Acadia Realty Trust (NYSE:AKR) – KeyCorp issued their FY2020 earnings per share estimates for shares of Acadia Realty Trust in a research note issued to investors on Thursday, April 11th, Zacks Investment Research reports. KeyCorp analyst T. Thomas expects that the real estate investment trust will post earnings of $1.47 per share for the year.
Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.22). The company had revenue of $74.80 million during the quarter, compared to analyst estimates of $51.36 million. Acadia Realty Trust had a return on equity of 1.71% and a net margin of 13.17%. The business’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 EPS.
AKR stock traded down $0.01 during trading on Monday, hitting $28.19. The company had a trading volume of 278,847 shares, compared to its average volume of 506,926. The company has a market capitalization of $2.39 billion, a P/E ratio of 20.88, a PEG ratio of 3.45 and a beta of 0.73. Acadia Realty Trust has a fifty-two week low of $23.11 and a fifty-two week high of $29.82. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76.
A number of hedge funds and other institutional investors have recently modified their holdings of AKR. Norges Bank acquired a new stake in Acadia Realty Trust in the 4th quarter valued at about $24,002,000. Oregon Public Employees Retirement Fund acquired a new stake in Acadia Realty Trust during the 4th quarter worth about $31,000. BlackRock Inc. raised its holdings in Acadia Realty Trust by 1.8% during the 4th quarter. BlackRock Inc. now owns 14,350,231 shares of the real estate investment trust’s stock worth $340,961,000 after buying an additional 250,849 shares during the period. D. E. Shaw & Co. Inc. acquired a new stake in Acadia Realty Trust during the 4th quarter worth about $3,311,000. Finally, Phocas Financial Corp. raised its holdings in Acadia Realty Trust by 32.2% during the 3rd quarter. Phocas Financial Corp. now owns 517,832 shares of the real estate investment trust’s stock worth $14,515,000 after buying an additional 126,066 shares during the period.
In other Acadia Realty Trust news, insider Christopher Conlon sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $28.06, for a total value of $280,600.00. Following the completion of the sale, the insider now directly owns 15,000 shares of the company’s stock, valued at approximately $420,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jason Blacksberg sold 4,000 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $28.50, for a total transaction of $114,000.00. Following the completion of the sale, the vice president now directly owns 4,000 shares of the company’s stock, valued at $114,000. The disclosure for this sale can be found here. Insiders sold a total of 25,670 shares of company stock valued at $727,188 over the last three months. 2.47% of the stock is owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.97%. Acadia Realty Trust’s payout ratio is currently 82.96%.
Acadia Realty Trust Company Profile
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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