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Acadia Realty Trust

DB:WX1
Snowflake Description

Established dividend payer with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
WX1
DB
$2B
Imp Market Cap
  1. Home
  2. DE
  3. Real Estate
Company description

Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual - Core and Fund - operating platforms and its disciplined, location-driven investment strategy. The last earnings update was 63 days ago. More info.


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WX1 Share Price and Events
7 Day Returns
4.2%
DB:WX1
-0.7%
Europe REITs
1.5%
DE Market
1 Year Returns
36.1%
DB:WX1
-2.4%
Europe REITs
-6.2%
DE Market
WX1 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Acadia Realty Trust (WX1) 4.2% 4.4% 9.9% 36.1% -15.7% 29%
Europe REITs -0.7% 1.2% 6.5% -2.4% 2.2% 14.4%
DE Market 1.5% 6% 8.5% -6.2% 10.7% 15.3%
1 Year Return vs Industry and Market
  • WX1 outperformed the REITs industry which returned -2.4% over the past year.
  • WX1 outperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
WX1
Industry
5yr Volatility vs Market

WX1 Value

 Is Acadia Realty Trust undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Acadia Realty Trust to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Acadia Realty Trust.

DB:WX1 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:WX1
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.54
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.537 (1 + (1- 21%) (68.44%))
0.884
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.88
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.884 * 5.96%)
5.5%

Discounted Cash Flow Calculation for DB:WX1 using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Acadia Realty Trust is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Acadia Realty Trust is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

DB:WX1 DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 5.5%)
2019 95.87 Analyst x2 90.87
2020 105.58 Analyst x2 94.86
2021 109.52 Est @ 3.73% 93.27
2022 112.46 Est @ 2.68% 90.78
2023 114.65 Est @ 1.95% 87.73
2024 116.29 Est @ 1.43% 84.34
2025 117.53 Est @ 1.07% 80.80
2026 118.49 Est @ 0.82% 77.22
2027 119.25 Est @ 0.64% 73.66
2028 119.87 Est @ 0.52% 70.18
Present value of next 10 years cash flows $843.72
DB:WX1 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $119.87 × (1 + 0.23%) ÷ (5.5% – 0.23%)
$2,279.39
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,279.39 ÷ (1 + 5.5%)10
$1,334.58
DB:WX1 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $843.72 + $1,334.58
$2,178.30
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,178.30 / 85.95
$25.62
DB:WX1 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:WX1 represents 0.88599x of NYSE:AKR
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.88599x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 25.62 x 0.88599
€22.70
Value per share (EUR) From above. €22.70
Current discount Discount to share price of €24.99
= -1 x (€24.99 - €22.70) / €22.70
-10.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Acadia Realty Trust is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Acadia Realty Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Acadia Realty Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:WX1 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.38
NYSE:AKR Share Price ** NYSE (2019-04-23) in USD $28.2
Europe REITs Industry PE Ratio Median Figure of 125 Publicly-Listed REITs Companies 12.27x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.6x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Acadia Realty Trust.

DB:WX1 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:AKR Share Price ÷ EPS (both in USD)

= 28.2 ÷ 0.38

74.25x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Acadia Realty Trust is overvalued based on earnings compared to the Europe REITs industry average.
  • Acadia Realty Trust is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Acadia Realty Trust's expected growth come at a high price?
Raw Data
DB:WX1 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 74.25x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
1.1%per year
Europe REITs Industry PEG Ratio Median Figure of 61 Publicly-Listed REITs Companies 0.57x
Germany Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

DB:WX1 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 74.25x ÷ 1.1%

69.04x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Acadia Realty Trust is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Acadia Realty Trust's assets?
Raw Data
DB:WX1 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $17.90
NYSE:AKR Share Price * NYSE (2019-04-23) in USD $28.2
Europe REITs Industry PB Ratio Median Figure of 149 Publicly-Listed REITs Companies 0.98x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.84x
DB:WX1 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:AKR Share Price ÷ Book Value per Share (both in USD)

= 28.2 ÷ 17.90

1.58x

* Primary Listing of Acadia Realty Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Acadia Realty Trust is overvalued based on assets compared to the Europe REITs industry average.
X
Value checks
We assess Acadia Realty Trust's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Acadia Realty Trust has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

WX1 Future Performance

 How is Acadia Realty Trust expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
1.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Acadia Realty Trust expected to grow at an attractive rate?
  • Acadia Realty Trust's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Acadia Realty Trust's earnings growth is positive but not above the Germany market average.
  • Acadia Realty Trust's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:WX1 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:WX1 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 1.1%
DB:WX1 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts -12.6%
Europe REITs Industry Earnings Growth Rate Market Cap Weighted Average 7.3%
Europe REITs Industry Revenue Growth Rate Market Cap Weighted Average 2.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:WX1 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:WX1 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31
2020-12-31 220 32 2
2019-12-31 208 29 2
DB:WX1 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 275 96 31
2018-09-30 271 100 45
2018-06-30 271 100 49
2018-03-31 263 118 53
2017-12-31 261 115 61
2017-09-30 246 142 60
2017-06-30 224 138 53
2017-03-31 208 118 59
2016-12-31 195 110 72
2016-09-30 197 85 61
2016-06-30 211 103 69
2016-03-31 222 105 77

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Acadia Realty Trust's earnings are expected to grow by 1.1% yearly, however this is not considered high growth (20% yearly).
  • Acadia Realty Trust's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:WX1 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Acadia Realty Trust Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:WX1 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 0.38 0.38 0.38 2.00
2019-12-31 0.34 0.34 0.34 2.00
DB:WX1 Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.38
2018-09-30 0.54
2018-06-30 0.58
2018-03-31 0.63
2017-12-31 0.73
2017-09-30 0.72
2017-06-30 0.65
2017-03-31 0.74
2016-12-31 0.94
2016-09-30 0.84
2016-06-30 0.97
2016-03-31 1.11

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Acadia Realty Trust is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Acadia Realty Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Acadia Realty Trust has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

WX1 Past Performance

  How has Acadia Realty Trust performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Acadia Realty Trust's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Acadia Realty Trust's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Acadia Realty Trust's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Acadia Realty Trust's 1-year earnings growth is negative, it can't be compared to the Europe REITs industry average.
Earnings and Revenue History
Acadia Realty Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Acadia Realty Trust Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:WX1 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 274.56 31.17 34.34
2018-09-30 270.56 44.91 32.83
2018-06-30 270.57 48.50 32.80
2018-03-31 262.63 52.73 33.76
2017-12-31 260.97 60.83 33.76
2017-09-30 246.28 59.72 35.19
2017-06-30 224.02 53.05 40.11
2017-03-31 208.15 58.89 39.77
2016-12-31 194.53 71.98 40.65
2016-09-30 196.71 61.11 37.97
2016-06-30 211.10 68.61 32.70
2016-03-31 221.81 77.03 32.19
2015-12-31 212.74 64.78 30.37
2015-09-30 227.87 65.28 29.68
2015-06-30 218.92 79.77 29.20
2015-03-31 213.49 64.82 28.07
2014-12-31 291.65 69.71 27.43
2014-09-30 200.55 67.90 29.19
2014-06-30 195.55 48.57 27.40
2014-03-31 186.24 45.23 26.83
2013-12-31 181.06 33.45 25.56
2013-09-30 164.36 34.63 21.85
2013-06-30 145.35 31.58 22.03
2013-03-31 130.61 29.16 20.92
2012-12-31 115.54 23.16 21.22
2012-09-30 86.34 16.91 22.55
2012-06-30 98.66 14.97 22.80

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Acadia Realty Trust has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Acadia Realty Trust used its assets less efficiently than the Europe REITs industry average last year based on Return on Assets.
  • Acadia Realty Trust's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Acadia Realty Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Acadia Realty Trust has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

WX1 Health

 How is Acadia Realty Trust's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Acadia Realty Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Acadia Realty Trust is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Acadia Realty Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Acadia Realty Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Acadia Realty Trust Company Filings, last reported 3 months ago.

DB:WX1 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,081.95 1,628.96 28.29
2018-09-30 2,123.80 1,553.07 24.64
2018-06-30 2,112.55 1,532.91 29.58
2018-03-31 2,164.67 1,527.25 49.30
2017-12-31 2,215.64 1,496.49 79.23
2017-09-30 2,169.79 1,676.81 50.92
2017-06-30 2,180.40 1,617.67 46.09
2017-03-31 2,196.49 1,575.16 51.09
2016-12-31 2,178.13 1,562.44 74.73
2016-09-30 2,009.05 1,309.32 49.24
2016-06-30 1,760.92 1,261.17 83.85
2016-03-31 1,628.48 1,308.96 84.86
2015-12-31 1,521.35 1,364.48 73.59
2015-09-30 1,514.54 1,325.65 72.81
2015-06-30 1,519.87 1,330.67 104.95
2015-03-31 1,441.73 1,312.24 119.56
2014-12-31 1,435.96 1,123.20 217.78
2014-09-30 1,202.33 1,143.67 132.23
2014-06-30 1,192.36 1,077.23 87.70
2014-03-31 1,130.80 1,111.18 72.79
2013-12-31 1,121.59 1,042.00 82.29
2013-09-30 1,113.16 1,007.06 88.42
2013-06-30 1,113.89 1,094.00 100.02
2013-03-31 1,086.69 1,107.32 81.83
2012-12-31 1,070.26 617.58 91.81
2012-09-30 928.62 877.07 85.30
2012-06-30 899.47 859.25 66.46
  • Acadia Realty Trust's level of debt (78.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (93% vs 78.2% today).
  • Debt is not well covered by operating cash flow (5.9%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 0.7x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Acadia Realty Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Acadia Realty Trust has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

WX1 Dividends

 What is Acadia Realty Trust's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.97%
Current annual income from Acadia Realty Trust dividends. Estimated to be 4.14% next year.
If you bought €2,000 of Acadia Realty Trust shares you are expected to receive €79 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Acadia Realty Trust's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • Acadia Realty Trust's dividend is above the markets top 25% of dividend payers in Germany (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:WX1 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Europe REITs Industry Average Dividend Yield Market Cap Weighted Average of 119 Stocks 4.9%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:WX1 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.22 1.00
2020-12-31 1.19 4.00
2019-12-31 1.13 4.00
DB:WX1 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-28 1.120 4.058
2018-11-15 1.120 4.110
2018-08-07 1.080 3.859
2018-05-11 1.080 4.079
2018-02-27 1.080 4.467
2017-11-08 1.080 4.151
2017-08-09 1.190 4.085
2017-05-11 1.190 4.227
2017-03-03 1.190 3.951
2016-11-10 1.190 3.666
2016-08-10 1.250 3.543
2016-05-09 1.250 3.548
2016-03-18 1.250 3.648
2015-11-11 1.250 3.785
2015-08-12 0.960 3.085
2015-05-27 0.960 3.101
2015-03-10 0.960 2.925
2014-11-06 0.960 2.869
2014-08-06 0.920 3.193
2014-05-14 0.920 3.276
2014-03-10 0.920 3.453
2013-11-04 0.920 3.577
2013-08-06 0.840 3.364
2013-05-16 0.840 3.247
2013-02-25 0.840 3.003
2012-11-13 0.720 2.811
2012-08-15 0.720 2.873
2012-06-07 0.720 3.082
2012-03-21 0.720 3.195
2011-12-06 0.720 3.467
2011-08-10 0.720 3.655
2011-06-21 0.720 3.493
2011-03-17 0.720 3.641
2010-12-02 0.720 3.880
2010-08-26 0.720 3.775
2010-05-10 0.720 4.052
2010-03-04 0.720 3.955
2009-12-21 0.720 4.350
2009-11-06 1.270 7.701
2009-10-29 1.270 7.969
2009-09-15 0.720 4.716
2009-05-15 0.720 5.232
2009-04-24 0.840 6.181

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Acadia Realty Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (104.7x coverage).
X
Income/ dividend checks
We assess Acadia Realty Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Acadia Realty Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Acadia Realty Trust has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

WX1 Management

 What is the CEO of Acadia Realty Trust's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Kenneth Bernstein
COMPENSATION $5,127,625
AGE 57
TENURE AS CEO 18.3 years
CEO Bio

Mr. Kenneth F. Bernstein J.D., has been the chief executive officer of Acadia Realty Trust since 2001 and the president and a trustee since its formation in 1998. Mr. Bernstein serves as a Director of Golub Capital BDC 3, Inc. Mr. Bernstein is responsible for strategic planning as well as overseeing the day-to-day activities of Acadia Realty Trust including operations, acquisitions and capital markets. He was an independent trustee of BRT Apartments Corp. from 2004 to 2016. From 1990 to 1998, he served as chief operating officer of RD Capital, Inc. until its merger into Acadia Realty Trust. He was an associate with the New York law firm of Battle Fowler LLP, from 1986 to 1990. Mr. Bernstein has been a member of the board of directors of GCIC since November 2014 and a member of the board of directors of GBDC 3 since August 2017. Mr. Bernstein was also the founding chairman of the Young President’ Organization Real Estate Network and is currently a member of its board of advisors. He has been a member of the National Association of Corporate Directors, International Council of Shopping Centers, the National Association of Real Estate Investment Trusts, for which he serves on the Board of Governors, the Urban Land Institute and the Real Estate Roundtable. He has been a member of the Board of Trustees of Golub Capital BDC, Inc. 2010. Mr. Bernstein received his BA from the University of Vermont and his JD from Boston University School of Law.

CEO Compensation
  • Kenneth's compensation has been consistent with company performance over the past year.
  • Kenneth's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Acadia Realty Trust management team in years:

4.9
Average Tenure
55
Average Age
  • The tenure for the Acadia Realty Trust management team is about average.
Management Team

Kenneth Bernstein

TITLE
President
COMPENSATION
$5M
AGE
57
TENURE
18.3 yrs

John Gottfried

TITLE
Senior VP & CFO
COMPENSATION
$1M
AGE
46
TENURE
2.8 yrs

Chris Conlon

TITLE
Executive VP & COO
COMPENSATION
$2M
AGE
58
TENURE
7.3 yrs

Joseph Napolitano

TITLE
Chief Administrative Officer & Senior VP
COMPENSATION
$1M
AGE
53
TENURE
12 yrs

Richard Hartmann

TITLE
Chief Accounting Officer & Senior VP

Amy Racanello

TITLE
Senior VP of Capital Markets & Investments

Jason Blacksberg

TITLE
Chief Compliance Officer
COMPENSATION
$1M
AGE
42
TENURE
4.9 yrs

John Swagerty

TITLE
Senior Vice President of Development
TENURE
3.3 yrs

Estelle Nikolopoulos

TITLE
Vice President of Human Resources
TENURE
0.3 yrs

Mike Nelsen

TITLE
Senior Vice President of Accounting & Financial Principal
COMPENSATION
$1M
AGE
71
Board of Directors Tenure

Average tenure and age of the Acadia Realty Trust board of directors in years:

15.1
Average Tenure
67
Average Age
  • The average tenure for the Acadia Realty Trust board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Kenneth Bernstein

TITLE
President
COMPENSATION
$5M
AGE
57
TENURE
15.8 yrs

Larry Kellar

TITLE
COMPENSATION
$200K
AGE
81
TENURE
15.4 yrs

Doug Crocker

TITLE
COMPENSATION
$173K
AGE
78
TENURE
15.4 yrs

Wendy Luscombe

TITLE
Independent Trustee
COMPENSATION
$165K
AGE
67
TENURE
14.9 yrs

Bill Spitz

TITLE
COMPENSATION
$165K
AGE
66
TENURE
11.7 yrs

Lee Wielansky

TITLE
Independent Lead Trustee
COMPENSATION
$262K
AGE
67
TENURE
15.3 yrs

C. Zoba

TITLE
COMPENSATION
$174K
AGE
66
TENURE
3.7 yrs

Lynn Thurber

TITLE
Independent Trustee
COMPENSATION
$161K
AGE
71
TENURE
3.1 yrs
Who owns this company?
Recent Insider Trading
  • Acadia Realty Trust insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
05. Mar 19 Sell Christopher Conlon Individual 01. Mar 19 05. Mar 19 -10,000 €24.97 €-248,331
15. Feb 19 Sell Richard Hartmann Individual 15. Feb 19 15. Feb 19 -168 €26.01 €-4,369
05. Nov 18 Sell Wendy Luscombe Individual 01. Nov 18 01. Nov 18 -4,500 €24.58 €-110,590
31. Oct 18 Sell Richard Hartmann Individual 29. Oct 18 29. Oct 18 -276 €24.91 €-6,874
13. Sep 18 Sell Wendy Luscombe Individual 12. Sep 18 12. Sep 18 -699 €24.50 €-17,129
30. Aug 18 Sell Richard Hartmann Individual 28. Aug 18 28. Aug 18 -2,203 €24.34 €-53,611
21. Aug 18 Sell Wendy Luscombe Individual 17. Aug 18 17. Aug 18 -2,204 €24.64 €-54,304
18. Jun 18 Sell Christopher Conlon Individual 15. Jun 18 15. Jun 18 -9,200 €23.72 €-218,242
X
Management checks
We assess Acadia Realty Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Acadia Realty Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

WX1 News

Simply Wall St News

WX1 Company Info

Description

Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual - Core 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 urban and street-retail corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet.

Details
Name: Acadia Realty Trust
WX1
Exchange: DB
Founded: 1964
$2,123,951,609
$2,041,674,353
85,953,210
Website: http://www.acadiarealty.com
Address: Acadia Realty Trust
411 Theodore Fremd Avenue,
Suite 300,
Rye,
New York, 10580,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE AKR Common Shares New York Stock Exchange US USD 13. Aug 1998
DB WX1 Common Shares Deutsche Boerse AG DE EUR 13. Aug 1998
Number of employees
Current staff
Staff numbers
112
Acadia Realty Trust employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 21:01
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/15
Last earnings filing: 2019/02/19
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.