Acadia Realty Trust (AKR) Expected to Announce Earnings of $0.37 Per Share

Wall Street analysts expect that Acadia Realty Trust (NYSE:AKR) will report earnings of $0.37 per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Acadia Realty Trust’s earnings. The highest EPS estimate is $0.37 and the lowest is $0.36. Acadia Realty Trust reported earnings per share of $0.41 in the same quarter last year, which suggests a negative year-over-year growth rate of 9.8%. The company is expected to report its next earnings report after the market closes on Monday, April 24th.

According to Zacks, analysts expect that Acadia Realty Trust will report full-year earnings of $1.48 per share for the current year, with EPS estimates ranging from $1.46 to $1.51. For the next financial year, analysts expect that the company will post earnings of $1.63 per share, with EPS estimates ranging from $1.61 to $1.65. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow Acadia Realty Trust.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Tuesday, February 14th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Acadia Realty Trust had a net margin of 29.38% and a return on equity of 3.56%. The firm had revenue of $54.12 million for the quarter, compared to analysts’ expectations of $46.46 million. During the same period last year, the firm earned $0.35 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, April 7th. BMO Capital Markets reissued a “buy” rating and set a $36.00 target price on shares of Acadia Realty Trust in a research note on Wednesday, April 5th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $37.25.

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Shares of Acadia Realty Trust (NYSE:AKR) traded down 0.98% during trading on Tuesday, reaching $31.42. 706,065 shares of the company’s stock were exchanged. The stock has a market cap of $2.66 billion, a PE ratio of 33.43 and a beta of 0.60. The stock’s 50 day moving average price is $30.55 and its 200-day moving average price is $32.31. Acadia Realty Trust has a 52-week low of $29.23 and a 52-week high of $38.01.

The business also recently announced a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Friday, March 31st were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Wednesday, March 29th. Acadia Realty Trust’s dividend payout ratio is presently 122.35%.

In related news, Director Wendy W. Luscombe sold 1,500 shares of the stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $31.69, for a total transaction of $47,535.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Christopher Conlon sold 7,500 shares of the stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $31.04, for a total transaction of $232,800.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,000 shares of company stock worth $755,535. 2.22% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AKR. Quadrant Capital Management LLC raised its position in shares of Acadia Realty Trust by 0.3% in the third quarter. Quadrant Capital Management LLC now owns 22,927 shares of the real estate investment trust’s stock valued at $831,000 after buying an additional 75 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Acadia Realty Trust by 10.0% in the third quarter. Bank of New York Mellon Corp now owns 1,060,352 shares of the real estate investment trust’s stock valued at $38,427,000 after buying an additional 96,179 shares in the last quarter. TD Asset Management Inc. raised its position in shares of Acadia Realty Trust by 39.8% in the third quarter. TD Asset Management Inc. now owns 15,100 shares of the real estate investment trust’s stock valued at $547,000 after buying an additional 4,300 shares in the last quarter. Aperio Group LLC raised its position in shares of Acadia Realty Trust by 2.7% in the third quarter. Aperio Group LLC now owns 23,318 shares of the real estate investment trust’s stock valued at $845,000 after buying an additional 607 shares in the last quarter. Finally, Trillium Asset Management LLC raised its position in shares of Acadia Realty Trust by 88.1% in the third quarter. Trillium Asset Management LLC now owns 80,867 shares of the real estate investment trust’s stock valued at $2,931,000 after buying an additional 37,880 shares in the last quarter.

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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