Acadia Realty Trust (NYSE:AKR) Plans $0.19 Quarterly Dividend

Acadia Realty Trust (NYSE:AKR) declared a quarterly dividend on Thursday, November 7th,RTT News reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.19 per share by the real estate investment trust on Wednesday, January 15th. This represents a $0.76 annualized dividend and a dividend yield of 3.03%.

Acadia Realty Trust has raised its dividend payment by an average of 35.4% per year over the last three years. Acadia Realty Trust has a dividend payout ratio of 194.9% 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 analysts expect Acadia Realty Trust to earn $1.34 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 56.7%.

Acadia Realty Trust Stock Up 0.1 %

Shares of AKR traded up $0.02 on Thursday, hitting $25.10. The company’s stock had a trading volume of 1,558,576 shares, compared to its average volume of 1,000,458. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.67. The firm’s fifty day moving average price is $23.41 and its 200-day moving average price is $20.35. Acadia Realty Trust has a fifty-two week low of $14.06 and a fifty-two week high of $25.58. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 278.44, a P/E/G ratio of 6.37 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25). Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. The firm had revenue of $87.70 million for the quarter, compared to analyst estimates of $70.88 million. During the same period last year, the company earned $0.27 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts expect that Acadia Realty Trust will post 1.28 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and increased their price target for the company from $23.00 to $27.00 in a research note on Thursday, October 10th. StockNews.com upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, Truist Financial increased their price objective on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.60.

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.