a current ratio of 0.48. Acadia Realty Trust has a 52 week low of $26.70 and a 52 week high of $34.30.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be paid a $0.27 dividend. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.08 annualized dividend and a dividend yield of 3.93%. Acadia Realty Trust’s dividend payout ratio (DPR) is 146.48%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System lifted its stake in shares of Acadia Realty Trust by 5.6% in the third quarter. California Public Employees Retirement System now owns 132,315 shares of the real estate investment trust’s stock valued at $3,787,000 after purchasing an additional 6,987 shares during the period. Pinebridge Investments L.P. lifted its stake in shares of Acadia Realty Trust by 158.1% in the third quarter. Pinebridge Investments L.P. now owns 48,309 shares of the real estate investment trust’s stock valued at $1,383,000 after purchasing an additional 29,594 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Acadia Realty Trust by 3.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,235,503 shares of the real estate investment trust’s stock valued at $35,360,000 after purchasing an additional 39,392 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in Acadia Realty Trust by 7.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 924,941 shares of the real estate investment trust’s stock valued at $26,472,000 after acquiring an additional 64,702 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Acadia Realty Trust by 176.3% during the 3rd quarter. Wells Fargo & Company MN now owns 374,263 shares of the real estate investment trust’s stock valued at $10,712,000 after acquiring an additional 238,806 shares in the last quarter.
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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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