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

Acadia Realty Trust (NYSE:AKR) updated its FY 2024 earnings guidance on Tuesday. 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.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. upgraded Acadia Realty Trust from an underweight rating to a neutral rating and set a $18.00 price objective for the company in a research note on Wednesday, June 26th. Bank of America upgraded shares of Acadia Realty Trust from a neutral rating to a buy rating and upped their price target for the stock from $18.00 to $20.00 in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $18.40.

Acadia Realty Trust Price Performance

AKR traded up $0.74 during trading on Tuesday, hitting $21.31. 1,241,361 shares of the company traded hands, compared to its average volume of 1,023,606. The company has a market cap of $2.20 billion, a PE ratio of 266.38, a P/E/G ratio of 5.38 and a beta of 1.46. Acadia Realty Trust has a 1 year low of $13.24 and a 1 year high of $21.34. 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’s 50-day simple moving average is $18.13 and its two-hundred day simple moving average is $17.32.

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

Acadia Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Friday, June 28th. Acadia Realty Trust’s payout ratio is presently 900.00%.

Insider Buying and Selling at Acadia Realty Trust

In other Acadia Realty Trust news, VP Richard Hartmann sold 25,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO John J. Gottfried sold 12,500 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $16.89, for a total value of $211,125.00. Following the completion of the sale, the chief financial officer now owns 7,600 shares in the company, valued at approximately $128,364. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Richard Hartmann sold 25,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $17.10, for a total transaction of $427,500.00. The disclosure for this sale can be found here. 2.83% of the stock is owned by corporate insiders.

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.