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

Acadia Realty Trust (NYSE:AKR – Get 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

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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.