Acadia Realty Trust (AKR) to Issue Quarterly Dividend of $0.20 on April 15th

Acadia Realty Trust (NYSE:AKR) announced a quarterly dividend on Tuesday, February 11th, Wall Street Journal reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.20 per share by the real estate investment trust on Tuesday, April 15th. This represents a $0.80 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Monday, March 31st. This is a 5.3% increase from Acadia Realty Trust’s previous quarterly dividend of $0.19.

Acadia Realty Trust has raised its dividend payment by an average of 7.2% annually over the last three years. Acadia Realty Trust has a payout ratio of 195.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Acadia Realty Trust to earn $1.44 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 55.6%.

Acadia Realty Trust Price Performance

AKR opened at $21.00 on Friday. Acadia Realty Trust has a 52-week low of $16.14 and a 52-week high of $26.29. The company has a market cap of $2.51 billion, a P/E ratio of 116.68, a P/E/G ratio of 6.09 and a beta of 1.49. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average of $22.64 and a two-hundred day moving average of $23.57.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a net margin of 5.74% and a return on equity of 0.88%. On average, analysts expect that Acadia Realty Trust will post 1.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on AKR shares. Truist Financial increased their price objective on shares of Acadia Realty Trust from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. StockNews.com lowered Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Acadia Realty Trust presently has a consensus rating of “Hold” and an average price target of $23.00.

Insiders Place Their Bets

In other Acadia Realty Trust news, EVP Jason Blacksberg sold 30,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $22.81, for a total value of $684,300.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.83% of the stock is 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.