Acadia Realty Trust (NYSE:AKR – Get Free Report) 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.
Wall Street Analyst Weigh In
Several equities analysts recently commented on AKR shares. Truist Financial cut shares of Acadia Realty Trust from a buy rating to a hold rating and set a $18.00 target price for the company. in a research note on Tuesday, January 16th. Jefferies Financial Group raised Acadia Realty Trust from a hold rating to a buy rating and lifted their target price for the stock from $15.00 to $20.00 in a research report on Tuesday, January 2nd. Finally, Bank of America raised Acadia Realty Trust from a neutral rating to a buy rating and lifted their price objective for the stock from $18.00 to $20.00 in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $18.50.
View Our Latest Research Report on Acadia Realty Trust
Acadia Realty Trust Stock Up 1.6 %
Acadia Realty Trust Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.72 annualized dividend and a dividend yield of 4.09%. Acadia Realty Trust’s dividend payout ratio is presently 378.97%.
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.
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