Acadia Realty Trust (NYSE:AKR) Releases FY 2024 Earnings Guidance

Acadia Realty Trust (NYSE:AKR) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.260-1.320 for the period, compared to the consensus estimate of 1.280. The company issued revenue guidance of -. Acadia Realty Trust also updated its FY24 guidance to $1.26-1.32 EPS.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. raised Acadia Realty Trust from an underweight rating to a neutral rating and set a $18.00 price target for the company in a research report on Wednesday, June 26th. Bank of America raised Acadia Realty Trust from a neutral rating to a buy rating and increased their price target for the company from $18.00 to $20.00 in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $18.40.

Acadia Realty Trust Stock Performance

Shares of Acadia Realty Trust stock traded up $0.74 during trading hours on Tuesday, hitting $21.31. 1,241,361 shares of the company’s stock traded hands, compared to its average volume of 1,023,606. Acadia Realty Trust has a 12-month low of $13.24 and a 12-month high of $21.34. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 256.88, a PEG ratio of 5.38 and a beta of 1.46. The company has a fifty day simple moving average of $18.05 and a 200-day simple moving average of $17.29. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.90 and a quick ratio of 0.90.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.27). The business had revenue of $91.36 million for the quarter, compared to the consensus estimate of $69.75 million. Acadia Realty Trust had a net margin of 2.38% and a return on equity of 0.39%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. Equities research analysts anticipate that Acadia Realty Trust will post 1.28 EPS for the current fiscal year.

Acadia Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.38%. Acadia Realty Trust’s dividend payout ratio is 900.00%.

Insider Activity at Acadia Realty Trust

In related news, CFO John J. Gottfried sold 12,500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $16.89, for a total transaction of $211,125.00. Following the transaction, the chief financial officer now directly owns 7,600 shares of the company’s stock, valued at approximately $128,364. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Acadia Realty Trust news, VP Richard Hartmann sold 25,000 shares of Acadia Realty Trust stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $17.10, for a total value of $427,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO John J. Gottfried sold 12,500 shares of Acadia Realty Trust stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $16.89, for a total value of $211,125.00. Following the completion of the transaction, the chief financial officer now directly owns 7,600 shares in the company, valued at $128,364. The disclosure for this sale can be found here. 2.83% of the stock is currently owned by insiders.

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.