Acadia Realty Trust (NYSE:AKR) Announces Dividend Increase – $0.20 Per Share

Acadia Realty Trust (NYSE:AKR) declared a quarterly dividend on Tuesday, February 11th, Wall Street Journal reports. Investors of record on Monday, March 31st will be paid a dividend of 0.20 per share by the real estate investment trust on Tuesday, April 15th. This represents a $0.80 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Monday, March 31st. This is a 5.3% increase from Acadia Realty Trust’s previous quarterly dividend of $0.19.

Acadia Realty Trust has increased its dividend payment by an average of 7.2% per year over the last three years. Acadia Realty Trust has a dividend payout ratio of 195.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Acadia Realty Trust to earn $1.44 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 55.6%.

Acadia Realty Trust Stock Performance

Shares of AKR stock opened at $21.00 on Friday. The stock’s 50-day moving average is $22.64 and its two-hundred day moving average is $23.57. Acadia Realty Trust has a fifty-two week low of $16.14 and a fifty-two week high of $26.29. The firm has a market cap of $2.51 billion, a P/E ratio of 116.68, a PEG ratio of 6.09 and a beta of 1.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.96 and a quick ratio of 0.96.

Acadia Realty Trust (NYSE:AKR) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.23. Acadia Realty Trust had a return on equity of 0.88% and a net margin of 5.74%. Analysts predict that Acadia Realty Trust will post 1.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity

In related news, EVP Jason Blacksberg sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $22.81, for a total transaction of $684,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.83% of the stock is currently owned by company insiders.

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 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.