Acadia Realty Trust (NYSE:AKR – Get Free Report) announced a quarterly dividend on Wednesday, November 4th. Stockholders of record on Thursday, December 31st will be given 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 payment by an average of 0.2% per year over the last three years and has raised its dividend every year for the last 2 years. Acadia Realty Trust has a payout ratio of 222.2% meaning 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 $1.31 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 Trading Up 3.9%
AKR stock opened at $19.90 on Thursday. Acadia Realty Trust has a twelve month low of $17.96 and a twelve month high of $23.03. The stock has a market capitalization 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. The firm’s fifty day simple moving average is $19.23 and its two-hundred day simple moving average is $20.59. 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 (NYSE:AKR – Get Free Report) last announced its earnings results on Monday, November 2nd. The real estate investment trust reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.34). The business had revenue of $94.98 million for the quarter, compared to analysts’ expectations of $94.38 million. Acadia Realty Trust had a return on equity of 1.54% and a net margin of 10.23%. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 earnings per share. As a group, analysts anticipate that Acadia Realty Trust will post 1.25 earnings per share for the current year.
Wall Street Analysts Forecast Growth
AKR has been the topic of a number of research analyst reports. KeyCorp reissued an “overweight” rating on shares of Acadia Realty Trust in a research report on Wednesday, September 23rd. Weiss Ratings cut shares of Acadia Realty Trust from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Citigroup raised their price objective on shares of Acadia Realty Trust from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Truist Financial began coverage on shares of Acadia Realty Trust in a research note on Thursday, October 1st. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, Wall Street Zen cut Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.80.
View Our Latest Stock Analysis on AKR
About Acadia Realty Trust
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.
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