Acadia Realty Trust (NYSE:AKR) Announces $0.18 Quarterly Dividend

Acadia Realty Trust (NYSE:AKR) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Friday, June 28th will be given a dividend of 0.18 per share by the real estate investment trust on Monday, July 15th. This represents a $0.72 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend is Friday, June 28th.

Acadia Realty Trust has increased its dividend by an average of 35.4% annually over the last three years. Acadia Realty Trust has a payout ratio of 300.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Acadia Realty Trust to earn $1.32 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 54.5%.

Acadia Realty Trust Trading Down 2.2 %

AKR traded down $0.38 during midday trading on Friday, hitting $16.93. The company’s stock had a trading volume of 716,443 shares, compared to its average volume of 1,175,680. The company has a current ratio of 0.90, a quick ratio of 0.87 and a debt-to-equity ratio of 0.77. The firm has a market cap of $1.75 billion, a P/E ratio of 211.56, a PEG ratio of 11.41 and a beta of 1.41. The firm has a 50-day moving average price of $16.77 and a two-hundred day moving average price of $16.26. Acadia Realty Trust has a 52-week low of $12.37 and a 52-week high of $17.90.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.27). The firm had revenue of $91.36 million during the quarter, compared to analyst estimates of $69.75 million. Acadia Realty Trust had a net margin of 2.38% and a return on equity of 0.39%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 earnings per share. On average, research analysts anticipate that Acadia Realty Trust will post 1.28 earnings per share for the current year.

Analyst Ratings Changes

AKR has been the topic of several research analyst reports. Bank of America raised Acadia Realty Trust from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $18.00 to $20.00 in a research note on Friday, April 5th. Truist Financial lowered Acadia Realty Trust from a “buy” rating to a “hold” rating and set a $18.00 price target on the stock. in a research report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $18.50.

Acadia Realty Trust Company Profile

Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual Core Portfolio and Fund operating platforms and its disciplined, location-driven investment strategy. Acadia Realty Trust is accomplishing this goal by building a best-in-class core real estate portfolio with meaningful concentrations of assets in the nation's most dynamic corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.