Acadia Realty Trust (NYSE:AKR) Announces Quarterly Dividend of $0.19

Acadia Realty Trust (NYSE:AKR) declared a quarterly dividend on Thursday, November 7th,RTT News reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.19 per share by the real estate investment trust on Wednesday, January 15th. This represents a $0.76 dividend on an annualized basis and a yield of 3.03%.

Acadia Realty Trust has increased its dividend by an average of 35.4% per year over the last three years. Acadia Realty Trust has a dividend payout ratio of 194.9% indicating that 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 $1.34 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 56.7%.

Acadia Realty Trust Stock Up 0.1 %

AKR stock opened at $25.10 on Friday. The company has a 50 day moving average of $23.47 and a two-hundred day moving average of $20.38. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 278.89, a PEG ratio of 6.37 and a beta of 1.46. Acadia Realty Trust has a 12-month low of $14.06 and a 12-month high of $25.58. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.67.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). The company had revenue of $87.70 million during the quarter, compared to analyst estimates of $70.88 million. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $0.27 earnings per share. On average, equities analysts anticipate that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Truist Financial raised their price target on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. StockNews.com upgraded shares of Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, Compass Point upgraded shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their price target for the stock from $23.00 to $27.00 in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $21.60.

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.