Acadia Realty Trust Declares Quarterly Dividend of $0.18 (NYSE:AKR)

Acadia Realty Trust (NYSE:AKR - Get Free Report) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Investors of record on Friday, June 28th will be paid a dividend of 0.18 per share by the real estate investment trust on Monday, July 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend is Friday, June 28th.

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 payout ratio of 300.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Acadia Realty Trust to earn $1.32 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 54.5%.

Acadia Realty Trust Price Performance

NYSE:AKR traded down $0.38 during midday trading on Friday, hitting $16.93. The company had a trading volume of 716,443 shares, compared to its average volume of 1,175,680. Acadia Realty Trust has a 52-week low of $12.37 and a 52-week high of $17.90. The company has a market capitalization of $1.75 billion, a PE ratio of 212.50, a P/E/G ratio of 11.41 and a beta of 1.41. The stock's fifty day moving average price is $16.77 and its 200-day moving average price is $16.26. The company has a quick ratio of 0.87, a current ratio of 0.90 and a debt-to-equity ratio of 0.77.

Acadia Realty Trust (NYSE:AKR - Get Free Report) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.27). The business had revenue of $91.36 million for the quarter, compared to analysts' expectations of $69.75 million. Acadia Realty Trust had a net margin of 2.38% and a return on equity of 0.39%. Acadia Realty Trust's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 earnings per share. As a group, research analysts expect that Acadia Realty Trust will post 1.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Bank of America upgraded shares of Acadia Realty Trust from a "neutral" rating to a "buy" rating and raised their target price for the stock from $18.00 to $20.00 in a report on Friday, April 5th. Truist Financial downgraded shares of Acadia Realty Trust from a "buy" rating to a "hold" rating and set a $18.00 target price for the company. in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $18.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.