Acadia Realty Trust (NYSE:AKR) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.34-1.46 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.41.
NYSE AKR traded up $0.30 during trading hours on Wednesday, hitting $28.50. The company’s stock had a trading volume of 548,686 shares, compared to its average volume of 493,119. Acadia Realty Trust has a 12 month low of $22.27 and a 12 month high of $29.82. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 3.35 and a beta of 0.72. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.96 and a current ratio of 0.96.
Acadia Realty Trust (NYSE:AKR) last released its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $0.39 EPS for the quarter, topping the consensus estimate of $0.37 by $0.02. Acadia Realty Trust had a return on equity of 1.48% and a net margin of 11.95%. The company had revenue of $74.80 million during the quarter, compared to the consensus estimate of $51.36 million. During the same period last year, the company earned $0.33 EPS. Acadia Realty Trust’s revenue for the quarter was up 18.5% on a year-over-year basis. On average, equities analysts predict that Acadia Realty Trust will post 1.41 earnings per share for the current fiscal year.
AKR has been the subject of several research analyst reports. ValuEngine downgraded Acadia Realty Trust from a buy rating to a hold rating in a report on Tuesday, December 25th. Zacks Investment Research downgraded Acadia Realty Trust from a hold rating to a sell rating in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $31.33.
In other Acadia Realty Trust news, insider Christopher Conlon sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $28.06, for a total value of $280,600.00. Following the transaction, the insider now directly owns 15,000 shares of the company’s stock, valued at $420,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jason Blacksberg sold 2,096 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $29.50, for a total value of $61,832.00. The disclosure for this sale can be found here. Insiders sold a total of 17,096 shares of company stock valued at $481,982 over the last quarter. 2.47% of the stock is owned by corporate insiders.
About Acadia Realty Trust
Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual – Core 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 urban and street-retail corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.
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