Zacks: Brokerages Expect Acadia Realty Trust (NYSE:AKR) Will Post Earnings of $0.30 Per Share

Brokerages expect Acadia Realty Trust (NYSE:AKRGet Rating) to post earnings of $0.30 per share for the current quarter, Zacks reports. Two analysts have provided estimates for Acadia Realty Trust’s earnings. The highest EPS estimate is $0.32 and the lowest is $0.28. Acadia Realty Trust also reported earnings per share of $0.30 in the same quarter last year. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Acadia Realty Trust will report full year earnings of $1.24 per share for the current financial year, with EPS estimates ranging from $1.22 to $1.26. For the next fiscal year, analysts forecast that the business will post earnings of $1.33 per share, with EPS estimates ranging from $1.28 to $1.36. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Acadia Realty Trust.

Acadia Realty Trust (NYSE:AKRGet Rating) last posted its earnings results on Monday, May 2nd. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.11). Acadia Realty Trust had a return on equity of 1.48% and a net margin of 11.45%. During the same quarter last year, the business earned $0.25 earnings per share.

AKR has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Acadia Realty Trust in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research downgraded shares of Acadia Realty Trust from a “buy” rating to a “hold” rating in a research report on Friday, April 15th.

Shares of AKR stock traded down $0.34 during trading hours on Friday, hitting $20.12. 10,574 shares of the company were exchanged, compared to its average volume of 662,347. The business has a 50 day moving average of $21.08 and a two-hundred day moving average of $21.24. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.76. Acadia Realty Trust has a 52 week low of $18.57 and a 52 week high of $23.33. The company has a market capitalization of $1.91 billion, a PE ratio of 53.84, a PEG ratio of 2.37 and a beta of 1.32.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Wednesday, June 29th. Acadia Realty Trust’s dividend payout ratio is presently 189.48%.

In other Acadia Realty Trust news, Director Wendy W. Luscombe sold 1,500 shares of Acadia Realty Trust stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $21.18, for a total value of $31,770.00. Following the completion of the sale, the director now owns 33,399 shares in the company, valued at approximately $707,390.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.75% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in AKR. Cohen & Steers Inc. grew its holdings in shares of Acadia Realty Trust by 69.1% during the 1st quarter. Cohen & Steers Inc. now owns 11,640,773 shares of the real estate investment trust’s stock valued at $252,256,000 after purchasing an additional 4,758,579 shares during the last quarter. Norges Bank acquired a new position in shares of Acadia Realty Trust in the 4th quarter worth approximately $18,662,000. State Street Corp lifted its position in shares of Acadia Realty Trust by 12.3% in the 1st quarter. State Street Corp now owns 5,525,753 shares of the real estate investment trust’s stock worth $120,714,000 after purchasing an additional 606,843 shares during the period. GRS Advisors LLC acquired a new position in shares of Acadia Realty Trust in the 1st quarter worth approximately $12,441,000. Finally, Citadel Advisors LLC lifted its position in shares of Acadia Realty Trust by 387.9% in the 4th quarter. Citadel Advisors LLC now owns 570,182 shares of the real estate investment trust’s stock worth $12,447,000 after purchasing an additional 453,318 shares during the period. 98.23% of the stock is currently owned by hedge funds and other institutional investors.

About Acadia Realty Trust (Get Rating)

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.

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Earnings History and Estimates for Acadia Realty Trust (NYSE:AKR)

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