FY2018 EPS Estimates for Acadia Realty Trust (NYSE:AKR) Cut by Analyst

Acadia Realty Trust (NYSE:AKR) – Equities research analysts at KeyCorp cut their FY2018 earnings per share (EPS) estimates for Acadia Realty Trust in a research note issued on Thursday. KeyCorp analyst T. Thomas now expects that the real estate investment trust will earn $1.60 per share for the year, down from their previous estimate of $1.63. KeyCorp has a “Overweight” rating and a $33.00 price target on the stock.

Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.29. Acadia Realty Trust had a return on equity of 2.50% and a net margin of 23.63%. The company had revenue of $59.50 million for the quarter, compared to the consensus estimate of $53.72 million. During the same quarter last year, the business posted $0.37 EPS. Acadia Realty Trust’s revenue for the quarter was up 35.2% on a year-over-year basis.

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A number of other research analysts have also recently commented on AKR. Boenning Scattergood set a $35.00 target price on Acadia Realty Trust and gave the company a “buy” rating in a research note on Thursday, July 27th. Zacks Investment Research raised Acadia Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Friday, July 28th. BidaskClub raised Acadia Realty Trust from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Citigroup Inc. reissued a “neutral” rating and issued a $30.00 target price (down previously from $35.00) on shares of Acadia Realty Trust in a research note on Tuesday, June 6th. Finally, TheStreet cut Acadia Realty Trust from a “b-” rating to a “c” rating in a research note on Monday, April 24th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $34.60.

Acadia Realty Trust (NYSE:AKR) traded down 0.70% during midday trading on Monday, hitting $29.67. The company had a trading volume of 59,253 shares. The firm has a market capitalization of $2.48 billion, a P/E ratio of 45.93 and a beta of 0.59. The firm’s 50 day moving average is $28.31 and its 200-day moving average is $29.71. Acadia Realty Trust has a 52 week low of $26.70 and a 52 week high of $37.54.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Daiwa Securities Group Inc. boosted its position in shares of Acadia Realty Trust by 42.2% in the first quarter. Daiwa Securities Group Inc. now owns 6,741 shares of the real estate investment trust’s stock worth $203,000 after buying an additional 2,000 shares during the period. GAM Holding AG boosted its position in shares of 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. Princeton Alpha Management LP bought a new position in shares of Acadia Realty Trust during the first quarter worth about $225,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Acadia Realty Trust during the first quarter worth about $327,000. Finally, Jane Street Group LLC bought a new position in shares of Acadia Realty Trust during the first quarter worth about $344,000.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.48%. Acadia Realty Trust’s dividend payout ratio (DPR) is currently 162.50%.

Acadia Realty Trust Company Profile

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.

Earnings History and Estimates for Acadia Realty Trust (NYSE:AKR)

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