Acadia Realty Trust (NYSE:AKR) Updates FY19 Earnings Guidance

Acadia Realty Trust (NYSE:AKR) updated its FY19 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.40-1.42 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.42. Acadia Realty Trust also updated its FY 2019 guidance to $1.40-1.42 EPS.

AKR traded down $0.57 during mid-day trading on Thursday, hitting $28.60. The stock had a trading volume of 1,109,500 shares, compared to its average volume of 458,180. The stock’s fifty day simple moving average is $28.64 and its 200-day simple moving average is $28.06. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 3.70 and a beta of 0.69. Acadia Realty Trust has a 1-year low of $23.11 and a 1-year high of $29.82.

Acadia Realty Trust (NYSE:AKR) last posted its earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.21). The firm had revenue of $72.19 million during the quarter, compared to analyst estimates of $61.66 million. Acadia Realty Trust had a return on equity of 1.78% and a net margin of 13.32%. The company’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same quarter last year, the business posted $0.35 earnings per share. As a group, research analysts expect that Acadia Realty Trust will post 1.42 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.28 dividend. The ex-dividend date was Friday, September 27th. This represents a $1.12 annualized dividend and a yield of 3.92%. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 82.96%.

AKR has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Acadia Realty Trust from a hold rating to a buy rating and set a $32.00 price objective on the stock in a report on Tuesday, September 24th. Compass Point initiated coverage on shares of Acadia Realty Trust in a report on Thursday, August 15th. They set a buy rating and a $30.00 price objective on the 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 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 urban and street-retail 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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