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Acadia Realty Trust

NYSE:AKR
Snowflake Description

Average dividend payer with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AKR
NYSE
$2B
Imp Market Cap
  1. Home
  2. US
  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 85 days ago. More info.


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AKR Share Price and Events
7 Day Returns
-3.3%
NYSE:AKR
-0.8%
US REITs
-0.3%
US Market
1 Year Returns
0.9%
NYSE:AKR
9.3%
US REITs
3.9%
US Market
AKR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Acadia Realty Trust (AKR) -3.3% -6.7% -4.4% 0.9% -27.6% -5.2%
US REITs -0.8% -1.9% 3.8% 9.3% 2.7% 23.5%
US Market -0.3% 2.3% 2.3% 3.9% 36.7% 41.8%
1 Year Return vs Industry and Market
  • AKR underperformed the REITs industry which returned 9.3% over the past year.
  • AKR underperformed the Market in United States of America which returned 3.9% over the past year.
Price Volatility
AKR
Industry
5yr Volatility vs Market

AKR 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.

NYSE:AKR 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 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

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 NYSE:AKR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.48
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.476 (1 + (1- 21%) (73.39%))
0.833
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.83
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.833 * 5.96%)
7.7%

Discounted Cash Flow Calculation for NYSE:AKR 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.

NYSE:AKR DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 7.7%)
2020 103.63 Analyst x2 96.22
2021 107.77 Est @ 3.99% 92.91
2022 111.66 Est @ 3.61% 89.39
2023 115.40 Est @ 3.35% 85.78
2024 119.05 Est @ 3.16% 82.17
2025 122.66 Est @ 3.03% 78.61
2026 126.27 Est @ 2.94% 75.14
2027 129.91 Est @ 2.88% 71.78
2028 133.59 Est @ 2.83% 68.54
2029 137.33 Est @ 2.8% 65.42
Present value of next 10 years cash flows $805.98
NYSE:AKR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $137.33 × (1 + 2.73%) ÷ (7.7% – 2.73%)
$2,840.27
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,840.27 ÷ (1 + 7.7%)10
$1,353.06
NYSE:AKR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $805.98 + $1,353.06
$2,159.03
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,159.03 / 86.10
$25.08
NYSE:AKR Discount to Share Price
Calculation Result
Value per share (USD) From above. $25.08
Current discount Discount to share price of $26.82
= -1 x ($26.82 - $25.08) / $25.08
-7%

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
NYSE:AKR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.44
NYSE:AKR Share Price ** NYSE (2019-07-19) in USD $26.82
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.05x
United States of America Market PE Ratio Median Figure of 3,083 Publicly-Listed Companies 17.92x

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

** Primary Listing of Acadia Realty Trust.

NYSE:AKR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 26.82 ÷ 0.44

61.01x

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 US REITs industry average.
  • Acadia Realty Trust is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Acadia Realty Trust's expected growth come at a high price?
Raw Data
NYSE:AKR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 61.01x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-1.4%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 1.77x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

NYSE:AKR PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 61.01x ÷ -1.4%

-44.75x

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

  • Acadia Realty Trust earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Acadia Realty Trust's assets?
Raw Data
NYSE:AKR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $17.72
NYSE:AKR Share Price * NYSE (2019-07-19) in USD $26.82
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.82x
United States of America Market PB Ratio Median Figure of 5,248 Publicly-Listed Companies 1.8x
NYSE:AKR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 26.82 ÷ 17.72

1.51x

* 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 good value based on assets compared to the US 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 1/6, 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.

AKR Future Performance

 How is Acadia Realty Trust expected to perform in the next 1 to 3 years based on estimates from 3 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
-1.4%
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 are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Acadia Realty Trust's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Acadia Realty Trust's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:AKR Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:AKR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -1.4%
NYSE:AKR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts -4.1%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 6%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*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
NYSE:AKR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:AKR Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31
2020-12-31 249 33 3
2019-12-31 238 31 3
NYSE:AKR Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 287 93 36
2018-12-31 275 96 31
2018-09-30 271 100 45
2018-06-30 271 100 49
2018-03-31 263 113 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

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Acadia Realty Trust's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • 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
NYSE:AKR 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 3 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.

NYSE:AKR Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 0.40 0.42 0.38 2.00
2019-12-31 0.36 0.37 0.36 2.00
NYSE:AKR Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.44
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

*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.
  • Unable to establish if Acadia Realty Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
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 United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America 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 0/6, 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.

AKR 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 US 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.

NYSE:AKR Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 286.96 35.93 34.20
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

*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 US 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.

AKR 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.

NYSE:AKR Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,106.35 1,616.55 31.29
2018-12-31 2,081.95 1,557.85 28.29
2018-09-30 2,123.80 1,482.09 24.64
2018-06-30 2,112.55 1,462.05 29.58
2018-03-31 2,164.67 1,456.52 49.30
2017-12-31 2,215.64 1,425.88 79.23
2017-09-30 2,169.79 1,606.32 50.92
2017-06-30 2,180.40 1,547.30 46.09
2017-03-31 2,196.49 1,504.91 51.09
2016-12-31 2,178.13 1,492.31 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
  • Acadia Realty Trust's level of debt (80.4%) 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 (98.2% vs 80.4% today).
  • Debt is not well covered by operating cash flow (5.5%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 0.8x 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.

AKR 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
4.18%
Current annual income from Acadia Realty Trust dividends. Estimated to be 4.34% next year.
If you bought $2,000 of Acadia Realty Trust shares you are expected to receive $84 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 United States of America (1.43%).
  • Acadia Realty Trust's dividend is above the markets top 25% of dividend payers in United States of America (3.74%).
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
NYSE:AKR 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 3 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 185 Stocks 3.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America 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.

NYSE:AKR Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.22 1.00
2020-12-31 1.18 4.00
2019-12-31 1.13 4.00
NYSE:AKR Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-09 1.120 4.014
2019-02-28 1.120 4.026
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
2009-03-09 0.840 6.977
2008-12-09 1.390 11.643
2008-08-15 0.840 4.710

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 (1.4x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
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 4/6, see the detailed checks below.


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

AKR 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 58
TENURE AS CEO 18.5 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, both up more than 20%.
  • Kenneth's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

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

7.5
Average Tenure
58
Average Age
  • The average tenure for the Acadia Realty Trust management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Kenneth Bernstein

TITLE
President
COMPENSATION
$5M
AGE
58
TENURE
18.5 yrs

John Gottfried

TITLE
Senior VP & CFO
COMPENSATION
$1M
AGE
47
TENURE
3.1 yrs

Chris Conlon

TITLE
Executive VP & COO
COMPENSATION
$2M
AGE
59
TENURE
7.5 yrs

Joseph Napolitano

TITLE
Chief Administrative Officer & Senior VP
COMPENSATION
$1M
AGE
54
TENURE
12.3 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
43
TENURE
5.2 yrs

Estelle Nikolopoulos

TITLE
Vice President of Human Resources
TENURE
0.5 yrs

Mike Nelsen

TITLE
Senior Vice President of Accounting & Financial Principal
COMPENSATION
$1M
AGE
72

Joe Hogan

TITLE
Senior VP & Director of Construction
COMPENSATION
$478K
AGE
68
TENURE
20.5 yrs
Board of Directors Tenure

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

15.3
Average Tenure
68
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
58
TENURE
16.1 yrs

Larry Kellar

TITLE
COMPENSATION
$200K
AGE
82
TENURE
15.7 yrs

Doug Crocker

TITLE
COMPENSATION
$173K
AGE
79
TENURE
15.7 yrs

Wendy Luscombe

TITLE
Independent Trustee
COMPENSATION
$165K
AGE
68
TENURE
15.2 yrs

Bill Spitz

TITLE
COMPENSATION
$165K
AGE
67
TENURE
11.9 yrs

Lee Wielansky

TITLE
Independent Lead Trustee
COMPENSATION
$262K
AGE
68
TENURE
15.5 yrs

C. Zoba

TITLE
COMPENSATION
$174K
AGE
67
TENURE
3.9 yrs

Lynn Thurber

TITLE
Independent Trustee
COMPENSATION
$161K
AGE
72
TENURE
3.3 yrs
Who owns this company?
Recent Insider Trading
  • Acadia Realty Trust individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
10. Jun 19 Sell Christopher Conlon Individual 06. Jun 19 06. Jun 19 -20,000 $27.83 $-556,652
02. May 19 Sell Wendy Luscombe Individual 01. May 19 01. May 19 -200 $28.18 $-5,636
05. Mar 19 Sell Christopher Conlon Individual 01. Mar 19 05. Mar 19 -10,000 $28.21 $-280,600
15. Feb 19 Sell Richard Hartmann Individual 15. Feb 19 15. Feb 19 -168 $29.32 $-4,926
05. Nov 18 Sell Wendy Luscombe Individual 01. Nov 18 01. Nov 18 -4,500 $28.00 $-126,000
31. Oct 18 Sell Richard Hartmann Individual 29. Oct 18 29. Oct 18 -276 $28.35 $-7,825
13. Sep 18 Sell Wendy Luscombe Individual 12. Sep 18 12. Sep 18 -699 $28.52 $-19,935
30. Aug 18 Sell Richard Hartmann Individual 28. Aug 18 28. Aug 18 -2,203 $28.51 $-62,813
21. Aug 18 Sell Wendy Luscombe Individual 17. Aug 18 17. Aug 18 -2,204 $28.12 $-61,976
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.

AKR News

Simply Wall St News

Does It Make Sense To Buy Acadia Realty Trust (NYSE:AKR) For Its Yield?

In this case, Acadia Realty Trust likely looks attractive to investors, given its 4.1% dividend yield and a payment history of over ten years. … As Acadia Realty Trust has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. … Acadia Realty Trust's is paying out more than half its income as dividends, but at least the dividend is covered by both reported earnings and cashflow.

Simply Wall St -

Should You Be Worried About Insider Transactions At Acadia Realty Trust (NYSE:AKR)?

So we'll take a look at whether insiders have been buying or selling shares in Acadia Realty Trust (NYSE:AKR). … For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year.' View our latest analysis for Acadia Realty Trust The Last 12 Months Of Insider Transactions At Acadia Realty Trust Over the last year, we can see that the biggest insider sale was by the Executive VP & COO, Christopher Conlon, for US$557k worth of shares, at about US$27.83 per share. … Acadia Realty Trust Insiders Are Selling The Stock The last quarter saw substantial insider selling of Acadia Realty Trust shares.

Simply Wall St -

Is Acadia Realty Trust (NYSE:AKR) Excessively Paying Its CEO?

At the time of writing our data says that Acadia Realty Trust has a market cap of US$2.5b, and is paying total annual CEO compensation of US$5.1m. … Given the total loss of 5.4% over three years, many shareholders in Acadia Realty Trust are probably rather dissatisfied, to say the least. … If you think CEO compensation levels are interesting you will probably really like this free visualization of insider trading at Acadia Realty Trust.

Simply Wall St -

One Metric To Rule Them All: Acadia Realty Trust (NYSE:AKR)

Acadia Realty Trust is a US$2.4b. … real estate investment trust (REIT) based in Rye, United States. … REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by management of that trust company.

Simply Wall St -

Who Has Been Selling Acadia Realty Trust (NYSE:AKR) Shares?

So before you buy or sell Acadia Realty Trust (NYSE:AKR), you may well want to know whether insiders have been buying or selling. … Acadia Realty Trust Insider Transactions Over The Last Year. … Over the last year we saw more insider selling of Acadia Realty Trust shares, than buying

Simply Wall St -

Should You Worry About Acadia Realty Trust's (NYSE:AKR) CEO Salary Level?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … Check out our latest analysis for Acadia Realty Trust … How Does Kenneth Bernstein's Compensation Compare With Similar Sized Companies?

Simply Wall St -

With A 0.7% Return On Equity, Is Acadia Realty Trust (NYSE:AKR) A Quality Stock?

To keep the lesson grounded in practicality, we'll use ROE to better understand Acadia Realty Trust (NYSE:AKR). … Over the last twelve months Acadia Realty Trust has recorded a ROE of 0.7%. … That means that for every $1 worth of shareholders' equity, it generated $0.0075 in profit.

Simply Wall St -

Should You Invest In Acadia Realty Trust (NYSE:AKR)?

Acadia Realty Trust is a US$2.4b. … real estate investment trust (REIT) based in Rye, United States. … REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by management of that trust company.

Simply Wall St -

How Should Investors React To Acadia Realty Trust's (NYSE:AKR) CEO Pay?

Kenneth Bernstein became the CEO of Acadia Realty Trust (NYSE:AKR) in 2001. … This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … According to our data, Acadia Realty Trust has a market capitalization of US$2.4b, and pays its CEO total annual compensation worth US$5m.

Simply Wall St -

Is Acadia Realty Trust (NYSE:AKR) A Healthy REIT?

Acadia Realty Trust is a US$2.26b. … real estate investment trust (REIT) based in Rye, United States. … View our latest analysis for Acadia Realty Trust

Simply Wall St -

AKR 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
AKR
Exchange: NYSE
Founded: 1964
$2,324,658,879
$2,219,860,208
86,098,477
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: 2019/07/19 23:31
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/07/16
Last earnings filing: 2019/04/25
Last earnings reported: 2019/03/31
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.