Acadia Realty Trust (NYSE:AKR) Plans Quarterly Dividend of $0.19

Acadia Realty Trust (NYSE:AKR) announced a quarterly dividend on Thursday, November 7th,RTT News reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.19 per share by the real estate investment trust on Wednesday, January 15th. This represents a $0.76 annualized dividend and a dividend yield of 3.03%.

Acadia Realty Trust has raised its dividend payment by an average of 35.4% annually over the last three years. Acadia Realty Trust has a dividend payout ratio of 194.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Acadia Realty Trust to earn $1.34 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 56.7%.

Acadia Realty Trust Price Performance

NYSE:AKR opened at $25.10 on Friday. Acadia Realty Trust has a 52-week low of $14.06 and a 52-week high of $25.58. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.67. The firm has a market cap of $3.00 billion, a P/E ratio of 278.89, a PEG ratio of 6.37 and a beta of 1.46. The business’s 50-day moving average price is $23.47 and its 200 day moving average price is $20.38.

Acadia Realty Trust (NYSE:AKR) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). The business had revenue of $87.70 million during the quarter, compared to the consensus estimate of $70.88 million. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 earnings per share. As a group, sell-side analysts predict that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AKR has been the subject of several research reports. Truist Financial raised their price objective on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their price target for the company from $23.00 to $27.00 in a research report on Thursday, October 10th. Finally, StockNews.com upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Acadia Realty Trust currently has a consensus rating of “Moderate Buy” and an average target price of $21.60.

About Acadia Realty Trust

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.