Acadia Realty Trust (AKR) Scheduled to Post Quarterly Earnings on Monday

Acadia Realty Trust (NYSE:AKR) is scheduled to issue its quarterly earnings data before the market opens on Monday, October 28th. Analysts expect the company to announce earnings of $0.32 per share for the quarter. Acadia Realty Trust has set its FY24 guidance at $1.26-1.32 EPS and its FY 2024 guidance at 1.260-1.320 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). The business had revenue of $87.25 million during the quarter, compared to analyst estimates of $70.16 million. Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 EPS. On average, analysts expect Acadia Realty Trust to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Acadia Realty Trust Stock Down 1.1 %

AKR stock opened at $24.01 on Friday. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 6.30 and a beta of 1.47. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76. Acadia Realty Trust has a 12 month low of $13.24 and a 12 month high of $24.75. The firm has a 50-day moving average of $23.00 and a two-hundred day moving average of $19.90.

Acadia Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.19 dividend. This is an increase from Acadia Realty Trust’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a yield of 3.17%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, October 14th. Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and raised their price target for the stock from $23.00 to $27.00 in a report on Thursday, October 10th. Finally, Truist Financial raised their price target on shares of Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average 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.