Analysts expect Acadia Realty Trust (NYSE:AKR) to post sales of $49.36 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Acadia Realty Trust’s earnings, with the highest sales estimate coming in at $50.58 million and the lowest estimate coming in at $48.14 million. Acadia Realty Trust posted sales of $51.10 million during the same quarter last year, which suggests a negative year over year growth rate of 3.4%. The company is expected to announce its next earnings results after the market closes on Thursday, November 2nd.
On average, analysts expect that Acadia Realty Trust will report full-year sales of $49.36 million for the current year, with estimates ranging from $198.88 million to $199.63 million. For the next fiscal year, analysts expect that the firm will post sales of $204.67 million per share, with estimates ranging from $196.74 million to $212.60 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Acadia Realty Trust.
A number of research firms have recently weighed in on AKR. Zacks Investment Research upgraded shares of Acadia Realty Trust from a “strong sell” rating to a “hold” rating in a report on Friday, July 28th. Boenning Scattergood set a $35.00 target price on shares of Acadia Realty Trust and gave the stock a “buy” rating in a report on Thursday, July 27th. Finally, BidaskClub upgraded shares of Acadia Realty Trust from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $33.50.
Institutional investors and hedge funds have recently modified their holdings of the business. Riverhead Capital Management LLC lifted its holdings in Acadia Realty Trust by 135.5% in the second quarter. Riverhead Capital Management LLC now owns 5,416 shares of the real estate investment trust’s stock worth $150,000 after buying an additional 3,116 shares during the period. Royal Bank of Canada lifted its holdings in Acadia Realty Trust by 72.2% in the second quarter. Royal Bank of Canada now owns 6,620 shares of the real estate investment trust’s stock worth $184,000 after buying an additional 2,775 shares during the period. GAM Holding AG lifted its holdings in Acadia Realty Trust by 5.5% in the second quarter. GAM Holding AG now owns 6,880 shares of the real estate investment trust’s stock worth $191,000 after buying an additional 356 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in Acadia Realty Trust by 6.8% in the second quarter. Ameritas Investment Partners Inc. now owns 7,376 shares of the real estate investment trust’s stock worth $205,000 after buying an additional 472 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in Acadia Realty Trust by 14.8% in the second quarter. Daiwa Securities Group Inc. now owns 7,741 shares of the real estate investment trust’s stock worth $215,000 after buying an additional 1,000 shares during the period.
Shares of Acadia Realty Trust (NYSE:AKR) traded down 0.67% on Friday, hitting $28.36. The stock had a trading volume of 278,339 shares. The firm has a 50 day moving average of $29.45 and a 200-day moving average of $28.89. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 43.90 and a beta of 0.60. Acadia Realty Trust has a 1-year low of $26.70 and a 1-year high of $34.30.
The company also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.67%. Acadia Realty Trust’s dividend payout ratio is currently 162.50%.
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About Acadia Realty Trust
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, development and management of retail properties located in the United States. It operates through three segments: Core Portfolio, Funds and Structured Financing. Core Portfolio and Fund properties primarily consist of street and urban retail, and dense suburban shopping centers.
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