Acadia Realty Trust (AKR) Updates 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 down 2.14% on Friday, hitting $28.84. The stock had a trading volume of 367,546 shares. Acadia Realty Trust has a one year low of $26.70 and a one year high of $37.54. The stock has a 50-day moving average of $28.70 and a 200-day moving average of $29.62. The company has a market cap of $2.41 billion, a PE ratio of 44.64 and a beta of 0.59.

Acadia Realty Trust (NYSE:AKR) last announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.29. Acadia Realty Trust had a return on equity of 2.50% and a net margin of 23.63%. The business had revenue of $59.50 million during the quarter, compared to analysts’ expectations of $53.72 million. During the same quarter last year, the business posted $0.37 earnings per share. The company’s quarterly revenue was up 35.2% on a year-over-year basis. Equities analysts expect that Acadia Realty Trust will post $0.44 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be paid a dividend of $0.26 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.04 annualized dividend and a yield of 3.61%. Acadia Realty Trust’s dividend payout ratio is currently 162.50%.

Several equities research analysts have recently commented on AKR shares. Zacks Investment Research raised Acadia Realty Trust from a sell rating to a hold rating in a report on Thursday, April 27th. Boenning Scattergood set a $35.00 price objective on Acadia Realty Trust and gave the stock a buy rating in a research note on Thursday, July 27th. KeyCorp reduced their price objective on 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. BidaskClub raised Acadia Realty Trust from a hold rating to a buy rating in a research note on Wednesday, July 19th. Finally, Citigroup Inc. reissued a neutral rating and issued a $30.00 price objective (down from $35.00) on shares of Acadia Realty Trust in a research note on Tuesday, June 6th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $34.60.

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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.

Earnings History and Estimates for Acadia Realty Trust (NYSE:AKR)

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