Zacks: Brokerages Anticipate Acadia Realty Trust (AKR) Will Announce Quarterly Sales of $49.36 Million

Equities research analysts expect Acadia Realty Trust (NYSE:AKR) to report sales of $49.36 million for the current quarter, according to Zacks. Two analysts have issued estimates for Acadia Realty Trust’s earnings, with estimates ranging from $48.14 million to $50.58 million. Acadia Realty Trust reported sales of $51.10 million during the same quarter last year, which would suggest a negative year over year growth rate of 3.4%. The company is expected to issue its next quarterly earnings report on Tuesday, October 24th.

According to Zacks, analysts expect that Acadia Realty Trust will report full-year sales of $49.36 million for the current year, with estimates ranging from $198.88 million to $199.63 million. For the next fiscal year, analysts expect that the firm will post sales of $204.67 million per share, with estimates ranging from $196.74 million to $212.60 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Acadia Realty Trust.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.29. The business had revenue of $59.50 million for the quarter, compared to analyst estimates of $53.72 million. Acadia Realty Trust had a return on equity of 2.50% and a net margin of 23.63%. Acadia Realty Trust’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS.

A number of research analysts recently commented on the company. BidaskClub raised Acadia Realty Trust from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. KeyCorp reduced their target price on Acadia Realty Trust from $37.00 to $33.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 28th. BMO Capital Markets reissued a “buy” rating and issued a $36.00 target price on shares of Acadia Realty Trust in a research note on Wednesday, June 21st. Citigroup Inc. reissued a “neutral” rating and issued a $30.00 target price (down previously from $35.00) on shares of Acadia Realty Trust in a research note on Tuesday, June 6th. Finally, Zacks Investment Research cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $34.60.

Shares of Acadia Realty Trust (AKR) traded down 0.79% during midday trading on Wednesday, reaching $28.97. The company had a trading volume of 445,834 shares. The company has a 50 day moving average of $29.21 and a 200 day moving average of $29.03. The company has a market capitalization of $2.42 billion, a PE ratio of 44.85 and a beta of 0.59. Acadia Realty Trust has a one year low of $26.70 and a one year high of $37.54.

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 $0.26 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.04 dividend on an annualized basis and a yield of 3.59%. Acadia Realty Trust’s dividend payout ratio is presently 162.50%.

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Large investors have recently made changes to their positions in the company. Riverhead Capital Management LLC grew its stake in shares of Acadia Realty Trust by 135.5% during the second quarter. Riverhead Capital Management LLC now owns 5,416 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 3,116 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Acadia Realty Trust by 72.2% during the second quarter. Royal Bank of Canada now owns 6,620 shares of the real estate investment trust’s stock valued at $184,000 after buying an additional 2,775 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Acadia Realty Trust by 42.2% during the first quarter. Daiwa Securities Group Inc. now owns 6,741 shares of the real estate investment trust’s stock valued at $203,000 after buying an additional 2,000 shares during the last quarter. GAM Holding AG grew its stake in shares of Acadia Realty Trust by 5.5% during the second quarter. GAM Holding AG now owns 6,880 shares of the real estate investment trust’s stock valued at $191,000 after buying an additional 356 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its stake in shares of Acadia Realty Trust by 6.8% during the second quarter. Ameritas Investment Partners Inc. now owns 7,376 shares of the real estate investment trust’s stock valued at $205,000 after buying an additional 472 shares during the last quarter.

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

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