Acadia Realty TrustNYSE: AKR

Acadia Realty Trust (AKR) has been experiencing positive changes in earnings estimates and has a promising Zacks Earnings ESP as we approach earnings season.

Acadia Realty Trust offers a secure 4.2% dividend yield from street retail, but I am not interested in purchasing it.

Acadia Realty Trust owns and manages retail properties in metropolitan and suburban markets across the US. The company's portfolio includes properties in major cities such as Chicago, New York, Los Angeles, and San Francisco. Acadia's financial performance has been disappointing, with shrinking same-store NOI and FFO, as well as an ever-decreasing stock price.

Acadia Realty Trust (AKR) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Acadia Realty Trust (NYSE:AKR ) Q3 2023 Earnings Call Transcript October 31, 2023 11:00 AM ET Company Participants John Demoulas - Analyst Ken Bernstein - President and CEO AJ Levine - SVP, Leasing and Development John Gottfried - EVP, CFO Conference Call Participants Floris van Dijkum - Compass Point Ki Bin Kim - Truist Linda Tsai - Jefferies Craig Mailman - Citi Todd Thomas - KeyBanc Capital Markets Lizzy Doykan - BofA Securities Paulina Rojas Schmidt - Green Street Operator Good day and thank you for standing by. Welcome to the Q3 2023 Acadia Realty Trust Earnings Conference Call.

Acadia Realty Trust (AKR) came out with quarterly funds from operations (FFO) of $0.27 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.28 per share a year ago.

Here is how Acadia Realty Trust (AKR) and Allianz SE (ALIZY) have performed compared to their sector so far this year.

Acadia has kept its quarterly dividend payments stable and currently yields 4.8%. Its recent $0.18 per share dividend payment was 205% covered by fiscal 2023 second-quarter funds from operations. The REIT is also currently swapping hands for a rare discount to tangible book value per share.

After reaching an important support level, Acadia Realty Trust (AKR) could be a good stock pick from a technical perspective. AKR recently experienced a "golden cross" event, which saw its 50-day simple moving average breaking out above its 200-day simple moving average.