Acadia Realty Trust (NYSE:AKR) Announces Dividend Increase – $0.20 Per Share

Acadia Realty Trust (NYSE:AKR) declared a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Investors of record on Monday, March 31st will be paid 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 is Monday, March 31st. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.19.

Acadia Realty Trust has increased its dividend by an average of 7.2% per year over the last three years. Acadia Realty Trust has a dividend payout ratio of 172.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 Trading Up 1.5 %

Shares of Acadia Realty Trust stock opened at $24.10 on Thursday. Acadia Realty Trust has a 52-week low of $16.09 and a 52-week high of $26.29. The firm has a market capitalization of $2.88 billion, a PE ratio of 267.78, a price-to-earnings-growth ratio of 6.24 and a beta of 1.46. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.14 and a quick ratio of 1.14. The company’s fifty day moving average price is $23.66 and its two-hundred day moving average price is $23.46.

Acadia Realty Trust (NYSE:AKR) last posted its earnings results 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%. On average, analysts expect that Acadia Realty Trust will post 1.28 EPS for the current year.

Wall Street Analyst Weigh In

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

Acadia Realty Trust Company Profile

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.