Zacks: Brokerages Anticipate Acadia Realty Trust (AKR) Will Announce Quarterly Sales of $50.00 Million

Wall Street brokerages expect Acadia Realty Trust (NYSE:AKR) to announce sales of $50.00 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Acadia Realty Trust’s earnings, with the highest sales estimate coming in at $50.60 million and the lowest estimate coming in at $49.40 million. Acadia Realty Trust reported sales of $54.12 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 7.6%. The firm is expected to report its next earnings report after the market closes on Wednesday, February 21st.

According to Zacks, analysts expect that Acadia Realty Trust will report full-year sales of $50.00 million for the current fiscal year, with estimates ranging from $197.20 million to $200.37 million. For the next fiscal year, analysts forecast that the firm will report sales of $199.71 million per share, with estimates ranging from $195.11 million to $204.31 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Acadia Realty Trust.

A number of brokerages recently issued reports on AKR. Zacks Investment Research cut shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, November 15th. Boenning Scattergood set a $35.00 price objective on shares of Acadia Realty Trust and gave the company a “buy” rating in a research report on Wednesday, December 6th. Finally, KeyCorp cut shares of Acadia Realty Trust from an “overweight” rating to a “hold” rating in a research report on Monday, November 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Acadia Realty Trust presently has an average rating of “Hold” and an average price target of $33.50.

Shares of Acadia Realty Trust (NYSE AKR) opened at $22.09 on Monday. The stock has a market cap of $1,849.06, a PE ratio of 14.44, a P/E/G ratio of 1.70 and a beta of 0.46. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.48. Acadia Realty Trust has a 1 year low of $21.34 and a 1 year high of $32.89.

A number of institutional investors and hedge funds have recently bought and sold shares of AKR. JPMorgan Chase & Co. increased its position in Acadia Realty Trust by 385.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,408 shares of the real estate investment trust’s stock valued at $45,377,000 after acquiring an additional 1,253,864 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Acadia Realty Trust by 7.1% in the 4th quarter. BlackRock Inc. now owns 13,097,046 shares of the real estate investment trust’s stock valued at $358,335,000 after purchasing an additional 872,787 shares during the last quarter. Citadel Advisors LLC boosted its stake in shares of Acadia Realty Trust by 361.4% in the 4th quarter. Citadel Advisors LLC now owns 774,116 shares of the real estate investment trust’s stock valued at $21,179,000 after purchasing an additional 606,346 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Acadia Realty Trust by 176.3% in 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 purchasing an additional 238,806 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in shares of Acadia Realty Trust by 307.3% in the 3rd quarter. Nationwide Fund Advisors now owns 213,321 shares of the real estate investment trust’s stock valued at $6,105,000 after purchasing an additional 160,941 shares during the last quarter.

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Acadia Realty Trust Company Profile

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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Earnings History and Estimates for Acadia Realty Trust (NYSE:AKR)

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