Acadia Realty Trust (NYSE:AKR) Issues FY 2024 Earnings Guidance

Acadia Realty Trust (NYSE:AKR) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 1.260-1.320 for the period, compared to the consensus EPS estimate of 1.280. The company issued revenue guidance of -. Acadia Realty Trust also updated its FY24 guidance to $1.26-1.32 EPS.

Wall Street Analysts Forecast Growth

Several research firms have commented on AKR. JPMorgan Chase & Co. raised shares of Acadia Realty Trust from an underweight rating to a neutral rating and set a $18.00 price target for the company in a research report on Wednesday, June 26th. StockNews.com raised shares of Acadia Realty Trust from a sell rating to a hold rating in a research report on Thursday. Finally, Bank of America raised shares of Acadia Realty Trust from a neutral rating to a buy rating and increased their price target for the company from $18.00 to $20.00 in a research report on Friday, April 5th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Acadia Realty Trust presently has an average rating of Hold and a consensus target price of $18.40.

Acadia Realty Trust Stock Performance

AKR traded down $0.19 during trading on Friday, reaching $21.47. 1,739,070 shares of the company’s stock were exchanged, compared to its average volume of 1,040,234. Acadia Realty Trust has a 1 year low of $13.24 and a 1 year high of $22.51. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $2.22 billion, a P/E ratio of 270.75, a price-to-earnings-growth ratio of 5.70 and a beta of 1.46. The company’s fifty day simple moving average is $18.33 and its 200-day simple moving average is $17.38.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The business had revenue of $87.25 million for the quarter, compared to analysts’ expectations of $70.16 million. During the same period in the prior year, the business posted $0.36 earnings per share. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. As a group, research analysts predict that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Acadia Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.19 per share. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.54%. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 900.00%.

About Acadia Realty Trust

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.