Analysts expect that Acadia Realty Trust (NYSE:AKR) will post $49.94 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Acadia Realty Trust’s earnings, with the lowest sales estimate coming in at $48.38 million and the highest estimate coming in at $51.51 million. Acadia Realty Trust reported sales of $62.00 million in the same quarter last year, which would suggest a negative year over year growth rate of 19.5%. The company is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, May 1st.
According to Zacks, analysts expect that Acadia Realty Trust will report full-year sales of $197.15 million for the current year, with estimates ranging from $191.71 million to $202.60 million. For the next year, analysts anticipate that the firm will report sales of $196.50 million per share, with estimates ranging from $195.60 million to $197.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Acadia Realty Trust.
Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.08). Acadia Realty Trust had a return on equity of 2.81% and a net margin of 24.56%. The company had revenue of $66.08 million for the quarter, compared to analyst estimates of $50.00 million.
In related news, insider Joseph Napolitano sold 14,626 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $25.26, for a total transaction of $369,452.76. Following the completion of the sale, the insider now owns 14,744 shares in the company, valued at $372,433.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.15% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB purchased a new stake in Acadia Realty Trust during the fourth quarter worth approximately $247,000. William Blair Investment Management LLC lifted its stake in Acadia Realty Trust by 12.5% in the fourth quarter. William Blair Investment Management LLC now owns 871,587 shares of the real estate investment trust’s stock valued at $23,847,000 after buying an additional 97,018 shares during the last quarter. Phocas Financial Corp. purchased a new stake in Acadia Realty Trust in the fourth quarter valued at approximately $9,714,000. MetLife Investment Advisors LLC purchased a new stake in Acadia Realty Trust in the fourth quarter valued at approximately $1,055,000. Finally, Eii Capital Management Inc. purchased a new stake in Acadia Realty Trust in the fourth quarter valued at approximately $383,000.
Shares of Acadia Realty Trust stock opened at $22.65 on Friday. Acadia Realty Trust has a one year low of $21.34 and a one year high of $31.69. The stock has a market cap of $1,896.60, a PE ratio of 15.00, a P/E/G ratio of 2.36 and a beta of 0.41. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.40 and a quick ratio of 0.40.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 13th. Stockholders of record on Friday, March 30th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend was Wednesday, March 28th. Acadia Realty Trust’s dividend payout ratio is presently 71.52%.
Acadia Realty Trust announced that its board has authorized a stock repurchase program on Wednesday, February 21st that allows the company to buyback $200.00 million in shares. This buyback authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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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.
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