Acadia Realty Trust (NYSE:AKR) Posts Earnings Results, Misses Estimates By $0.01 EPS

Key Points

• Acadia Realty Trust reported a quarterly earnings per share (EPS) of $0.32, missing analysts' estimates of $0.33 by $0.01.
• The company declared a quarterly dividend of $0.20, resulting in an annual yield of 4.18%, with a dividend payout ratio of 500.00%.
• Truist Financial upgraded Acadia Realty Trust from a "hold" to a "buy" rating, with a price target of $23.00.

Acadia Realty Trust (NYSE:AKR - Get Free Report) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01), Zacks reports. Acadia Realty Trust had a net margin of 5.36% and a return on equity of 0.81%.

Acadia Realty Trust Price Performance

NYSE:AKR traded up $0.54 during mid-day trading on Tuesday, hitting $19.14. The company's stock had a trading volume of 1,507,094 shares, compared to its average volume of 1,212,002. Acadia Realty Trust has a fifty-two week low of $16.98 and a fifty-two week high of $26.29. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 119.64, a P/E/G ratio of 2.95 and a beta of 1.36. The stock has a fifty day moving average of $18.96 and a 200-day moving average of $20.51.

Acadia Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Monday, June 30th. Acadia Realty Trust's dividend payout ratio (DPR) is presently 500.00%.

Wall Street Analyst Weigh In

Separately, Truist Financial raised shares of Acadia Realty Trust from a "hold" rating to a "buy" rating and set a $23.00 price objective for the company in a research report on Thursday, April 10th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AKR. Millennium Management LLC grew its stake in shares of Acadia Realty Trust by 31.1% during the first quarter. Millennium Management LLC now owns 811,139 shares of the real estate investment trust's stock valued at $16,993,000 after purchasing an additional 192,267 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Acadia Realty Trust by 11.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 818,397 shares of the real estate investment trust's stock valued at $17,145,000 after acquiring an additional 82,974 shares during the last quarter. Jane Street Group LLC bought a new position in Acadia Realty Trust in the first quarter valued at approximately $1,284,000. Intech Investment Management LLC boosted its stake in Acadia Realty Trust by 51.4% in the first quarter. Intech Investment Management LLC now owns 68,549 shares of the real estate investment trust's stock valued at $1,436,000 after acquiring an additional 23,282 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in Acadia Realty Trust by 83.2% in the first quarter. Royal Bank of Canada now owns 42,246 shares of the real estate investment trust's stock valued at $885,000 after acquiring an additional 19,184 shares during the last quarter. Institutional investors and hedge funds own 97.65% of the company's stock.

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.

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