Acadia Realty Trust (NYSE:AKR) Shareholders to Collect $0.20 Quarterly Dividend

Key Points

• Acadia Realty Trust declared a $0.20 quarterly dividend, payable January 15 to shareholders of record December 31. That equates to $0.80 annually and a 4.0% yield.
• The dividend currently exceeds earnings, with a 222.2% payout ratio, so the company is relying on its balance sheet. Analysts’ forecast earnings imply a lower 61.1% payout ratio next year.
• Acadia reported a quarterly loss of $0.03 per share, missing the $0.31 consensus estimate; revenue of $94.98 million slightly beat estimates but fell 6% year over year. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $23.80.

Acadia Realty Trust (NYSE:AKR - Get Free Report) declared a quarterly dividend on Wednesday, November 4th. Investors 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 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Thursday, December 31st.

Acadia Realty Trust has increased its dividend payment by an average of 0.2% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Acadia Realty Trust has a dividend 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. 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%

NYSE:AKR opened at $19.90 on Thursday. The stock has a fifty day simple moving average of $19.23 and a 200 day simple moving average of $20.59. The firm 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. Acadia Realty Trust has a 1-year low of $17.96 and a 1-year high of $23.03. 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 posted its quarterly earnings data on Monday, November 2nd. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.34). Acadia Realty Trust had a return on equity of 1.54% and a net margin of 10.23%. The company had revenue of $94.98 million for the quarter, compared to analyst estimates of $94.38 million. During the same quarter in the previous year, the firm posted $0.03 EPS. Acadia Realty Trust's quarterly revenue was down 6.0% on a year-over-year basis. Sell-side analysts forecast that Acadia Realty Trust will post 1.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AKR. Citigroup lifted their target price on shares of Acadia Realty Trust from $24.00 to $26.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Truist Financial assumed coverage on shares of Acadia Realty Trust in a report on Thursday, October 1st. They set a "buy" rating and a $22.00 price target on the stock. Wall Street Zen downgraded shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday, October 31st. Weiss Ratings lowered shares of Acadia Realty Trust from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday. Finally, KeyCorp reiterated an "overweight" rating on shares of Acadia Realty Trust in a research report on Wednesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $23.80.

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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