Acadia Realty Trust (NYSE:AKR) Releases Earnings Results, Misses Estimates By $0.25 EPS

Acadia Realty Trust (NYSE:AKR) posted its earnings results on Monday. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25), Yahoo Finance reports. The business had revenue of $87.70 million for the quarter, compared to analyst estimates of $70.88 million. Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $0.27 EPS.

Acadia Realty Trust Stock Down 0.7 %

Shares of Acadia Realty Trust stock traded down $0.18 on Tuesday, hitting $24.42. 132,591 shares of the company’s stock traded hands, compared to its average volume of 979,765. The stock has a market cap of $2.52 billion, a P/E ratio of 306.00, a PEG ratio of 6.30 and a beta of 1.47. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.76. The firm’s 50-day moving average is $23.07 and its 200 day moving average is $20.00. Acadia Realty Trust has a 52-week low of $13.24 and a 52-week high of $24.75.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. StockNews.com downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, October 14th. Truist Financial increased their target price on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their price objective for the company from $23.00 to $27.00 in a research report on Thursday, October 10th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.60.

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.