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

Acadia Realty Trust (NYSE:AKR) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 1.240-1.320 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 $1.24-1.32 EPS.

Acadia Realty Trust Stock Down 1.5 %

NYSE:AKR traded down $0.27 on Tuesday, hitting $17.33. 471,455 shares of the company’s stock traded hands, compared to its average volume of 1,179,021. The company has a market cap of $1.78 billion, a PE ratio of 92.66, a price-to-earnings-growth ratio of 11.56 and a beta of 1.44. Acadia Realty Trust has a 1 year low of $12.37 and a 1 year high of $17.90. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.90. The firm has a 50-day moving average price of $16.73 and a 200-day moving average price of $16.23.

Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings data on Monday, April 29th. The real estate investment trust reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.27). Acadia Realty Trust had a net margin of 5.72% and a return on equity of 0.91%. The company had revenue of $91.36 million for the quarter, compared to analysts’ expectations of $69.75 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts anticipate that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.72 annualized dividend and a dividend yield of 4.15%. Acadia Realty Trust’s dividend payout ratio is 378.97%.

Analyst Ratings Changes

Several research analysts have weighed in on AKR shares. Jefferies Financial Group raised Acadia Realty Trust from a hold rating to a buy rating and upped their target price for the stock from $15.00 to $20.00 in a research report on Tuesday, January 2nd. Bank of America upgraded Acadia Realty Trust from a neutral rating to a buy rating and increased their price objective for the stock from $18.00 to $20.00 in a report on Friday, April 5th. Finally, Truist Financial cut shares of Acadia Realty Trust from a buy rating to a hold rating and set a $18.00 target price for the company. in a research note on Tuesday, January 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Acadia Realty Trust has an average rating of Hold and a consensus price target of $18.50.

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.