Acadia Realty Trust (NYSE:AKR) Issues FY 2024 Earnings Guidance

Acadia Realty Trust (NYSE:AKR) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 1.260-1.320 for the period, compared to the consensus EPS estimate of 1.280. The company issued revenue guidance of -. Acadia Realty Trust also updated its FY24 guidance to $1.26-1.32 EPS.

Analysts Set New Price Targets

Several equities analysts have commented on AKR shares. StockNews.com raised shares of Acadia Realty Trust from a sell rating to a hold rating in a research note on Thursday. JPMorgan Chase & Co. upgraded shares of Acadia Realty Trust from an underweight rating to a neutral rating and set a $18.00 price objective on the stock in a research note on Wednesday, June 26th. Finally, Bank of America upgraded Acadia Realty Trust from a neutral rating to a buy rating and upped their target price for the stock from $18.00 to $20.00 in a research report on Friday, April 5th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $18.40.

Acadia Realty Trust Price Performance

AKR stock traded down $0.19 on Friday, hitting $21.47. 1,739,070 shares of the company’s stock traded hands, compared to its average volume of 1,040,234. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 270.75, a P/E/G ratio of 5.70 and a beta of 1.46. Acadia Realty Trust has a 1-year low of $13.24 and a 1-year high of $22.51. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.77. The stock has a fifty day moving average of $18.33 and a 200-day moving average of $17.38.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.30). The company had revenue of $87.25 million for the quarter, compared to analyst estimates of $70.16 million. Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. Acadia Realty Trust’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the company posted $0.36 EPS. On average, analysts forecast that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.19 dividend. This is a positive change from Acadia Realty Trust’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.54%. Acadia Realty Trust’s dividend payout ratio (DPR) is 900.00%.

About Acadia Realty Trust

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.