Acadia Realty Trust (AKR) Updates FY19 Earnings Guidance

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.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $0.28 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.12 annualized dividend and a yield of 3.93%. Acadia Realty Trust’s payout ratio is 82.96%.

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.

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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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