Acadia Realty Trust (NYSE:AKR) Releases FY 2024 Earnings Guidance

Acadia Realty Trust (NYSE:AKR) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 1.240-1.320 for the period, compared to the consensus earnings per share estimate of 1.280. The company issued revenue guidance of -. Acadia Realty Trust also updated its FY24 guidance to $1.24-1.32 EPS.

Acadia Realty Trust Stock Performance

Shares of AKR stock traded up $0.29 during mid-day trading on Monday, hitting $17.61. The stock had a trading volume of 834,792 shares, compared to its average volume of 1,187,877. The firm has a market cap of $1.81 billion, a PE ratio of 92.66, a PEG ratio of 11.56 and a beta of 1.44. The company’s 50-day simple moving average is $16.73 and its 200-day simple moving average is $16.23. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.87 and a quick ratio of 0.87. Acadia Realty Trust has a fifty-two week low of $12.37 and a fifty-two week high of $17.73.

Acadia Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.18 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.72 dividend on an annualized basis and a yield of 4.09%. Acadia Realty Trust’s payout ratio is currently 378.97%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AKR. Jefferies Financial Group raised Acadia Realty Trust from a hold rating to a buy rating and raised their price target for the company from $15.00 to $20.00 in a report on Tuesday, January 2nd. Bank of America raised Acadia Realty Trust from a neutral rating to a buy rating and raised their target price for the company from $18.00 to $20.00 in a report on Friday, April 5th. Finally, Truist Financial cut shares of Acadia Realty Trust from a buy rating to a hold rating and set a $18.00 price target on the stock. in a research note on Tuesday, January 16th. One research 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. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $18.50.

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 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.