Acadia Realty Trust (AKR) To Go Ex-Dividend on December 31st

Acadia Realty Trust (NYSE:AKR) announced 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 yield of 3.04%. The ex-dividend date of this dividend is Tuesday, December 31st.

Acadia Realty Trust has increased its dividend by an average of 35.4% per year over the last three years. Acadia Realty Trust has a payout ratio of 194.9% meaning 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 $1.34 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 Down 0.4 %

Shares of AKR opened at $25.00 on Friday. The company’s 50-day simple moving average is $23.52 and its 200-day simple moving average is $20.44. The stock has a market capitalization of $2.99 billion, a PE ratio of 277.78, a P/E/G ratio of 6.34 and a beta of 1.46. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.14 and a current ratio of 1.14. Acadia Realty Trust has a 1 year low of $14.06 and a 1 year high of $25.58.

Acadia Realty Trust (NYSE:AKR) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.25). The business had revenue of $87.70 million for the quarter, compared to analysts’ expectations of $70.88 million. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. Acadia Realty Trust’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 EPS. Analysts forecast that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

AKR has been the subject of a number of research reports. Compass Point raised shares of Acadia Realty Trust from a “neutral” rating to a “buy” rating and upped their target price for the company from $23.00 to $27.00 in a report on Thursday, October 10th. 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. Finally, StockNews.com lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.