Acadia Realty Trust (NYSE:AKR) Announces Quarterly Earnings Results, Misses Estimates By $0.25 EPS

Acadia Realty Trust (NYSE:AKR) announced its quarterly earnings data on Monday. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.25), Yahoo Finance reports. The business had revenue of $87.70 million during the quarter, compared to the consensus estimate of $70.88 million. Acadia Realty Trust had a net margin of 0.20% and a return on equity of 0.03%. Acadia Realty Trust’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 earnings per share.

Acadia Realty Trust Stock Up 1.0 %

Shares of NYSE:AKR traded up $0.24 during trading on Wednesday, hitting $24.59. 1,325,810 shares of the company’s stock traded hands, compared to its average volume of 987,922. The company has a 50-day moving average price of $23.18 and a 200-day moving average price of $20.08. Acadia Realty Trust has a 52 week low of $13.48 and a 52 week high of $24.75. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 273.22, a price-to-earnings-growth ratio of 6.30 and a beta of 1.47.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AKR shares. Truist Financial raised their price target on Acadia Realty Trust from $18.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Compass Point upgraded Acadia Realty Trust from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $23.00 to $27.00 in a research report on Thursday, October 10th. Finally, StockNews.com raised Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.60.

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.