Acadia Realty Trust (NYSE:AKR) – Analysts at Boenning Scattergood lowered their Q3 2016 EPS estimates for shares of Acadia Realty Trust in a research note issued on Thursday. Boenning Scattergood analyst F. Van. Dijkum now expects that the brokerage will earn $0.32 per share for the quarter, down from their prior estimate of $0.39. Boenning Scattergood currently has a “Outperform” rating and a $38.00 target price on the stock. Boenning Scattergood also issued estimates for Acadia Realty Trust’s Q2 2017 earnings at $0.40 EPS, Q4 2017 earnings at $0.43 EPS, FY2017 earnings at $1.63 EPS, Q1 2018 earnings at $0.43 EPS, Q2 2018 earnings at $0.42 EPS and FY2018 earnings at $1.72 EPS.
A number of other analysts have also weighed in on the company. Zacks Investment Research raised Acadia Realty Trust from a “sell” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Monday. BTIG Research assumed coverage on Acadia Realty Trust in a research report on Thursday, August 25th. They set a “neutral” rating on the stock. Citigroup Inc. upped their price objective on Acadia Realty Trust from $40.50 to $41.50 and gave the stock a “buy” rating in a research report on Friday, August 12th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $40.00 price objective on shares of Acadia Realty Trust in a research report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $39.70.
Acadia Realty Trust (NYSE:AKR) opened at 34.74 on Monday. The company has a 50-day moving average price of $35.88 and a 200-day moving average price of $35.32. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 35.93 and a beta of 0.67. Acadia Realty Trust has a 52 week low of $30.25 and a 52 week high of $38.01.
Acadia Realty Trust (NYSE:AKR) last issued its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.01. The firm earned $51.30 million during the quarter, compared to analysts’ expectations of $40.51 million. Acadia Realty Trust had a return on equity of 4.32% and a net margin of 32.18%. The business’s revenue was down 9.9% on a year-over-year basis. During the same quarter last year, the business earned $0.48 EPS.
The company also recently announced a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.88%. Acadia Realty Trust’s payout ratio is currently 103.09%.
In related news, insider Joel L. Braun sold 22,000 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $37.60, for a total transaction of $827,200.00. Following the completion of the transaction, the insider now owns 24,109 shares in the company, valued at $906,498.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Lee S. Wielansky sold 12,000 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $37.03, for a total transaction of $444,360.00. The disclosure for this sale can be found here. Corporate insiders own 2.22% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Capstone Asset Management Co. increased its position in shares of Acadia Realty Trust by 7.9% in the third quarter. Capstone Asset Management Co. now owns 26,522 shares of the real estate investment trust’s stock worth $961,000 after buying an additional 1,950 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Acadia Realty Trust by 1.5% in the third quarter. Fisher Asset Management LLC now owns 1,064,074 shares of the real estate investment trust’s stock worth $38,562,000 after buying an additional 15,742 shares during the last quarter. Mason Street Advisors LLC purchased a new position in shares of Acadia Realty Trust during the second quarter worth approximately $497,000. Wolverine Asset Management LLC purchased a new position in shares of Acadia Realty Trust during the second quarter worth approximately $161,000. Finally, Royal Bank of Canada increased its position in shares of Acadia Realty Trust by 2,940.5% in the second quarter. Royal Bank of Canada now owns 47,462 shares of the real estate investment trust’s stock worth $1,686,000 after buying an additional 45,901 shares during the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.
Acadia Realty Trust Company Profile
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, redevelopment and management of retail properties located primarily in metropolitan areas in the United States. The Company’s segments include Core Portfolio, Funds and Structured Financing. The Company conducts its operations through Acadia Realty Limited Partnership.
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