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Acadia Realty Rewards Shareholders with Dividend Increase

Much to the delight of its shareholders, Acadia Realty Trust AKR has raised the quarterly dividend for the quarter ending on Dec 31, 2016, by 4% on a sequential basis to 26 cents a share. This cash dividend will be paid on Jan 13, 2017 to the shareholders on record as of Dec 30, 2016. In addition to the quarterly dividend, the Rye, NY-based retail real estate investment trust (“REIT”) has announced a special cash dividend of 15 cents per share. The special dividend will also be paid on Jan 13, 2017 to the shareholders on record as of Dec 30, 2016.

Acadia Realty is primarily engaged in the ownership, acquisition, redevelopment and management of neighborhood and community shopping centers. The company is focusing on delivering sustained and profitable growth through its disciplined investment strategy.

This hike in regular quarterly dividend highlights the successful execution of its growth strategy on a persistent basis. Moreover, the company is paying the special dividend for the third successive year. The company has been able to pay this special dividend on account of substantial benefits accrued from the fund business.

Currently, Acadia Realty has a Zacks Rank #3 (Hold). Over the past seven days, its current-quarter funds from operation (FFO) estimates increased 2.4% to 42 cents.

Some better-ranked stocks in the same space include EPR Properties EPR, Realty Income Corporation O and Retail Properties of America, Inc. RPAI. All these stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

EPR Properties’ current quarter estimates have moved up 1.6% over the past seven days to $1.24.

ACADIA RLTY TR Price

 

ACADIA RLTY TR Price | ACADIA RLTY TR Quote

Current quarter estimates for Retail Properties of America rose 4.2% over the past seven days to 25 cents.

Current quarter estimates for Realty Income remained unchanged at 75 cents over the seven days.

Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.

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ACADIA RLTY TR (AKR): Free Stock Analysis Report
 
EPR PROPERTIES (EPR): Free Stock Analysis Report
 
REALTY INCOME (O): Free Stock Analysis Report
 
RETAIL PROPERTS (RPAI): Free Stock Analysis Report
 
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