KeyCorp Weighs in on Acadia Realty Trust’s Q2 2023 Earnings (NYSE:AKR)

Acadia Realty Trust (NYSE:AKRGet Rating) – Investment analysts at KeyCorp cut their Q2 2023 EPS estimates for Acadia Realty Trust in a research report issued on Sunday, January 22nd. KeyCorp analyst T. Thomas now forecasts that the real estate investment trust will post earnings of $0.27 per share for the quarter, down from their prior estimate of $0.31. The consensus estimate for Acadia Realty Trust’s current full-year earnings is $1.18 per share. KeyCorp also issued estimates for Acadia Realty Trust’s Q3 2023 earnings at $0.28 EPS, Q4 2023 earnings at $0.28 EPS, Q1 2024 earnings at $0.30 EPS, Q2 2024 earnings at $0.30 EPS, Q3 2024 earnings at $0.31 EPS and Q4 2024 earnings at $0.30 EPS.

A number of other research analysts have also commented on AKR. Truist Financial dropped their price objective on shares of Acadia Realty Trust from $22.00 to $17.00 in a research note on Thursday, October 20th. Citigroup downgraded shares of Acadia Realty Trust from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $17.00 to $16.00 in a research report on Wednesday, December 14th. TheStreet downgraded shares of Acadia Realty Trust from a “c” rating to a “d+” rating in a research report on Tuesday, November 1st. StockNews.com downgraded shares of Acadia Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, December 19th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Acadia Realty Trust from $19.00 to $16.00 and set an “underweight” rating for the company in a research report on Tuesday, December 6th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.17.

Acadia Realty Trust Trading Up 0.5 %

NYSE AKR opened at $15.16 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $1.44 billion, a PE ratio of -37.90, a P/E/G ratio of 2.11 and a beta of 1.40. Acadia Realty Trust has a one year low of $12.28 and a one year high of $22.63. The firm’s fifty day moving average is $14.71 and its two-hundred day moving average is $15.02.

Acadia Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, March 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.75%. Acadia Realty Trust’s dividend payout ratio (DPR) is -180.00%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quantbot Technologies LP purchased a new position in shares of Acadia Realty Trust during the 1st quarter worth approximately $45,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in Acadia Realty Trust by 56.1% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,146 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 771 shares during the period. Wipfli Financial Advisors LLC purchased a new stake in Acadia Realty Trust in the 3rd quarter worth approximately $30,000. Point72 Hong Kong Ltd purchased a new stake in Acadia Realty Trust in the 1st quarter worth approximately $75,000. Finally, KBC Group NV grew its stake in Acadia Realty Trust by 34.0% in the 2nd quarter. KBC Group NV now owns 7,360 shares of the real estate investment trust’s stock worth $115,000 after acquiring an additional 1,868 shares during the period.

Acadia Realty Trust Company Profile

(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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Earnings History and Estimates for Acadia Realty Trust (NYSE:AKR)

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