Wall Street brokerages expect Acadia Realty Trust (NYSE:AKR) to announce $49.15 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Acadia Realty Trust’s earnings. The lowest sales estimate is $47.71 million and the highest is $50.58 million. Acadia Realty Trust posted sales of $51.10 million in the same quarter last year, which suggests a negative year over year growth rate of 3.8%. The company is scheduled to report its next quarterly earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that Acadia Realty Trust will report full-year sales of $49.15 million for the current fiscal year, with estimates ranging from $195.50 million to $199.63 million. For the next year, analysts forecast that the firm will report sales of $205.88 million per share, with estimates ranging from $199.16 million to $212.60 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Acadia Realty Trust.
Acadia Realty Trust (NYSE:AKR) last posted its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.29. Acadia Realty Trust had a return on equity of 2.50% and a net margin of 23.63%. The company had revenue of $59.50 million for the quarter, compared to analyst estimates of $53.72 million. During the same quarter last year, the company earned $0.37 earnings per share. The company’s revenue for the quarter was up 35.2% on a year-over-year basis.
AKR has been the topic of a number of analyst reports. Zacks Investment Research raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, April 27th. Boenning Scattergood set a $35.00 price target on Acadia Realty Trust and gave the stock a “buy” rating in a research report on Thursday, July 27th. BidaskClub raised Acadia Realty Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Citigroup Inc. reissued a “neutral” rating and issued a $30.00 price target (down from $35.00) on shares of Acadia Realty Trust in a research report on Tuesday, June 6th. Finally, TheStreet cut Acadia Realty Trust from a “b-” rating to a “c” rating in a research report on Monday, April 24th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $34.60.
Acadia Realty Trust (AKR) traded down 0.79% on Monday, hitting $28.88. The stock had a trading volume of 401,372 shares. Acadia Realty Trust has a 1-year low of $26.70 and a 1-year high of $37.54. The stock has a 50 day moving average price of $28.83 and a 200 day moving average price of $29.54. The company has a market cap of $2.42 billion, a P/E ratio of 44.71 and a beta of 0.59.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a $0.26 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.04 annualized dividend and a yield of 3.60%. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 162.50%.
Institutional investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY boosted its position in Acadia Realty Trust by 0.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 59,930 shares of the real estate investment trust’s stock valued at $1,801,000 after buying an additional 155 shares during the period. Nationwide Fund Advisors boosted its position in Acadia Realty Trust by 0.4% in the second quarter. Nationwide Fund Advisors now owns 52,380 shares of the real estate investment trust’s stock valued at $1,456,000 after buying an additional 214 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in Acadia Realty Trust by 1.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 18,470 shares of the real estate investment trust’s stock valued at $555,000 after buying an additional 290 shares during the period. GAM Holding AG boosted its position in Acadia Realty Trust by 5.5% in the second quarter. GAM Holding AG now owns 6,880 shares of the real estate investment trust’s stock valued at $191,000 after buying an additional 356 shares during the period. Finally, Quadrant Capital Management LLC boosted its position in Acadia Realty Trust by 1.7% in the first quarter. Quadrant Capital Management LLC now owns 23,002 shares of the real estate investment trust’s stock valued at $691,000 after buying an additional 375 shares during the period.
Acadia Realty Trust Company Profile
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, development and management of retail properties located in the United States. It operates through three segments: Core Portfolio, Funds and Structured Financing. Core Portfolio and Fund properties primarily consist of street and urban retail, and dense suburban shopping centers.
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