Acadia Realty Trust (NYSE:AKR) Expected to Announce Quarterly Sales of $68.40 Million

Analysts predict that Acadia Realty Trust (NYSE:AKR – Get Rating) will post $68.40 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Acadia Realty Trust’s earnings. The lowest sales estimate is $54.59 million and the highest is $82.20 million. Acadia Realty Trust reported sales of $74.66 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 8.4%. The business is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Acadia Realty Trust will report full-year sales of $273.50 million for the current fiscal year, with estimates ranging from $223.09 million to $323.90 million. For the next fiscal year, analysts expect that the company will report sales of $291.52 million, with estimates ranging from $241.63 million to $341.40 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Acadia Realty Trust.

Acadia Realty Trust (NYSE:AKR – Get Rating) last announced its earnings results on Monday, May 2nd. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.11). Acadia Realty Trust had a net margin of 11.45% and a return on equity of 1.48%. During the same quarter in the prior year, the company posted $0.25 EPS.

Several analysts have recently commented on the stock. StockNews.com began coverage on shares of Acadia Realty Trust in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research cut shares of Acadia Realty Trust from a “buy” rating to a “hold” rating in a research note on Friday, April 15th.

Shares of AKR stock opened at $19.69 on Friday. Acadia Realty Trust has a 12-month low of $18.57 and a 12-month high of $23.33. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.76. The firm’s 50 day moving average is $21.15 and its 200 day moving average is $21.26. The stock has a market capitalization of $1.87 billion, a P/E ratio of 51.82, a P/E/G ratio of 2.26 and a beta of 1.32.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $0.72 annualized dividend and a dividend yield of 3.66%. Acadia Realty Trust’s dividend payout ratio (DPR) is presently 189.48%.

In related news, Director Wendy W. Luscombe sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $21.18, for a total transaction of $31,770.00. Following the completion of the transaction, the director now owns 33,399 shares in the company, valued at approximately $707,390.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.75% of the company’s stock.

A number of institutional investors have recently modified their holdings of AKR. Mitsubishi UFJ Trust & Banking Corp increased its stake in Acadia Realty Trust by 225.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,670 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 1,157 shares in the last quarter. KBC Group NV acquired a new position in Acadia Realty Trust during the 4th quarter valued at approximately $39,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Acadia Realty Trust during the 3rd quarter valued at approximately $43,000. Selective Wealth Management Inc. acquired a new position in Acadia Realty Trust during the 4th quarter valued at approximately $44,000. Finally, US Asset Management LLC acquired a new position in Acadia Realty Trust during the 1st quarter valued at approximately $55,000. Institutional investors and hedge funds own 98.23% of the company’s stock.

About Acadia Realty Trust (Get Rating)

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.

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