Acadia Realty Trust (NYSE:AKR) Releases FY24 Earnings Guidance

Acadia Realty Trust (NYSE:AKR) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $1.24-1.32 for the period, compared to the consensus estimate of $1.28.

Acadia Realty Trust Stock Up 1.6 %

Shares of NYSE AKR traded up $0.28 during trading hours on Monday, hitting $17.60. The company had a trading volume of 834,742 shares, compared to its average volume of 1,187,287. The firm’s 50 day moving average is $16.72 and its 200-day moving average is $16.20. Acadia Realty Trust has a 1-year low of $12.37 and a 1-year high of $17.73. The stock has a market capitalization of $1.81 billion, a P/E ratio of 91.16, a price-to-earnings-growth ratio of 11.56 and a beta of 1.44. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.90.

Acadia Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Wednesday, March 27th. Acadia Realty Trust’s payout ratio is 378.97%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Truist Financial downgraded Acadia Realty Trust from a buy rating to a hold rating and set a $18.00 price objective for the company. in a research note on Tuesday, January 16th. Bank of America upgraded Acadia Realty Trust from a neutral rating to a buy rating and raised their price target for the stock from $18.00 to $20.00 in a research report on Friday, April 5th. Finally, Jefferies Financial Group upgraded Acadia Realty Trust from a hold rating to a buy rating and raised their target price for the company from $15.00 to $20.00 in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Acadia Realty Trust presently has an average rating of Hold and an average price target 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.