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 guidance of $1.44-1.54 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.48.

Acadia Realty Trust (NYSE AKR) traded up 0.75% during midday trading on Friday, reaching $29.75. The company had a trading volume of 286,520 shares. The stock has a market capitalization of $2.49 billion, a PE ratio of 46.05 and a beta of 0.59. Acadia Realty Trust has a 1-year low of $26.70 and a 1-year high of $37.54. The firm’s 50 day moving average is $28.31 and its 200 day moving average is $29.71.

Acadia Realty Trust (NYSE:AKR) last issued its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.29. Acadia Realty Trust had a net margin of 23.63% and a return on equity of 2.50%. The company had revenue of $59.50 million for the quarter, compared to analyst estimates of $53.72 million. During the same period in the prior year, the business posted $0.37 earnings per share. The firm’s revenue for the quarter was up 35.2% compared to the same quarter last year. On average, equities analysts anticipate that Acadia Realty Trust will post $0.43 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were given a $0.26 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.04 annualized dividend and a dividend yield of 3.50%. Acadia Realty Trust’s dividend payout ratio is presently 162.50%.

Several analysts have recently commented on AKR shares. Zacks Investment Research upgraded shares of Acadia Realty Trust from a sell rating to a hold rating in a research report on Friday, April 7th. TheStreet downgraded shares of Acadia Realty Trust from a b- rating to a c rating in a research note on Monday, April 24th. Citigroup Inc. reissued a neutral rating and set a $30.00 price objective (down previously from $35.00) on shares of Acadia Realty Trust in a research note on Tuesday, June 6th. 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, BMO Capital Markets reissued a buy rating and set a $36.00 price objective on shares of Acadia Realty Trust in a research note on Wednesday, June 21st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Buy 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.