Acadia Realty Trust (NYSE:AKR) Declares Quarterly Dividend of $0.20

Acadia Realty Trust (NYSE:AKR) declared a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.20 per share by the real estate investment trust on Tuesday, April 15th. This represents a $0.80 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Acadia Realty Trust’s previous quarterly dividend of $0.19.

Acadia Realty Trust has raised its dividend by an average of 7.2% annually over the last three years. Acadia Realty Trust has a payout ratio of 200.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Acadia Realty Trust to earn $1.34 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 59.7%.

Acadia Realty Trust Stock Up 2.8 %

NYSE:AKR opened at $24.75 on Friday. The company’s 50-day simple moving average is $23.65 and its 200-day simple moving average is $23.46. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.14 and a current ratio of 1.14. Acadia Realty Trust has a fifty-two week low of $16.09 and a fifty-two week high of $26.29. The stock has a market capitalization of $2.96 billion, a P/E ratio of 274.98, a P/E/G ratio of 6.24 and a beta of 1.46.

Acadia Realty Trust (NYSE:AKR) last issued its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.32 EPS for the quarter, beating the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.48% and a net margin of 3.07%. On average, equities analysts anticipate that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AKR shares. StockNews.com downgraded Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd. Truist Financial raised their price objective on Acadia Realty Trust from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $23.00.

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.