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.
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