Acadia Realty Trust (NYSE:AKR – Get Free Report) announced its earnings results on Monday. The real estate investment trust reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.27), Yahoo Finance reports. Acadia Realty Trust had a net margin of 5.72% and a return on equity of 0.91%. The company had revenue of $91.36 million during the quarter, compared to analysts’ expectations of $69.75 million. During the same period in the prior year, the business earned $0.40 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Acadia Realty Trust updated its FY24 guidance to $1.24-1.32 EPS and its FY 2024 guidance to 1.240-1.320 EPS.
Acadia Realty Trust Trading Down 1.9 %
Shares of Acadia Realty Trust stock traded down $0.33 on Tuesday, hitting $17.27. The stock had a trading volume of 145,161 shares, compared to its average volume of 1,175,067. The stock’s 50-day simple moving average is $16.73 and its two-hundred day simple moving average is $16.23. Acadia Realty Trust has a one year low of $12.37 and a one year high of $17.90. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.90. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 92.66, a PEG ratio of 11.56 and a beta of 1.44.
Acadia Realty Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Wednesday, March 27th. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 378.97%.
Analysts Set New Price Targets
Check Out Our Latest Analysis on Acadia Realty Trust
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.
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