NYSE:AKR

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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.


Snowflake Analysis

Fair value with worrying balance sheet.


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's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

2.9%

AKR

5.5%

US REITs

2.7%

US Market


1 Year Return

-57.1%

AKR

-9.8%

US REITs

9.1%

US Market

Return vs Industry: AKR underperformed the US REITs industry which returned -9.8% over the past year.

Return vs Market: AKR underperformed the US Market which returned 9.1% over the past year.


Shareholder returns

AKRIndustryMarket
7 Day2.9%5.5%2.7%
30 Day-5.3%1.0%4.5%
90 Day-48.6%-10.5%2.3%
1 Year-54.8%-57.1%-6.0%-9.8%11.5%9.1%
3 Year-51.0%-57.1%10.3%-3.4%30.6%22.0%
5 Year-52.4%-61.3%40.2%11.2%57.2%39.5%

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

Valuation

Is Acadia Realty Trust undervalued compared to its fair value and its price relative to the market?

41.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: AKR ($11.73) is trading below our estimate of fair value ($20.16)

Significantly Below Fair Value: AKR is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: AKR is poor value based on its PE Ratio (31.3x) compared to the REITs industry average (27.4x).

PE vs Market: AKR is poor value based on its PE Ratio (31.3x) compared to the US market (15.9x).


Price to Earnings Growth Ratio

PEG Ratio: AKR's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: AKR is good value based on its PB Ratio (0.7x) compared to the US REITs industry average (1.4x).


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?

-61.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AKR's earnings are forecast to decline over the next 3 years (-61.2% per year).

Earnings vs Market: AKR's earnings are forecast to decline over the next 3 years (-61.2% per year).

High Growth Earnings: AKR's earnings are forecast to decline over the next 3 years.

Revenue vs Market: AKR's revenue (5.6% per year) is forecast to grow slower than the US market (8.8% per year).

High Growth Revenue: AKR's revenue (5.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if AKR's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

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

-14.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AKR has a large one-off loss of $27.8M impacting its March 31 2020 financial results.

Growing Profit Margin: AKR's current net profit margins (10.6%) are lower than last year (12.7%).


Past Earnings Growth Analysis

Earnings Trend: AKR's earnings have declined by -14.6% 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 (-10.7%) over the past year, making it difficult to compare to the REITs industry average (5.3%).


Return on Equity

High ROE: AKR's Return on Equity (-2.1%) is considered low.


Next Steps

Financial Health

How is Acadia Realty Trust's financial position?


Financial Position Analysis

Short Term Liabilities: AKR's short term assets ($365.5M) exceed its short term liabilities ($107.0M).

Long Term Liabilities: AKR's short term assets ($365.5M) do not cover its long term liabilities ($2.2B).


Debt to Equity History and Analysis

Debt Level: AKR's debt to equity ratio (96%) is considered high.

Reducing Debt: AKR's debt to equity ratio has increased from 90.9% to 96% over the past 5 years.

Debt Coverage: AKR's debt is not well covered by operating cash flow (7%).

Interest Coverage: AKR's interest payments on its debt are not well covered by EBIT (0.7x coverage).


Balance Sheet


Next Steps

Dividend

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

8.99%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate AKR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate AKR's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if AKR's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if AKR's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: AKR is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of AKR's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

8.3yrs

Average management tenure


CEO

Ken Bernstein (58yo)

19.33yrs

Tenure

US$5,731,114

Compensation

Mr. Kenneth F. Bernstein, J.D., also known as Ken, 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 a ...


CEO Compensation Analysis

Compensation vs Market: Ken's total compensation ($USD5.73M) is above average for companies of similar size in the US market ($USD3.20M).

Compensation vs Earnings: Ken's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Kenneth Bernstein
President19.33yrsUS$5.73m0.41% $4.4m
John Gottfried
Senior VP & CFO3.92yrsUS$1.99mno data
Christopher Conlon
Executive VP & COO8.33yrsUS$2.38m0.012% $124.4k
Joseph Napolitano
Chief Administrative Officer & Senior VP13.08yrsUS$1.14m0.00014% $1.5k
Jason Blacksberg
Chief Compliance Officer6yrsUS$1.12mno data
Richard Hartmann
Chief Accounting Officer & Senior VPno datano datano data
Amy Racanello
Senior VP of Capital Markets & Investmentsno datano datano data
Estelle Nikolopoulos
Vice President of Human Resources1.33yrsno datano data
Michael Nelsen
Senior Vice President of Accounting & Financial Principalno dataUS$1.06mno data
Joseph Hogan
Senior VP & Director of Construction21.33yrsUS$477.86kno data

8.3yrs

Average Tenure

58yo

Average Age

Experienced Management: AKR's management team is seasoned and experienced (8.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Kenneth Bernstein
President19.33yrsUS$5.73m0.41% $4.4m
Douglas Crocker
Independent Trustee16.5yrsUS$203.66k0.074% $795.8k
Lorrence Kellar
Independent Trustee16.5yrsUS$236.02k0.046% $495.6k
Lee Wielansky
Independent Lead Trustee16.33yrsUS$289.69k0.062% $666.5k
Lynn Thurber
Independent Trustee4.17yrsUS$192.76k0.036% $389.2k
Wendy Luscombe
Independent Trustee16yrsUS$195.92k0.050% $534.0k
C. Zoba
Independent Trustee4.75yrsUS$209.22k0.0037% $39.7k
William Spitz
Independent Trustee12.75yrsUS$195.92k0.068% $730.2k

16.2yrs

Average Tenure

68yo

Average Age

Experienced Board: AKR's board of directors are seasoned and experienced ( 16.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: AKR insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 6%.


Top Shareholders

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$1.071b
  • Market Cap: US$1.010b
  • Shares outstanding: 91.26m
  • 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AKRNYSE (New York Stock Exchange)YesCommon SharesUSUSDAug 1998
WX1DB (Deutsche Boerse AG)YesCommon SharesDEEURAug 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 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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/30 09:16
End of Day Share Price2020/05/29 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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.