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

Acadia Realty Trust (NYSE:AKR) announced 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 of this dividend is Monday, March 31st. This is a positive change 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. Equities 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 Performance

Shares of NYSE:AKR traded up $0.35 during trading on Wednesday, hitting $24.10. 1,526,014 shares of the stock traded hands, 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 company has a fifty day moving average price of $23.69 and a two-hundred day moving average price of $23.45. Acadia Realty Trust has a 52-week low of $16.09 and a 52-week high of $26.29. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 267.78, a P/E/G ratio of 6.24 and a beta of 1.46.

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

Wall Street Analysts Forecast Growth

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

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.