Acadia Realty Trust (NYSE:AKR) Declares Quarterly Dividend of $0.20

Acadia Realty Trust (NYSE:AKR) declared a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.20 per share by the real estate investment trust on Tuesday, April 15th. This represents a $0.80 annualized dividend and a yield of 3.32%. The ex-dividend date is Monday, March 31st. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.19.

Acadia Realty Trust has raised its dividend by an average of 7.2% annually over the last three years. Acadia Realty Trust has a dividend payout ratio of 172.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Acadia Realty Trust to earn $1.34 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 56.7%.

Acadia Realty Trust Stock Up 1.5 %

Shares of Acadia Realty Trust stock traded up $0.35 on Wednesday, reaching $24.10. The stock had a trading volume of 1,526,014 shares, compared to its average volume of 900,688. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $2.88 billion, a P/E ratio of 267.78, a P/E/G ratio of 6.24 and a beta of 1.46. The company has a 50 day moving average price of $23.69 and a 200 day moving average price of $23.45. Acadia Realty Trust has a 1 year low of $16.09 and a 1 year high of $26.29.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. As a group, equities research analysts forecast that Acadia Realty Trust will post 1.28 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AKR. StockNews.com lowered shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, December 2nd. Truist Financial boosted their price objective on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Acadia Realty Trust currently has an average rating of “Hold” and a consensus target price of $23.00.

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.