Acadia Realty Trust (AKR)
NYSE:AKR
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Acadia Realty
(NYSE:AKR)
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Rating:75Outperform
Price Target:
$24.50
▲(12.75% Upside)
Action:ReiteratedDate:04/30/26
AKR scores well on improving fundamentals and cash generation, plus a strong earnings-call setup with raised FFO guidance, higher occupancy, and a robust leasing pipeline. Technicals also support the score with clear uptrend signals. The score is held back by the sharp TTM revenue decline, historical volatility/financial comparability questions, and limited valuation clarity due to an unusable P/E metric.
Positive Factors
Improving cash generation
Rising operating cash flow and a ~31% TTM free cash flow increase signal durable internal funding for distributions, redevelopment and acquisitions. Strong FCF coverage (~61% of net income) reduces reliance on equity issuance and supports longer-term FFO stability, though FCF variability warrants monitoring.
Negative Factors
Top-line weakness
A ~34% TTM revenue decline is a material durability concern: sustaining recent margin improvements requires replacement of lost revenue through leasing, redevelopment or acquisitions. Persistent top-line weakness would pressure long-term FFO and make earnings more reliant on transactional gains and fund-related fees.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving cash generation
Rising operating cash flow and a ~31% TTM free cash flow increase signal durable internal funding for distributions, redevelopment and acquisitions. Strong FCF coverage (~61% of net income) reduces reliance on equity issuance and supports longer-term FFO stability, though FCF variability warrants monitoring.
Read all positive factors
Acadia Realty (AKR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.96B
Dividend Yield3.83%
Average Volume (3M)1.09M
Price to Earnings (P/E)20.6
Beta (1Y)0.76
Revenue Growth9.83%
EPS Growth80.92%
CountryUS
Employees129
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)0.31
Shares Outstanding133,517,140
10 Day Avg. Volume1,017,564
30 Day Avg. Volume1,092,313
Financial Highlights & Ratios
PEG Ratio-3.96
Price to Book (P/B)1.21
Price to Sales (P/S)6.55
P/FCF Ratio16.12
Enterprise Value/Market Cap1.53
Enterprise Value/Revenue11.06
Enterprise Value/Gross Profit21.93
Enterprise Value/Ebitda12.46
Forecast
1Y Price Target
$23.50Price Target Upside8.15% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.32
Revenue Forecast (FY)$391.71M
Acadia Realty Business Overview & Revenue Model
Company Description
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 T...
How the Company Makes Money
Acadia Realty generates earnings primarily through (1) property-level operating income from its owned real estate and (2) fees and incentive income from managing and investing alongside third-party capital in its managed funds.
1) Rental and prop...
Acadia Realty Earnings Call Summary
Earnings Call Date:Apr 28, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Positive
The call presented multiple strong operational and financial positives — double-digit earnings growth, raised guidance, substantial transaction volume, improved occupancy, and a substantial leasing pipeline — balanced against macro uncertainty, increased competition that necessitates more value-add activity, and some timing/capitalization headwinds (CityPoint loan conversion impact, capitalized redevelopment costs, and backloaded commencements). Overall the company conveyed confidence in its street-retail thesis and sufficient balance-sheet flexibility to pursue accretive growth, while acknowledging market and timing risks.Positive Updates
Strong Earnings Growth
Reported year-over-year earnings (FFO) growth of 11%, driven by nearly 6% same-store growth; raised full-year 2026 FFO guidance to $1.22–$1.26 (midpoint ~9% growth versus 2025 FFO of $1.14).
Negative Updates
Macro and Capital Markets Uncertainty
Management noted geopolitical events and heightened uncertainty in capital markets that create risk and make some yield-on-purchase targets harder to achieve, prompting a shift toward more value-add, hands-on investments.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Earnings Growth
Reported year-over-year earnings (FFO) growth of 11%, driven by nearly 6% same-store growth; raised full-year 2026 FFO guidance to $1.22–$1.26 (midpoint ~9% growth versus 2025 FFO of $1.14).
Read all positive updates
Company Guidance
Management raised 2026 FFO guidance to $1.22–$1.26 (vs. $1.14 in 2025), a ~9% midpoint increase, and said the ~$0.10 year‑over‑year uplift is driven roughly by $0.07–$0.09 from internal NOI (including redevelopments), $0.04–$0.05 from external growth and $0.01–$0.02 from investment‑management scaling, partially offset by ~ $0.04 tied to the anticipated CityPoint loan conversion; they expect a quarterly FFO run‑rate of $0.30–$0.32 for the balance of 2026, remain on track to hit same‑store NOI of ~7% (Q2: 6–8%, Q3: 7–9%, Q4: 5–7%) with street/urban outperforming suburban by 400–500 bps, report REIT economic occupancy at 94% (portfolio 91.7% as of March 31), and detailed a signed‑not‑open (SNO) pipeline of $10.5M (≈5% of RABR) that grew ~18% in the quarter (≈25% of the pipeline commenced in Q1), noting ~80% of SNO (stated as $79M of ABR) is expected to commence in 2026 driving ~$2–$3M of incremental ABR in 2026 and ~$7–$8M into 2027, while of the $5.3M ABR in the SNO redevelopment pool the company expects to capitalize $3–$4M of costs on a full‑year run rate.Acadia Realty Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
72
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 409.36M | 410.76M | 359.69M | 338.69M | 326.29M | 292.50M |
| Gross Profit | 206.52M | 207.51M | 247.64M | 230.22M | 224.36M | 193.62M |
| EBITDA | 363.35M | 213.17M | 239.82M | 227.79M | 150.89M | 217.61M |
| Net Income | 45.77M | 13.58M | 21.65M | 19.87M | -35.45M | 23.55M |
Balance Sheet | ||||||
| Total Assets | 4.53B | 4.84B | 4.37B | 4.29B | 4.30B | 4.26B |
| Cash, Cash Equivalents and Short-Term Investments | 31.41M | 38.82M | 31.58M | 50.77M | 17.16M | 17.75M |
| Total Debt | 1.65B | 1.92B | 1.60B | 1.93B | 1.84B | 1.93B |
| Total Liabilities | 1.89B | 2.21B | 1.84B | 2.16B | 2.05B | 2.11B |
| Stockholders Equity | 2.28B | 2.23B | 2.07B | 1.64B | 1.69B | 1.52B |
Cash Flow | ||||||
| Free Cash Flow | 73.20M | 166.98M | 60.20M | 86.22M | 74.17M | 59.40M |
| Operating Cash Flow | 172.45M | 166.98M | 140.45M | 155.76M | 133.21M | 104.98M |
| Investing Cash Flow | 113.16M | -450.46M | -170.66M | -208.54M | -124.17M | -198.54M |
| Financing Cash Flow | -293.13M | 300.67M | 44.62M | 45.85M | -4.38M | 91.32M |
Acadia Realty Technical Analysis
Positive
21.73
Price Trends
20.20
Positive
20.12
Positive
19.52
Positive
Market Momentum
0.37
Negative
74.71
Negative
98.79
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AKR, the sentiment is Positive. The current price of 21.73 is above the 20-day moving average (MA) of 19.84, above the 50-day MA of 20.20, and above the 200-day MA of 19.52, indicating a bullish trend. The MACD of 0.37 indicates Negative momentum. The RSI at 74.71 is Negative, neither overbought nor oversold. The STOCH value of 98.79 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AKR.
Acadia Realty Risk Analysis
Acadia Realty disclosed 50 risk factors in its most recent earnings report. Acadia Realty reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Acadia Realty Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $2.00B | 17.87 | 8.76% | 6.77% | 8.23% | 24.98% | |
75 Outperform | $2.96B | 20.58 | 2.03% | 3.83% | 9.83% | 80.92% | |
74 Outperform | $2.76B | 21.30 | 7.40% | 6.10% | 10.16% | 3.37% | |
72 Outperform | $2.94B | 214.92 | 1.72% | 3.13% | 54.10% | 154.17% | |
70 Outperform | $2.44B | 114.48 | 6.22% | 3.26% | 9.91% | 518.94% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
65 Neutral | $2.02B | 79.09 | 0.78% | 4.61% | 20.51% | ― |
* Real Estate Sector Average
AKR
Acadia Realty
21.77
2.02
10.22%
GTY
Getty Realty
33.02
6.34
23.74%
FCPT
Four Corners Property
25.17
-0.59
-2.31%
IVT
InvenTrust Properties
31.34
3.43
12.29%
NTST
NETSTREIT
20.67
5.61
37.21%
CURB
Curbline Properties Corp.
27.88
4.81
20.82%
Acadia Realty Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Acadia Realty Expands and Extends Credit Facility Capacity
Positive
Apr 20, 2026
On April 17, 2026, Acadia Realty Limited Partnership and its subsidiaries entered into a Fourth Amended and Restated Credit Facility that extends the maturity of its $525 million revolving credit line from 2028 to 2030, while preserving up to $60 ...
Business Operations and StrategyExecutive/Board Changes
Acadia Realty Announces Retirement of Senior Administrative Executive
Neutral
Feb 6, 2026
On February 3, 2026, Acadia Realty Trust announced that Senior Vice President and Chief Administrative Officer Joseph Napolitano plans to retire, with his departure effective on or about April 1, 2026, and emphasized that his decision did not stem...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.