NYSE:AKR

Stock Analysis Report

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

Fundamentals

Average 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


Market Performance


7 Day Return

0.07%

AKR

0.1%

US REITs

2.3%

US Market


1 Year Return

4.1%

AKR

19.1%

US REITs

5.6%

US Market

Return vs Industry: AKR underperformed the US REITs industry which returned 19.1% over the past year.

Return vs Market: AKR underperformed the US Market which returned 5.6% over the past year.


Shareholder returns

AKRIndustryMarket
7 Day0.07%0.1%2.3%
30 Day0.9%0.8%-1.0%
90 Day6.2%5.3%-0.7%
1 Year8.6%4.1%24.4%19.1%7.9%5.6%
3 Year-7.5%-18.1%33.7%16.6%45.6%36.3%
5 Year17.3%-3.9%63.2%28.8%65.8%47.6%

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?

13.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: AKR ($28.67) is trading below our estimate of fair value ($33.2)

Significantly Undervalued: 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 (63.1x) compared to the REITs industry average (35.3x).

PE vs Market: AKR is poor value based on its PE Ratio (63.1x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

Low PEG Ratio: AKR is poor value based on its PEG Ratio (7.8x)


Price to Book Ratio

PB vs Industry: AKR is good value based on its PB Ratio (1.6x) 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?

8.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AKR's forecast earnings growth (8.1% per year) is above the savings rate (2.7%).

Earnings vs Market: AKR's earnings (8.1% per year) are forecast to grow slower than the US market (14.5% 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 (-2% per year).

High Growth Revenue: AKR's revenue is forecast to decline over the next 3 years (-2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

High 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?

-10.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: AKR's earnings have declined by -10.7% 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 (-23%) over the past year, making it difficult to compare to the REITs industry average (17%).


Return on Equity

High ROE: AKR's Return on Equity (-0.6%) is considered low.


Return on Assets

ROA vs Industry: AKR's Return on Assets is below or equal to the REITs industry average last year.


Return on Capital Employed

ROCE Improving: AKR's Return on Capital Employed has declined over the past 3 years.


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?

3.91%

Current Dividend Yield


Dividend Yield vs Market

company3.9%marketbottom25%1.5%markettop25%3.8%industryaverage3.7%forecastin3Years4.0%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: AKR's dividend (3.91%) is higher than the bottom 25% of dividend payers in the US market (1.46%).

High Dividend: AKR's dividend (3.91%) is in the top 25% of dividend payers in the US market (3.76%)

Stable Dividend: AKR's dividend payments have been volatile in the past 10 years.

Growing Dividend: AKR's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (71.2%), 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?

7.8yrs

Average management tenure


CEO

Kenneth Bernstein (58yo)

18.8yrs

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 ($USD5.13M) is about average for companies of similar size in the US market ($USD5.13M).

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


Management Age and Tenure

7.8yrs

Average Tenure

58yo

Average Age

Experienced Management: AKR's management team is seasoned and experienced (7.8 years average tenure).


Board Age and Tenure

15.6yrs

Average Tenure

68yo

Average Age

Experienced Board: AKR's board of directors are seasoned and experienced ( 15.6 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

SellUS$556,65210 Jun 19
Christopher Conlon
EntityIndividual
Role
Chief Operating Officer
Executive VP & COO
Shares20,000
Max PriceUS$27.83
SellUS$5,63602 May 19
Wendy Luscombe
EntityIndividual
Role
Member of the Board of Directors
Independent Trustee
Shares200
Max PriceUS$28.18
SellUS$280,60005 Mar 19
Christopher Conlon
EntityIndividual
Role
Chief Operating Officer
Executive VP & COO
Shares10,000
Max PriceUS$28.21
SellUS$4,92615 Feb 19
Richard Hartmann
EntityIndividual
Role
Chief Accounting Officer
Chief Accounting Officer & Senior VP
Shares168
Max PriceUS$29.32
SellUS$126,00005 Nov 18
Wendy Luscombe
EntityIndividual
Role
Member of the Board of Directors
Independent Trustee
Shares4,500
Max PriceUS$28.00
SellUS$7,82531 Oct 18
Richard Hartmann
EntityIndividual
Role
Chief Accounting Officer
Chief Accounting Officer & Senior VP
Shares276
Max PriceUS$28.35

Ownership Breakdown


Management Team

  • Kenneth Bernstein (58yo)

    President

    • Tenure: 18.8yrs
    • Compensation: US$5.13m
  • Mike Nelsen (72yo)

    Senior Vice President of Accounting & Financial Principal

    • Tenure: 0yrs
  • Joe Hogan (68yo)

    Senior VP & Director of Construction

    • Tenure: 20.8yrs
    • Compensation: US$169.38k
  • Joseph Napolitano (54yo)

    Chief Administrative Officer & Senior VP

    • Tenure: 12.5yrs
    • Compensation: US$1.11m
  • Chris Conlon (59yo)

    Executive VP & COO

    • Tenure: 7.8yrs
    • 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: 5.4yrs
    • Compensation: US$1.06m
  • John Gottfried (47yo)

    Senior VP & CFO

    • Tenure: 3.3yrs
    • Compensation: US$1.33m
  • Estelle Nikolopoulos

    Vice President of Human Resources

    • Tenure: 0.8yrs

Board Members

  • Doug Crocker (79yo)

    Independent Trustee

    • Tenure: 15.9yrs
    • Compensation: US$173.31k
  • Larry Kellar (82yo)

    Independent Trustee

    • Tenure: 15.9yrs
    • Compensation: US$200.41k
  • Lee Wielansky (68yo)

    Independent Lead Trustee

    • Tenure: 15.8yrs
    • Compensation: US$261.55k
  • Kenneth Bernstein (58yo)

    President

    • Tenure: 18.8yrs
    • Compensation: US$5.13m
  • Lynn Thurber (72yo)

    Independent Trustee

    • Tenure: 3.6yrs
    • Compensation: US$161.39k
  • Wendy Luscombe (68yo)

    Independent Trustee

    • Tenure: 15.4yrs
    • Compensation: US$165.04k
  • C. Zoba (67yo)

    Independent Trustee

    • Tenure: 4.2yrs
    • Compensation: US$173.51k
  • Bill Spitz (67yo)

    Independent Trustee

    • Tenure: 12.2yrs
    • 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$2.524b
  • Market Cap: US$2.421b
  • Shares outstanding: 87.78m
  • 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 inve ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/16 23:31
End of Day Share Price2019/10/16 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.