Equities analysts predict that Acadia Realty Trust (NYSE:AKR) will announce sales of $47.47 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Acadia Realty Trust’s earnings, with the lowest sales estimate coming in at $46.53 million and the highest estimate coming in at $48.40 million. Acadia Realty Trust posted sales of $59.50 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 20.2%. The company is expected to announce its next quarterly earnings results on Tuesday, July 24th.
According to Zacks, analysts expect that Acadia Realty Trust will report full year sales of $190.65 million for the current financial year, with estimates ranging from $189.58 million to $191.71 million. For the next financial year, analysts expect that the company will post sales of $194.02 million per share, with estimates ranging from $190.63 million to $197.40 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Acadia Realty Trust.
Acadia Realty Trust (NYSE:AKR) last released its earnings results on Tuesday, May 1st. The real estate investment trust reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). Acadia Realty Trust had a return on equity of 2.44% and a net margin of 21.17%. The business had revenue of $63.12 million during the quarter, compared to analysts’ expectations of $47.54 million. During the same quarter in the previous year, the business earned $0.40 EPS. The business’s revenue for the quarter was up 1.8% on a year-over-year basis.
A number of analysts have weighed in on AKR shares. Zacks Investment Research upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, May 4th. Boenning Scattergood reiterated a “buy” rating on shares of Acadia Realty Trust in a research note on Friday, February 23rd. Citigroup dropped their price target on Acadia Realty Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Finally, ValuEngine downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Thursday, April 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $32.25.
AKR stock traded up $0.15 during midday trading on Monday, reaching $24.31. The company’s stock had a trading volume of 12,741 shares, compared to its average volume of 785,262. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.42. Acadia Realty Trust has a 1 year low of $24.23 and a 1 year high of $24.42. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 2.50 and a beta of 0.41.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 13th. Investors 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 yield of 4.44%. The ex-dividend date of this dividend was Wednesday, March 28th. Acadia Realty Trust’s payout ratio is currently 71.52%.
Acadia Realty Trust announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 21st that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
In other Acadia Realty Trust news, insider Joseph Napolitano sold 14,626 shares of the firm’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $25.26, for a total value of $369,452.76. Following the completion of the sale, the insider now owns 14,744 shares of the company’s stock, valued at $372,433.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.15% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Acadia Realty Trust by 1.2% during the first quarter. BlackRock Inc. now owns 13,253,257 shares of the real estate investment trust’s stock valued at $326,030,000 after acquiring an additional 156,211 shares in the last quarter. Northern Trust Corp raised its position in Acadia Realty Trust by 3.0% during the first quarter. Northern Trust Corp now owns 2,225,027 shares of the real estate investment trust’s stock valued at $54,736,000 after acquiring an additional 64,494 shares in the last quarter. Teachers Insurance & Annuity Association of America raised its position in Acadia Realty Trust by 18.6% during the first quarter. Teachers Insurance & Annuity Association of America now owns 107,681 shares of the real estate investment trust’s stock valued at $2,649,000 after acquiring an additional 16,912 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Acadia Realty Trust by 16.3% during the first quarter. Thrivent Financial for Lutherans now owns 117,178 shares of the real estate investment trust’s stock valued at $2,883,000 after acquiring an additional 16,405 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Acadia Realty Trust by 6.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,045,962 shares of the real estate investment trust’s stock valued at $25,731,000 after acquiring an additional 59,678 shares in the last quarter.
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 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 urban and street-retail corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.
Get a free copy of the Zacks research report on Acadia Realty Trust (AKR)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Acadia Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acadia Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.