Acadia Realty Trust (AKR) 10-Year Financial Performance & Capital Metrics

AKR • • REIT / Real Estate

Real EstateRetail REITsOpen-Air Shopping CentersNational Open-Air Retail

AboutAcadia 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.Show more

Revenue $360M +6.2%
FFO $161M +3.0%
FFO/Share 1.48 -9.3%
FFO Payout 47.54% +8.0%
FFO per Share 1.48 -9.3%
NOI Margin 68.85% +1.3%
FFO Margin 44.64% -3.0%
ROE 0.93% +2.3%
ROA 0.5% +8.1%
Debt/Assets 38.3% -18.2%
Net Debt/EBITDA 8.10 -24.7%
Book Value/Share 23.39 +4.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓FFO growing 13.3% TTM
✓Sustainable FFO payout ratio of 47.5%
✓High NOI margin of 68.8%
✓Healthy dividend yield of 3.4%
✓Trading at only 0.9x book value

✗Weaknesses

✗Weak 3Y average ROE of 0.1%
✗Profits declining 16.6% over 5 years
✗Dividend payout exceeds 100% of earnings
✗Shares diluted 13.6% in last year

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y6.31%

5Y4.43%

3Y7.14%

TTM13.49%

Profit (Net Income) CAGR

10Y-11.21%

5Y-16.62%

3Y-2.76%

TTM50.25%

EPS CAGR

10Y-16.69%

5Y-5.34%

3Y-9.93%

TTM23.96%

ROCE

10Y Avg0.84%

5Y Avg0.48%

3Y Avg1.51%

Latest1.61%

Peer Comparison

National Open-Air Retail

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
KRGKite Realty Group Trust	5.05B	23.34	1261.62	2.29%	16.34%	4.26%	5.5%	0.95
AKRAcadia Realty Trust	2.75B	20.96	110.32	6.2%	4.44%	0.66%	5.11%	0.66
BRXBrixmor Property Group Inc.	7.98B	26.07	23.49	3.21%	24.7%	11.22%	7.83%	1.79
WSRWhitestone REIT	719.38M	14.10	19.58	5.13%	27.99%	9.98%	8.09%	1.42
SITCSITE Centers Corp.	328.94M	6.27	0.64	-38.7%	72.14%	12.2%	17.04%	0.58

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	217.26M	189.94M	250.26M	262.21M	289.58M	250.91M	292.5M	326.29M	338.69M	359.69M
Revenue Growth %	0.11%	-0.13%	0.32%	0.05%	0.1%	-0.13%	0.17%	0.12%	0.04%	0.06%
Property Operating Expenses	53.81M	49.87M	77.61M	81.92M	88.23M	98.03M	98.87M	101.93M	108.48M	112.05M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	95.79M	118.18M	140.87M	152.75M	128.28M	267.94M	162.97M	156.13M	181.14M	181.98M
G&A Expenses	30.37M	40.65M	33.76M	34.34M	34.3M	35.8M	40.13M	44.07M	41.47M	40.56M
EBITDA+	123.41M	189.94M	248.26M	259.68M	195.66M	32.17M	154.09M	204.15M	185.06M	204.57M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	60.75M	168.05M	230.94M	232.14M	122.58M	147.23M	123.44M	135.92M	135.98M	138.91M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	62.66M	21.89M	17.32M	27.54M	73.08M	-115.06M	30.66M	68.23M	49.08M	65.66M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	37.16M	34.65M	58.98M	69.98M	69.21M	69.67M	68.05M	80.21M	93.25M	92.56M
Interest Coverage	1.69x	0.63x	0.29x	0.39x	1.06x	-1.65x	0.45x	0.85x	0.53x	0.71x
Non-Operating Income	-37.33M	-65.28M	-81.81M	-27.67M	-20.83M	-119.28M	-63.52M	53.26M	-42.73M	-35.25M
Pretax Income+	151.76M	52.52M	16.43M	-19.9M	24.7M	-65.45M	26.12M	-65.24M	-1.45M	8.35M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	1.79M	-105K	1M	934K	1.47M	269K	93K	12K	301K	212K
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	65.71M	72.78M	61.47M	31.44M	53.72M	-8.98M	23.55M	-35.45M	19.87M	21.65M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.08%	0.11%	-0.16%	-0.49%	0.71%	-1.17%	3.62%	-2.51%	1.56%	0.09%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	0.05%	0.9%	0.21%	-0.1%	-0.33%	-0.22%	0.06%	-0.32%	0.55%	0.03%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	0.94	0.94	0.73	0.38	0.25	-0.11	0.26	-0.40	0.20	0.19
EPS Growth %	-0.2%	0%	-0.22%	-0.48%	-0.34%	-1.44%	3.36%	-2.54%	1.5%	-0.05%
EPS (Basic)	0.94	0.94	0.73	0.38	0.25	-0.11	0.26	-0.38	0.20	0.19
Diluted Shares Outstanding	68.87M	76.58M	83.69M	82.73M	84.44M	86.44M	87.65M	94.64M	95.28M	108.26M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	3.03B	4B	3.96B	3.96B	4.31B	4.13B	4.26B	4.3B	4.29B	4.37B
Asset Growth %	0.11%	0.32%	-0.01%	-0%	0.09%	-0.04%	0.03%	0.01%	-0%	0.02%
Real Estate & Other Assets+	626.49M	192.79M	214.96M	1.95M	190.66M	128.52M	3.45B	3.61B	3.67B	3.74B
PP&E (Net)	1.83B	2.98B	3B	3.32B	3.49B	3.27B	40.74M	37.28M	29.29M	25.53M
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	346.3M	436.21M	316.6M	259.66M	204.04M	360.97M	336.52M	259.24M	290.97M	305.1M
Cash & Equivalents	72.78M	71.81M	74.82M	21.27M	15.85M	18.7M	17.75M	17.16M	17.48M	16.81M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	37.28M	44.4M	36.21M	13.58M	127.25M	52.01M	73.77M	26.12M	18.87M	22.9M
Intangible Assets	52.59M	114.58M	127.57M	115.94M	116.82M	100.43M	108.92M	102.37M	100.59M	86.85M
Total Liabilities	1.51B	1.82B	1.74B	1.88B	2.12B	2.08B	2.11B	2.05B	2.16B	1.84B
Total Debt+	1.36B	1.56B	1.5B	1.72B	1.71B	1.89B	1.93B	1.91B	2.01B	1.67B
Net Debt	1.29B	1.49B	1.42B	1.7B	1.69B	1.87B	1.92B	1.9B	1.99B	1.66B
Long-Term Debt	0	0	1.33B	0	1.27B	1.8B	1.7B	1.62B	1.66B	1.52B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	219K	1000K	1000K	1000K	1000K
Capital Lease Obligations	31.81M	70.13M	70.61M	166.16M	134.42M	95.1M	122.15M	120.71M	138.31M	136.83M
Total Current Liabilities+	89.55M	258.99M	291.09M	139.5M	474.75M	68.38M	232.26M	291.61M	335.6M	162.72M
Accounts Payable	38.76M	48.29M	61.42M	65.22M	68.84M	52.4M	56.58M	59.92M	61.42M	68.35M
Deferred Revenue	-1.36B	35.27M	31.31M	34.05M	33.68M	0	38.37M	34.5M	34.39M	39.35M
Other Liabilities	152.36M	1.45B	21.59M	1.63B	208.43M	120.14M	19.7M	16.63M	26.83M	16.11M
Total Equity+	1.52B	2.18B	2.22B	2.08B	2.19B	2.05B	2.15B	2.25B	2.13B	2.53B
Equity Growth %	0.06%	0.43%	0.02%	-0.06%	0.05%	-0.06%	0.05%	0.05%	-0.05%	0.19%
Shareholders Equity	1.1B	1.59B	1.57B	1.46B	1.54B	1.44B	1.52B	1.69B	1.64B	2.07B
Minority Interest	420.87M	589.55M	648.44M	622.44M	644.66M	609.16M	628.32M	557.03M	496.64M	466.6M
Common Stock	70K	84K	84K	82K	87K	86K	89K	95K	95K	120K
Additional Paid-in Capital	1.09B	1.59B	1.6B	1.55B	1.71B	1.68B	1.75B	1.95B	1.95B	2.44B
Retained Earnings	12.64M	-5.63M	-32.01M	-89.7M	-132.96M	0	-196.65M	-300.4M	-349.14M	-409.38M
Preferred Stock	0	0	0	0	0	0	0	0	0	0
Return on Assets (ROA)	0.02%	0.02%	0.02%	0.01%	0.01%	-0%	0.01%	-0.01%	0%	0%
Return on Equity (ROE)	0.04%	0.04%	0.03%	0.01%	0.03%	-0%	0.01%	-0.02%	0.01%	0.01%
Debt / Assets	0.45%	0.39%	0.38%	0.43%	0.4%	0.46%	0.45%	0.44%	0.47%	0.38%
Debt / Equity	0.89x	0.72x	0.67x	0.82x	0.78x	0.92x	0.90x	0.85x	0.94x	0.66x
Net Debt / EBITDA	10.42x	7.83x	5.72x	6.53x	8.65x	58.25x	12.44x	9.29x	10.76x	8.10x
Book Value per Share	22.09	28.44	26.48	25.16	25.90	23.72	24.53	23.76	22.39	23.39

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	113.6M	111.76M	119.83M	96.08M	127.18M	103.95M	104.98M	133.21M	155.76M	140.45M
Operating CF Growth %	0.38%	-0.02%	0.07%	-0.2%	0.32%	-0.18%	0.01%	0.27%	0.17%	-0.1%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	149.97M	134.59M	64.31M	-15.7M	21.2M	-9.21M	26.03M	-65.25M	-1.75M	8.14M
Depreciation & Amortization	60.75M	70.01M	104.93M	117.55M	125.44M	147.23M	123.44M	135.92M	135.98M	138.91M
Stock-Based Compensation	7.44M	13.7M	11.15M	12.95M	10.96M	0	12.43M	11.12M	12.75M	12.79M
Other Non-Cash Items	-3.08M	-4.89M	-10.2M	-5.76M	-30.3M	-3.22M	-7.53M	61.88M	7.14M	18.54M
Working Capital Changes	7.49M	12.51M	-1.81M	-14.08M	4.91M	-30.85M	4.75M	-10.45M	1.63M	-37.93M
Cash from Investing+	-354.5M	-610.97M	10.08M	-136.62M	-397.06M	-48.75M	-198.54M	-124.17M	-208.54M	-170.66M
Acquisitions (Net)	-12.28M	-20.23M	17.7M	23.75M	-45.28M	52.17M	2.89M	-73.33M	-9.25M	-9.16M
Purchase of Investments	-581.46M	-877.11M	-327.71M	-248.98M	-563.83M	-131.27M	-234.58M	-4.53M	0	0
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	-342.23M	-590.74M	-7.62M	-160.37M	38.23M	0	-2.89M	-211.83M	-203.92M	-175.81M
Cash from Financing+	96.1M	498.24M	-126.9M	-10.28M	265.04M	-53.43M	91.32M	-4.38M	45.85M	44.62M
Dividends Paid	-86.35M	-91.33M	-99.53M	-88.89M	-93.9M	-50.18M	-39.48M	-64.59M	-68.57M	-76.32M
Common Dividends	-86.35M	-91.33M	-99.53M	-88.89M	-93.9M	0	-39.48M	-64.59M	-68.57M	-76.32M
Debt Issuance (Net)	1000K	-1000K	-1000K	1000K	1000K	1000K	1000K	-1000K	1000K	-1000K
Share Repurchases	0	0	0	-55.11M	0	-22.39M	0	0	0	0
Other Financing	-4.82M	177.44M	-45.29M	11.77M	44.61M	-31.46M	-7.68M	369K	19.51M	-3.37M
Net Change in Cash+	-144.8M	-971K	3.02M	-50.82M	-4.84M	-215K	-2.24M	4.66M	-6.93M	14.41M
Exchange Rate Effect	0	0	0	0	0	-1000K	0	0	0	0
Cash at Beginning	217.58M	72.78M	71.81M	85.67M	34.85M	30.01M	29.8M	27.56M	32.22M	25.29M
Cash at End	72.78M	71.81M	74.82M	34.85M	30.01M	29.8M	27.56M	32.22M	25.29M	39.7M
Free Cash Flow+	105.39M	104.25M	114.63M	89.97M	88.15M	103.95M	59.4M	74.17M	155.76M	140.45M
FCF Growth %	0.28%	-0.01%	0.1%	-0.22%	-0.02%	0.18%	-0.43%	0.25%	1.1%	-0.1%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	1.84	3.14	3.49	3.19	2.09	1.6	1.68	1.06	1.64	1.48
FFO Payout Ratio	68.29%	37.93%	34.04%	33.72%	53.26%	36.3%	26.86%	64.28%	43.99%	47.54%
NOI Margin	75.23%	73.74%	68.99%	68.76%	69.53%	60.93%	66.2%	68.76%	67.97%	68.85%
Net Debt / EBITDA	10.42x	7.83x	5.72x	6.53x	8.65x	58.25x	12.44x	9.29x	10.76x	8.10x
Debt / Assets	44.8%	39.01%	37.75%	43.36%	39.64%	45.81%	45.39%	44.48%	46.8%	38.3%
Interest Coverage	1.69x	0.63x	0.29x	0.39x	1.06x	-1.65x	0.45x	0.85x	0.53x	0.71x
Book Value / Share	22.09	28.44	26.48	25.16	25.9	23.72	24.53	23.76	22.39	23.39
Revenue Growth	11.41%	-12.58%	31.76%	4.78%	10.44%	-13.36%	16.58%	11.55%	3.8%	6.2%

Revenue by Segment

	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
Core Portfolio	-	-	150.21M	169.97M	-	-	-	181.33M	202.55M	203.54M
Core Portfolio Growth	-	-	-	13.16%	-	-	-	-	11.70%	0.49%
Opportunity Funds	54.66M	49.05M	-	80.29M	-	-	-	111.17M	123.74M	135.15M
Opportunity Funds Growth	-	-10.27%	-	-	-	-	-	-	11.31%	9.22%
Structured Financing	-	-	-	-	-	-	-	-	-	-
Structured Financing Growth	-	-	-	-	-	-	-	-	-	-
Real Estate Other	-	-	-	-	5.17M	4.14M	4.48M	-	-	-
Real Estate Other Growth	-	-	-	-	-	-20.03%	8.34%	-	-	-
Real Estate	-	-	-	-	208.76M	-	-	-	-	-
Real Estate Growth	-	-	-	-	-	-	-	-	-	-
Expense Reimbursements	-	-	-	-	48.28M	-	-	-	-	-
Expense Reimbursements Growth	-	-	-	-	-	-	-	-	-	-
Notes Receivable	15.33M	18.2M	-	-	-	-	-	-	-	-
Notes Receivable Growth	-	18.71%	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Acadia Realty Trust (AKR) has a price-to-earnings (P/E) ratio of 110.3x. This suggests investors expect higher future growth.

Growth & Financials

Acadia Realty Trust (AKR) reported $399.3M in revenue for fiscal year 2024. This represents a 166% increase from $150.2M in 2011.

Acadia Realty Trust (AKR) grew revenue by 6.2% over the past year. This is steady growth.

Yes, Acadia Realty Trust (AKR) is profitable, generating $17.7M in net income for fiscal year 2024 (6.0% net margin).

Dividend & Returns

Yes, Acadia Realty Trust (AKR) pays a dividend with a yield of 3.36%. This makes it attractive for income-focused investors.

Acadia Realty Trust (AKR) has a return on equity (ROE) of 0.9%. This is below average, suggesting room for improvement.

Industry Metrics

Acadia Realty Trust (AKR) generated Funds From Operations (FFO) of $170.5M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Acadia Realty Trust (AKR) offers a 3.36% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

US Stock Screener

...