Acadia Realty Trust (NYSE:AKR) Updates FY24 Earnings Guidance

Acadia Realty Trust (NYSE:AKR) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $1.24-1.32 for the period, compared to the consensus earnings per share estimate of $1.28. Acadia Realty Trust also updated its FY 2024 guidance to 1.240-1.320 EPS.

Acadia Realty Trust Price Performance

NYSE AKR traded up $0.29 on Monday, reaching $17.61. The company’s 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 92.64, a price-to-earnings-growth ratio of 11.56 and a beta of 1.44. The business has a 50-day moving average price of $16.72 and a 200 day moving average price of $16.20. Acadia Realty Trust has a 52 week low of $12.37 and a 52 week high of $17.73. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.90.

Acadia Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid 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%.

Analyst Ratings Changes

Several analysts have weighed in on AKR shares. Truist Financial cut shares of Acadia Realty Trust from a buy rating to a hold rating and set a $18.00 price objective on the stock. in a research note on Tuesday, January 16th. Bank of America raised shares of Acadia Realty Trust from a neutral rating to a buy rating and upped their price objective for the stock from $18.00 to $20.00 in a research note on Friday, April 5th. Finally, Jefferies Financial Group raised shares of Acadia Realty Trust from a hold rating to a buy rating and increased their price target for the company from $15.00 to $20.00 in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price 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.