Acadia Realty Trust (NYSE:AKR) Releases Quarterly 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) issued its quarterly earnings data on Tuesday. The real estate investment trust reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01), Zacks reports. Acadia Realty Trust had a return on equity of 0.79% and a net margin of 5.31%. The business had revenue of $98.30 million for the quarter, compared to analysts' expectations of $81.89 million. During the same period last year, the business earned $0.31 earnings per share. The company's revenue for the quarter was up 15.3% on a year-over-year basis. Acadia Realty Trust updated its FY 2025 guidance to 1.320-1.390 EPS.

Acadia Realty Trust Trading Down 1.1%

AKR traded down $0.21 during trading on Friday, hitting $18.51. The company's stock had a trading volume of 2,758,336 shares, compared to its average volume of 1,451,687. Acadia Realty Trust has a twelve month low of $16.98 and a twelve month high of $26.29. The stock has a market cap of $2.42 billion, a PE ratio of 115.69, a PEG ratio of 2.94 and a beta of 1.41. The firm's 50 day moving average price is $18.92 and its 200-day moving average price is $20.44. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.97.

Acadia Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Monday, June 30th. Acadia Realty Trust's payout ratio is presently 500.00%.

Institutional Investors Weigh In On Acadia Realty Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake in Acadia Realty Trust by 83.2% in the 1st quarter. Royal Bank of Canada now owns 42,246 shares of the real estate investment trust's stock worth $885,000 after buying an additional 19,184 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Acadia Realty Trust during the 1st quarter worth about $1,284,000. Intech Investment Management LLC boosted its position in shares of 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 worth $1,436,000 after acquiring an additional 23,282 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Acadia Realty Trust by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,734 shares of the real estate investment trust's stock valued at $1,461,000 after purchasing an additional 3,045 shares during the period. Finally, Millennium Management LLC increased its position in 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 worth $16,993,000 after purchasing an additional 192,267 shares during the last quarter. Hedge funds and other institutional investors own 97.65% of the company's stock.

Analyst Ratings Changes

AKR has been the topic of a number of analyst reports. Wall Street Zen cut Acadia Realty Trust from a "hold" rating to a "sell" rating in a report on Saturday. Truist Financial raised Acadia Realty Trust from a "hold" rating to a "buy" rating and set a $23.00 price objective on the stock in a research note on Thursday, April 10th.

Acadia Realty Trust Company Profile

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.