Acadia Realty Trust
Market Cap
US$2.4b
Last Updated
2019/12/09 23:30 UTC
Data Sources
Company Financials +
Executive Summary
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.
Rewards
Risk Analysis
Snowflake Analysis
Established dividend payer and slightly overvalued.
Similar Companies
Share Price & News
How has Acadia Realty Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: AKR has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
0.6%
AKR
1.0%
US REITs
0.7%
US Market
1 Year Return
-5.1%
AKR
13.0%
US REITs
18.2%
US Market
Return vs Industry: AKR underperformed the US REITs industry which returned 13% over the past year.
Return vs Market: AKR underperformed the US Market which returned 18.2% over the past year.
Shareholder returns
| AKR | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.6% | 1.0% | 0.7% |
| 30 Day | -3.1% | 1.7% | 1.5% |
| 90 Day | -8.1% | 0.8% | 5.0% |
| 1 Year | -1.0%-5.1% | 17.8%13.0% | 20.8%18.2% |
| 3 Year | -10.6%-21.0% | 34.3%17.5% | 45.2%35.8% |
| 5 Year | 4.2%-14.6% | 58.3%25.6% | 71.6%52.7% |
Price Volatility Vs. Market
How volatile is Acadia Realty Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 weeks ago | Simply Wall St
If You Had Bought Acadia Realty Trust (NYSE:AKR) Stock Three Years Ago, You'd Be Sitting On A 16% Loss, Today1 month ago | Simply Wall St
Know This Before Buying Acadia Realty Trust (NYSE:AKR) For Its Dividend2 months ago | Simply Wall St
Acadia Realty Trust (NYSE:AKR) Insiders Have Been SellingValuation
Is Acadia Realty Trust undervalued compared to its fair value and its price relative to the market?
17.0%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: AKR ($26.56) is trading below our estimate of fair value ($31.99)
Significantly Below Fair Value: AKR is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: AKR is poor value based on its PE Ratio (57.1x) compared to the REITs industry average (38.8x).
PE vs Market: AKR is poor value based on its PE Ratio (57.1x) compared to the US market (18.5x).
Price to Earnings Growth Ratio
PEG Ratio: AKR is poor value based on its PEG Ratio (14x)
Price to Book Ratio
PB vs Industry: AKR is good value based on its PB Ratio (1.5x) compared to the US REITs industry average (2x).
Next Steps
Future Growth
How is Acadia Realty Trust forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
4.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: AKR's forecast earnings growth (4.1% per year) is above the savings rate (1.7%).
Earnings vs Market: AKR's earnings (4.1% per year) are forecast to grow slower than the US market (14.2% per year).
High Growth Earnings: AKR's earnings are forecast to grow, but not significantly.
Revenue vs Market: AKR's revenue is expected to decline over the next 3 years (-3% per year).
High Growth Revenue: AKR's revenue is forecast to decline over the next 3 years (-3% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: AKR's Return on Equity is forecast to be low in 3 years time (2.7%).
Next Steps
Past Performance
How has Acadia Realty Trust performed over the past 5 years?
-13.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: AKR has a large one-off gain of $9.5M impacting its September 30 2019 financial results.
Growing Profit Margin: AKR's current net profit margins (12.8%) are lower than last year (16.8%).
Past Earnings Growth Analysis
Earnings Trend: AKR's earnings have declined by -13.5% per year over the past 5 years.
Accelerating Growth: AKR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: AKR had negative earnings growth (-14%) over the past year, making it difficult to compare to the REITs industry average (8.3%).
Return on Equity
High ROE: AKR's Return on Equity (-0.01%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Acadia Realty Trust's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: AKR has a high level of physical assets or inventory.
Debt Coverage by Assets: AKR's debt is not covered by short term assets (assets are 0.2x debt).
Financial Institutions Analysis
Asset Level: AKR's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if AKR has a sufficient allowance for bad loans.
Low Risk Liabilities: AKR reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if AKR has an acceptable proportion of non-loan assets held.
Low Risk Deposits: AKR has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if AKR has an appropriate level of bad loans.
Next Steps
Dividend
What is Acadia Realty Trust's current dividend yield, its reliability and sustainability?
4.37%
Current Dividend Yield
Upcoming Dividend Payment
Purchase Acadia Realty Trust before the 'Buy Limit' to receive their next dividend payment.
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: AKR's dividend (4.37%) is higher than the bottom 25% of dividend payers in the US market (1.43%).
High Dividend: AKR's dividend (4.37%) is in the top 25% of dividend payers in the US market (3.7%)
Stability and Growth of Payments
Stable Dividend: AKR's dividend payments have been volatile in the past 10 years.
Growing Dividend: AKR's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (72%), AKR's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: AKR's dividends in 3 years are forecast to be thoroughly covered by earnings (0.9% payout ratio).
Next Steps
Management
What is the CEO of Acadia Realty Trust's salary, the management and board of directors tenure and is there insider trading?
7.9yrs
Average management tenure
CEO
Kenneth Bernstein (58yo)
18.9yrs
Tenure
US$5,127,625
Compensation
Mr. Kenneth F. Bernstein J.D., has been the chief executive officer of Acadia Realty Trust since 2001 and the president and a trustee since its formation in 1998. Mr. Bernstein serves as a Director of Golu ...
CEO Compensation Analysis
Compensation vs Market: Kenneth's total compensation ($USD5.13M) is above average for companies of similar size in the US market ($USD3.90M).
Compensation vs Earnings: Kenneth's compensation has been consistent with company performance over the past year.
Management Age and Tenure
7.9yrs
Average Tenure
58yo
Average Age
Experienced Management: AKR's management team is seasoned and experienced (7.9 years average tenure).
Board Age and Tenure
15.8yrs
Average Tenure
68yo
Average Age
Experienced Board: AKR's board of directors are seasoned and experienced ( 15.8 years average tenure).
Insider Trading
Insider Buying: AKR insiders have only sold shares in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Member of the Board of Directors Independent Trustee |
| Shares | 300 |
| Max Price | US$27.45 |
| Entity | Individual |
| Role | Chief Operating Officer Executive VP & COO |
| Shares | 20,000 |
| Max Price | US$27.83 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Trustee |
| Shares | 200 |
| Max Price | US$28.18 |
| Entity | Individual |
| Role | Chief Operating Officer Executive VP & COO |
| Shares | 10,000 |
| Max Price | US$28.21 |
| Entity | Individual |
| Role | Chief Accounting Officer Chief Accounting Officer & Senior VP |
| Shares | 168 |
| Max Price | US$29.32 |
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Management Team
Kenneth Bernstein (58yo)
President
- Tenure: 18.9yrs
- Compensation: US$5.13m
Mike Nelsen (72yo)
Senior Vice President of Accounting & Financial Principal
- Tenure: 0yrs
- Compensation: US$1.06m
Joe Hogan (68yo)
Senior VP & Director of Construction
- Tenure: 20.9yrs
- Compensation: US$477.86k
Joseph Napolitano (54yo)
Chief Administrative Officer & Senior VP
- Tenure: 12.7yrs
- Compensation: US$1.11m
Chris Conlon (59yo)
Executive VP & COO
- Tenure: 7.9yrs
- Compensation: US$1.85m
Richard Hartmann
Chief Accounting Officer & Senior VP
- Tenure: 0yrs
Amy Racanello
Senior VP of Capital Markets & Investments
- Tenure: 0yrs
Jason Blacksberg (43yo)
Chief Compliance Officer
- Tenure: 5.6yrs
- Compensation: US$1.06m
John Gottfried (47yo)
Senior VP & CFO
- Tenure: 3.5yrs
- Compensation: US$1.33m
Estelle Nikolopoulos
Vice President of Human Resources
- Tenure: 0.9yrs
Board Members
Doug Crocker (79yo)
Independent Trustee
- Tenure: 16.1yrs
- Compensation: US$173.31k
Larry Kellar (82yo)
Independent Trustee
- Tenure: 16.1yrs
- Compensation: US$200.41k
Lee Wielansky (68yo)
Independent Lead Trustee
- Tenure: 15.9yrs
- Compensation: US$261.55k
Kenneth Bernstein (58yo)
President
- Tenure: 18.9yrs
- Compensation: US$5.13m
Lynn Thurber (72yo)
Independent Trustee
- Tenure: 3.8yrs
- Compensation: US$161.39k
Wendy Luscombe (68yo)
Independent Trustee
- Tenure: 15.6yrs
- Compensation: US$165.04k
C. Zoba (67yo)
Independent Trustee
- Tenure: 4.3yrs
- Compensation: US$173.51k
Bill Spitz (67yo)
Independent Trustee
- Tenure: 12.3yrs
- Compensation: US$165.04k
Company Information
Acadia Realty Trust's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Acadia Realty Trust
- Ticker: AKR
- Exchange: NYSE
- Founded: 1964
- Industry: Retail REITs
- Sector: Real Estate
- Implied Market Cap: US$2.390b
- Market Cap: US$2.309b
- Shares outstanding: 90.28m
- Website: https://www.acadiarealty.com
Number of Employees
Location
- Acadia Realty Trust
- 411 Theodore Fremd Avenue
- Suite 300
- Rye
- New York
- 10580
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| AKR | NYSE (New York Stock Exchange) | Yes | Common Shares | US | USD | Aug 1998 |
| WX1 | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Aug 1998 |
Biography
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 inve ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/12/09 23:30 |
| End of Day Share Price | 2019/12/09 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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.