Acadia Realty Trust (NYSE:AKR) Releases Earnings Results, Misses Expectations By $0.27 EPS

Acadia Realty Trust (NYSE:AKR) released its earnings results on Tuesday. The real estate investment trust reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.27), Yahoo Finance reports. Acadia Realty Trust had a return on equity of 0.39% and a net margin of 2.38%. The firm had revenue of $91.36 million for the quarter, compared to the consensus estimate of $69.75 million. During the same period in the prior year, the business earned $0.40 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis.

Acadia Realty Trust Price Performance

NYSE AKR opened at $17.09 on Thursday. Acadia Realty Trust has a 1 year low of $12.37 and a 1 year high of $17.90. The company has a fifty day simple moving average of $16.75 and a 200 day simple moving average of $16.25. The company has a current ratio of 0.90, a quick ratio of 0.87 and a debt-to-equity ratio of 0.77. The company has a market cap of $1.76 billion, a P/E ratio of 213.56, a P/E/G ratio of 11.54 and a beta of 1.41.

Acadia Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date was Wednesday, March 27th. Acadia Realty Trust’s dividend payout ratio is 900.00%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Truist Financial lowered shares of Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 price target for the company. in a research report on Tuesday, January 16th. Bank of America raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their target price for the company from $18.00 to $20.00 in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.50.

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.