Acadia Realty Trust (AKR) Scheduled to Post Quarterly Earnings on Monday

Acadia Realty Trust (NYSE:AKR) is set to issue its quarterly earnings data before the market opens on Monday, October 28th. Analysts expect the company to announce earnings of $0.32 per share for the quarter. Acadia Realty Trust has set its FY24 guidance at $1.26-1.32 EPS and its FY 2024 guidance at 1.260-1.320 EPS.Parties interested in listening to the company’s conference call can do so using this link.

Acadia Realty Trust (NYSE:AKR) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.30). Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The company had revenue of $87.25 million during the quarter, compared to analyst estimates of $70.16 million. During the same quarter last year, the business posted $0.36 EPS. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, analysts expect Acadia Realty Trust to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Acadia Realty Trust Stock Performance

Shares of AKR stock opened at $24.01 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.76. Acadia Realty Trust has a 52 week low of $13.24 and a 52 week high of $24.75. The stock has a market capitalization of $2.53 billion, a PE ratio of 20.34, a P/E/G ratio of 6.30 and a beta of 1.47. The firm has a 50 day moving average of $23.00 and a two-hundred day moving average of $19.90.

Acadia Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.18.

Wall Street Analyst Weigh In

Several brokerages have commented on AKR. Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their price target for the company from $23.00 to $27.00 in a research report on Thursday, October 10th. Truist Financial raised their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, StockNews.com cut shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $21.60.

Acadia Realty Trust Company Profile

Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual Core Portfolio and Fund operating platforms and its disciplined, location-driven investment strategy. Acadia Realty Trust is accomplishing this goal by building a best-in-class core real estate portfolio with meaningful concentrations of assets in the nation's most dynamic corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.