Acadia Realty Trust (NYSE:AKR) Announces Quarterly Earnings Results, Misses Expectations By $0.25 EPS

Acadia Realty Trust (NYSE:AKR) released its earnings results on Monday. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.25), Yahoo Finance reports. Acadia Realty Trust had a return on equity of 0.03% and a net margin of 0.20%. The company had revenue of $87.70 million for the quarter, compared to the consensus estimate of $70.88 million. During the same quarter in the previous year, the company posted $0.27 EPS. The business’s revenue was up 7.7% on a year-over-year basis.

Acadia Realty Trust Price Performance

Acadia Realty Trust stock opened at $24.59 on Thursday. Acadia Realty Trust has a 12 month low of $13.48 and a 12 month high of $24.75. The stock’s 50 day moving average is $23.18 and its 200-day moving average is $20.08. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 273.22, a PEG ratio of 6.30 and a beta of 1.47.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AKR shares. Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their target price for the stock from $23.00 to $27.00 in a report on Thursday, October 10th. Truist Financial upped their target price on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, StockNews.com raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.60.

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.