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

Acadia Realty Trust (NYSE:AKR - Get Free Report) declared 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 3.35%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change 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% per year over the last three years. Acadia Realty Trust has a payout ratio of 200.0% 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 $1.34 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 59.7%.

Acadia Realty Trust Price Performance

Shares of Acadia Realty Trust stock traded down $0.85 on Friday, reaching $23.90. The company's stock had a trading volume of 1,151,262 shares, compared to its average volume of 813,390. Acadia Realty Trust has a 52-week low of $16.09 and a 52-week high of $26.29. The company has a market capitalization of $2.86 billion, a P/E ratio of 265.51, a PEG ratio of 6.24 and a beta of 1.46. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average price of $23.61 and a 200-day moving average price of $23.52.

Acadia Realty Trust (NYSE:AKR - Get Free Report) 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 analysts' consensus estimates of $0.09 by $0.23. Acadia Realty Trust had a net margin of 3.07% and a return on equity of 0.48%. Analysts expect that Acadia Realty Trust will post 1.28 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AKR shares. Truist Financial increased their target price on Acadia Realty Trust from $23.00 to $27.00 and gave the company a "hold" rating in a report on Thursday, December 5th. StockNews.com downgraded shares of Acadia Realty Trust from a "hold" rating to a "sell" rating in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Acadia Realty Trust currently 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.