Acadia Realty Trust (NYSE:AKR) Releases FY 2024 Earnings Guidance

Acadia Realty Trust (NYSE:AKR) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 1.260-1.320 for the period, compared to the consensus EPS estimate of 1.280. The company issued revenue guidance of -. Acadia Realty Trust also updated its FY24 guidance to $1.26-1.32 EPS.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AKR. JPMorgan Chase & Co. raised Acadia Realty Trust from an underweight rating to a neutral rating and set a $18.00 price objective for the company in a report on Wednesday, June 26th. Bank of America raised Acadia Realty Trust from a neutral rating to a buy rating and raised their price target for the stock from $18.00 to $20.00 in a research report on Friday, April 5th. Finally, StockNews.com raised Acadia Realty Trust from a sell rating to a hold rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $18.40.

Acadia Realty Trust Trading Down 0.9 %

Shares of NYSE:AKR traded down $0.19 during midday trading on Friday, reaching $21.47. The company’s stock had a trading volume of 1,739,070 shares, compared to its average volume of 1,040,234. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 270.75, a price-to-earnings-growth ratio of 5.70 and a beta of 1.46. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.77. Acadia Realty Trust has a 1 year low of $13.24 and a 1 year high of $22.51. The business has a 50 day moving average price of $18.33 and a 200 day moving average price of $17.38.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. The firm had revenue of $87.25 million for the quarter, compared to analysts’ expectations of $70.16 million. During the same period last year, the firm posted $0.36 EPS. Acadia Realty Trust’s revenue was down 3.0% on a year-over-year basis. Research analysts forecast that Acadia Realty Trust will post 1.28 EPS for the current year.

Acadia Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Monday, September 30th. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.18. Acadia Realty Trust’s payout ratio is currently 900.00%.

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.