Acadia Realty Trust (AKR) To Go Ex-Dividend on September 30th

Acadia Realty Trust (NYSE:AKR) declared a quarterly dividend on Tuesday, July 30th, Zacks reports. Stockholders of record on Monday, September 30th will be given a dividend of 0.19 per share by the real estate investment trust on Tuesday, October 15th. This represents a $0.76 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Monday, September 30th. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.18.

Acadia Realty Trust has raised its dividend payment by an average of 35.4% annually over the last three years. Acadia Realty Trust has a dividend payout ratio of 217.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Trading Up 0.8 %

Shares of AKR stock opened at $23.16 on Friday. The stock has a 50-day moving average of $21.95 and a 200-day moving average of $18.91. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 289.50, a PEG ratio of 5.98 and a beta of 1.47. Acadia Realty Trust has a 1-year low of $13.24 and a 1-year high of $23.37.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data 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). The firm had revenue of $87.25 million for the quarter, compared to analyst estimates of $70.16 million. Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 earnings per share. On average, equities research analysts forecast that Acadia Realty Trust will post 1.29 earnings per share for the current year.

Wall Street Analyst Weigh In

AKR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded Acadia Realty Trust from an “underweight” rating to a “neutral” rating and set a $18.00 target price for the company in a report on Wednesday, June 26th. StockNews.com upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday. Compass Point boosted their target price on Acadia Realty Trust from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Finally, Truist Financial raised their price objective on Acadia Realty Trust from $18.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.80.

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.