Acadia Realty Trust (AKR) Releases FY17 Earnings Guidance

Acadia Realty Trust (NYSE:AKR) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.44-1.54 for the period, compared to the Thomson Reuters consensus estimate of $1.48.

Acadia Realty Trust (AKR) traded up 1.29% during mid-day trading on Tuesday, hitting $28.99. 626,639 shares of the stock traded hands. The company has a 50 day moving average of $27.96 and a 200-day moving average of $29.83. The stock has a market cap of $2.46 billion, a PE ratio of 39.55 and a beta of 0.58. Acadia Realty Trust has a 12-month low of $26.70 and a 12-month high of $38.01.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.29. Acadia Realty Trust had a net margin of 27.19% and a return on equity of 2.92%. The company had revenue of $59.50 million during the quarter, compared to the consensus estimate of $53.72 million. During the same quarter in the prior year, the company posted $0.37 EPS. The company’s quarterly revenue was up 35.2% compared to the same quarter last year. Equities research analysts forecast that Acadia Realty Trust will post $0.40 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend was Wednesday, June 28th. Acadia Realty Trust’s dividend payout ratio is currently 140.54%.

A number of 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, March 31st. BMO Capital Markets reaffirmed a buy rating and set a $36.00 price objective on shares of Acadia Realty Trust in a research note on Wednesday, April 5th. TheStreet downgraded shares of Acadia Realty Trust from a b- rating to a c rating in a research note on Monday, April 24th. BidaskClub raised shares of Acadia Realty Trust from a strong sell rating to a sell rating in a research note on Wednesday, June 14th. Finally, KeyCorp dropped their price objective on shares of Acadia Realty Trust from $37.00 to $33.00 and set an overweight rating for the company in a research note on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $34.60.

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About Acadia Realty Trust

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.