Acadia Realty Trust (NYSE:AKR) Shares Set to Pay Quarterly Dividend of $0.20

Acadia Realty Trust (NYSE:AKR) declared a quarterly dividend on Wednesday, November 4th. Stockholders of record on Thursday, December 31st will be paid a dividend of $0.20 per share by the real estate investment trust on Friday, January 15th. This represents a $0.80 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Thursday, December 31st.

Acadia Realty Trust has increased its dividend by an average of 0.2% per year over the last three years and has increased its dividend every year for the last 2 years. Acadia Realty Trust has a dividend payout ratio of 222.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Acadia Realty Trust to earn $1.31 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 61.1%.

Acadia Realty Trust Stock Performance

Shares of AKR opened at $19.90 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.23 and a debt-to-equity ratio of 0.68. Acadia Realty Trust has a 12 month low of $17.96 and a 12 month high of $23.03. The company’s fifty day moving average is $19.23 and its 200-day moving average is $20.59. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 71.06, a price-to-earnings-growth ratio of 2.09 and a beta of 1.11.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings data on Monday, November 2nd. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.34). Acadia Realty Trust had a return on equity of 1.54% and a net margin of 10.23%. The business had revenue of $94.98 million during the quarter, compared to the consensus estimate of $94.38 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. Equities analysts expect that Acadia Realty Trust will post 1.25 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on AKR shares. KeyCorp reissued an “overweight” rating on shares of Acadia Realty Trust in a report on Wednesday, September 23rd. Wall Street Zen downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Citigroup boosted their price objective on shares of Acadia Realty Trust from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Weiss Ratings cut shares of Acadia Realty Trust from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Finally, Truist Financial started coverage on shares of Acadia Realty Trust in a report on Thursday, October 1st. They set a “buy” rating and a $22.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Acadia Realty Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.80.

Acadia Realty Trust Company Profile

Acadia Realty Trust (NYSE: AKR) is a real estate investment trust that owns, operates, acquires, and develops retail properties in the United States. Its portfolio includes grocery-anchored shopping centers, neighborhood and community retail centers, urban street retail properties, and mixed-use assets.

The company focuses on retail locations in densely populated and high-barrier-to-entry markets, serving tenants that include national retailers, restaurants, service providers, and other consumer-oriented businesses.