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

Acadia Realty Trust (NYSE:AKR) announced a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Shareholders 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 3.32%. The ex-dividend date 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 payment by an average of 7.2% annually over the last three years. Acadia Realty Trust has a dividend payout ratio of 172.7% indicating that 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 $1.34 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 56.7%.

Acadia Realty Trust Trading Up 1.5 %

Shares of NYSE AKR opened at $24.10 on Thursday. Acadia Realty Trust has a 1-year low of $16.09 and a 1-year high of $26.29. The company has a 50-day moving average of $23.66 and a two-hundred day moving average of $23.46. The company has a market cap of $2.88 billion, a PE ratio of 267.78, a P/E/G ratio of 6.24 and a beta of 1.46. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.67.

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 net margin of 3.07% and a return on equity of 0.48%. As a group, equities analysts expect that Acadia Realty Trust will post 1.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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