Acadia Realty Trust Management

Management criteria checks 4/4

Acadia Realty Trust's CEO is Ken Bernstein, appointed in Aug 1998, has a tenure of 25.67 years. total yearly compensation is $6.12M, comprised of 13.9% salary and 86.1% bonuses, including company stock and options. directly owns 0.36% of the company’s shares, worth $6.79M. The average tenure of the management team and the board of directors is 9.1 years and 8.7 years respectively.

Key information

Ken Bernstein

Chief executive officer

US$6.1m

Total compensation

CEO salary percentage	13.9%
CEO tenure	25.7yrs
CEO ownership	0.4%
Management average tenure	9.1yrs
Board average tenure	8.7yrs

Recent management updates

Recent updates

Acadia Realty Trust: Safe 4.2% Dividend Yield From Street Retail, But I'm Not Buying

Apr 12

Acadia Realty Trust Q4 results beat estimates, co sees 2023 FFO in-line with consensus

Feb 14

Acadia Realty Trust declares $0.18 dividend

Jan 17

Acadia Realty revises 2022 guidance to exclude delayed Albertsons dividend

Jan 05

Acadia Realty Is Finally Cheap

Dec 23

Acadia Realty Trust declares $0.18 dividend

Nov 10

Acadia Realty Trust: Continued Strength In Urban Retail

Oct 06

Acadia Realty Trust declares $0.18 dividend

Aug 10

Acadia Realty Trust: A Vote Of Confidence On Urban Retail

Jul 29

CEO Compensation Analysis

How has Ken Bernstein's remuneration changed compared to Acadia Realty Trust's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	US$6m	US$850k	US$19m
Sep 30 2023	n/a	n/a	US$24m
Jun 30 2023	n/a	n/a	-US$30m
Mar 31 2023	n/a	n/a	-US$40m
Dec 31 2022	US$6m	US$850k	-US$36m
Sep 30 2022	n/a	n/a	-US$37m
Jun 30 2022	n/a	n/a	US$31m
Mar 31 2022	n/a	n/a	US$35m
Dec 31 2021	US$6m	US$700k	US$23m
Sep 30 2021	n/a	n/a	US$9m
Jun 30 2021	n/a	n/a	-US$12m
Mar 31 2021	n/a	n/a	US$4m
Dec 31 2020	US$5m	US$700k	-US$9m
Sep 30 2020	n/a	n/a	US$23m
Jun 30 2020	n/a	n/a	US$42m
Mar 31 2020	n/a	n/a	US$32m
Dec 31 2019	US$6m	US$700k	US$53m
Sep 30 2019	n/a	n/a	US$39m
Jun 30 2019	n/a	n/a	US$37m
Mar 31 2019	n/a	n/a	US$36m
Dec 31 2018	US$5m	US$612k	US$31m
Sep 30 2018	n/a	n/a	US$45m
Jun 30 2018	n/a	n/a	US$49m
Mar 31 2018	n/a	n/a	US$53m
Dec 31 2017	US$5m	US$612k	US$61m

Compensation vs Market: Ken's total compensation ($USD6.12M) is about average for companies of similar size in the US market ($USD5.55M).

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

CEO

Ken Bernstein (62 yo)

25.7yrs

Tenure

US$6,123,062

Compensation

Mr. Kenneth F. Bernstein, J.D. also known as Ken, serves as an Independent Director at Golub Capital BDC 4, Inc. since 2021. He serves as Independent Director at Golub Capital Direct Lending Unlevered Corp...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Kenneth Bernstein	President	25.7yrs	US$6.12m	0.36% $ 6.8m
John Gottfried	Executive VP & CFO	7.8yrs	US$1.98m	0.0095% $ 181.7k
Joseph Napolitano	Chief Administrative Officer & Senior VP	17yrs	US$1.36m	0.00011% $ 2.1k
Jason Blacksberg	Executive VP	9.9yrs	US$1.62m	no data
Reginald Livingston	Executive VP & Chief Investment Officer	1.2yrs	no data	0.0042% $ 80.2k
Richard Hartmann	Chief Accounting Officer & Senior VP	no data	no data	no data
Heather Moore	Senior VP of Leasing Operations & Chief Compliance Officer	1.2yrs	no data	no data
Lesley Valente	Vice President of Human Resources	no data	no data	no data
Michael Nelsen	Senior Vice President of Accounting & Financial Principal	no data	US$1.06m	no data
Joseph Hogan	Senior VP & Director of Construction	25.3yrs	US$477.86k	no data
Mark O'Connor	Senior Vice President of Property Management	8.3yrs	no data	no data
Nishant Sheth	Senior Analyst of Capital Markets & Investments	no data	no data	no data

9.1yrs

Average Tenure

60yo

Average Age

Experienced Management: AKR's management team is seasoned and experienced (9.1 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Kenneth Bernstein	President	25.7yrs	US$6.12m	0.36% $ 6.8m
Douglas Crocker	Independent Trustee	20.4yrs	US$202.93k	0.070% $ 1.3m
Lee Wielansky	Independent Lead Trustee	24.3yrs	US$313.16k	0.069% $ 1.3m
Lynn Thurber	Independent Trustee	8.1yrs	US$223.39k	0.055% $ 1.0m
C. Zoba	Independent Trustee	8.7yrs	US$235.72k	0.0047% $ 90.7k
William Spitz	Independent Trustee	16.7yrs	US$211.85k	0.068% $ 1.3m
Hope Woodhouse	Independent Director	1.3yrs	US$236.19k	0.00079% $ 15.1k
Mark Denien	Independent Trustee	1.5yrs	US$193.39k	no data
Kenneth McIntyre	Independent Trustee	3.1yrs	US$185.70k	0.0012% $ 23.1k

8.7yrs

Average Tenure

71yo

Average Age

Experienced Board: AKR's board of directors are considered experienced (8.7 years average tenure).

Acadia Realty Trust Management

Management criteria checks 4/4

Key information

Recent management updates

Insider exercised options and sold US$831k worth of stock

Acadia Realty Trust, Annual General Meeting, May 02, 2024

Acadia Realty Trust Promotes Reggie Livingston to Executive Vice President, Chief Investment Officer

Independent Trustee recently sold US$448k worth of stock

Independent Trustee notifies of intention to sell stock

Executive VP & CFO notifies of intention to sell stock

Recent updates

Acadia Realty Trust: Safe 4.2% Dividend Yield From Street Retail, But I'm Not Buying

Acadia Realty Trust to Report Q1, 2024 Results on Apr 29, 2024

Upcoming dividend of US$0.18 per share

New minor risk - Shareholder dilution

Insider exercised options and sold US$831k worth of stock

Fourth quarter dividend of US$0.18 announced

Acadia Realty Trust, Annual General Meeting, May 02, 2024

Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Acadia Realty Trust Provides Earnings Guidance for the Year 2024

Acadia Realty Trust Promotes Reggie Livingston to Executive Vice President, Chief Investment Officer

Price target increased by 7.1% to US$18.00

Price target increased by 8.3% to US$17.33

Acadia Realty Trust to Report Q4, 2023 Results on Feb 13, 2024

Acadia Realty Trust has completed a Follow-on Equity Offering in the amount of $100.5 million.

Upcoming dividend of US$0.18 per share at 4.3% yield

Independent Trustee recently sold US$448k worth of stock

Consensus revenue estimates decrease by 11%

Independent Trustee notifies of intention to sell stock

Executive VP & CFO notifies of intention to sell stock

Acadia Realty Trust: Navigating A Dynamic Market With A Strategic Portfolio

Now 22% undervalued after recent price drop

Acadia Realty Trust Announces Quarterly Dividend, Payable on January 12, 2024

Third quarter 2023 earnings released: FFO per share: US$0.3 (vs US$0.27 in 3Q 2022)

Acadia Realty Trust Revises Earnings Guidance for 2023

New major risk - Revenue and earnings growth

Acadia Realty Trust to Report Q3, 2023 Results on Oct 30, 2023

Upcoming dividend of US$0.18 per share at 4.7% yield

Now 21% undervalued

Now 21% undervalued

New major risk - Revenue and earnings growth

Acadia Realty Trust: 11% Discount And A Fully Covered 4.8% Yield

Acadia Realty Trust Announces Quarterly Dividend, Payable on October 13, 2023

Acadia Realty Trust Revises Earnings Guidance for the Year 2023

Second quarter 2023 earnings: EPS and revenues exceed analyst expectations

Acadia Realty Trust to Report Q2, 2023 Results on Aug 01, 2023

New major risk - Revenue and earnings growth

Upcoming dividend of US$0.18 per share at 5.1% yield

Insider exercised options and sold US$698k worth of stock

Acadia Realty Trust Declares Quarterly Dividend, Payable on July 14, 2023

Acadia Realty Trust Revises Earnings Guidance for the Full Year 2023

First quarter 2023 earnings: EPS and revenues exceed analyst expectations

Acadia Realty Trust: Fairly Valued Following Q4 Results

Full year 2022 earnings: EPS and revenues exceed analyst expectations

Acadia Realty Trust Provides Earning Guidance for 2023

Acadia Realty Trust Q4 results beat estimates, co sees 2023 FFO in-line with consensus

Acadia Realty Trust Announces Key Promotions and Changes to Management Teams

Acadia Realty Trust to Report Q4, 2022 Results on Feb 14, 2023

Acadia Realty Trust Announces Quarterly Dividend, Payable on April 14, 2023

Acadia Realty Trust declares $0.18 dividend

Acadia Realty Trust Announces Changes to its Board of Trustees

Consensus forecasts updated

Acadia Realty revises 2022 guidance to exclude delayed Albertsons dividend

Acadia Realty Is Finally Cheap

Upcoming dividend of US$0.18 per share

Acadia Realty Trust Declares a Cash Dividend for the Quarter Ended December 31, 2022, Payable on January 13, 2023

Acadia Realty Trust declares $0.18 dividend

Price target decreased to US$17.71

Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Acadia Realty Trust Revises Earnings Guidance for the Year 2022

Acadia Realty Trust to Report Q3, 2022 Results on Nov 01, 2022

Price target decreased to US$17.71

Acadia Realty Trust Announces Appointment of Mark Denien to Board of Trustees

Acadia Realty Trust: Continued Strength In Urban Retail

Investor sentiment deteriorated over the past week

Upcoming dividend of US$0.18 per share

An unknown buyer acquired Wake Forest Crossing in Wake Forest, North Carolina from Acadia Strategic Opportunity Fund IV, LLC, a fund managed by Acadia Realty Trust (NYSE:AKR) for approximately $39 million.

Consensus EPS estimates fall by 15%

Acadia Realty Trust Declares Cash Dividend for the Quarter Ended September 30, 2022, Payable on October 14, 2022

Acadia Realty Trust declares $0.18 dividend