Acadia Realty Trust (NYSE:AKR) declared a quarterly dividend on Wednesday, August 9th, RTT News reports. Shareholders of record on Friday, September 29th will be given a dividend of 0.26 per share by the real estate investment trust on Friday, October 13th. This represents a $1.04 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Thursday, September 28th.

Acadia Realty Trust has increased its dividend payment by an average of 7.3% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Acadia Realty Trust has a payout ratio of 69.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Acadia Realty Trust to earn $1.55 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 67.1%.

Acadia Realty Trust (AKR) opened at 28.76 on Friday. The firm’s 50-day moving average is $29.21 and its 200-day moving average is $29.03. The company has a market capitalization of $2.41 billion, a PE ratio of 44.52 and a beta of 0.59. Acadia Realty Trust has a 52-week low of $26.70 and a 52-week high of $37.54.

Acadia Realty Trust (NYSE:AKR) last announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.29. Acadia Realty Trust had a return on equity of 2.50% and a net margin of 23.63%. The firm had revenue of $59.50 million during the quarter, compared to analyst estimates of $53.72 million. During the same period last year, the firm posted $0.37 EPS. The business’s revenue was up 35.2% compared to the same quarter last year. On average, equities research analysts forecast that Acadia Realty Trust will post $0.46 EPS for the current year.

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Several brokerages have recently issued reports on AKR. Zacks Investment Research raised Acadia Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Friday, July 28th. BidaskClub raised Acadia Realty Trust from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Boenning Scattergood set a $35.00 price objective on Acadia Realty Trust and gave the stock a “buy” rating in a report on Thursday, July 27th. KeyCorp decreased their price objective on Acadia Realty Trust from $37.00 to $33.00 and set an “overweight” rating for the company in a report on Wednesday, June 28th. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $30.00 price objective (down previously from $35.00) on shares of Acadia Realty Trust in a report on Tuesday, June 6th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $34.60.

About Acadia Realty Trust

Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, development and management of retail properties located in the United States. It operates through three segments: Core Portfolio, Funds and Structured Financing. Core Portfolio and Fund properties primarily consist of street and urban retail, and dense suburban shopping centers.

Dividend History for Acadia Realty Trust (NYSE:AKR)

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