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

Second-rate dividend payer with imperfect 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


Market Performance


7 Day Return

-0.9%

NYSE:AKR

0.3%

US REITs

-0.7%

US Market


1 Year Return

-2.0%

NYSE:AKR

8.2%

US REITs

-0.5%

US Market

AKR underperformed the REITs industry which returned 8.1% over the past year.

AKR underperformed the Market in United States of America which returned -0.4% over the past year.


Share holder returns

AKRIndustryMarket
7 Day-0.9%0.3%-0.7%
30 Day3.3%3.7%-3.0%
90 Day-1.3%4.0%0.9%
1 Year2.2%-2.0%13.0%8.2%1.7%-0.5%
3 Year-13.3%-23.1%24.7%8.4%39.5%30.4%
5 Year16.8%-4.1%58.7%25.0%54.1%37.0%

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 based on future cash flows and its price relative to the stock market?

9%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Acadia Realty Trust's share price is below the future cash flow value, but not at a moderate discount (< 20%).

Acadia Realty Trust's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

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

Acadia Realty Trust is poor value based on expected growth next year.


Price Based on Value of Assets

Acadia Realty Trust is good value based on assets compared to the US REITs industry average.


Next Steps

Future Growth

How is Acadia Realty Trust expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

7.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Acadia Realty Trust's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.

Acadia Realty Trust's earnings are expected to grow by 7.6% yearly, however this is not considered high growth (20% yearly).

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.

Acadia Realty Trust's earnings growth is positive but not above the United States of America market average.

Acadia Realty Trust's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Acadia Realty Trust is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


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

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.


Return on Equity

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.


Return on Assets

Acadia Realty Trust used its assets less efficiently than the US REITs industry average last year based on Return on Assets.


Return on Capital Employed

Acadia Realty Trust's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Acadia Realty Trust's financial position?


Financial Position Analysis

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.


Debt to Equity History and Analysis

Acadia Realty Trust's level of debt (82%) 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 (90.4% vs 82% today).

Debt is not well covered by operating cash flow (6.3%, 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).


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0.2x debt.


Next Steps

Dividend

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

4.22%

Expected Dividend Yield


Upcoming Dividend Payment

Purchase Acadia Realty Trust before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield and Payments Analysis

Acadia Realty Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).

Acadia Realty Trust's dividend is above the markets top 25% of dividend payers in United States of America (3.84%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have fallen over the past 10 years.


Current Payout to Shareholders

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.


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?

7.6yrs

Average management tenure


CEO

Kenneth Bernstein (58yo)

18.6yrs

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

Kenneth's remuneration is about average for companies of similar size in United States of America.

Kenneth's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

7.6yrs

Average Tenure

58yo

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.


Board Age and Tenure

15.4yrs

Average Tenure

68yo

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.


Insider Trading

Acadia Realty Trust individual insiders have only sold shares 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
SellUS$19,93513 Sep 18
Wendy Luscombe
EntityIndividual
Role
Member of the Board of Directors
Independent Trustee
Shares699
Max PriceUS$28.52
SellUS$62,81330 Aug 18
Richard Hartmann
EntityIndividual
Role
Chief Accounting Officer
Chief Accounting Officer & Senior VP
Shares2,203
Max PriceUS$28.51

Ownership Breakdown


Management Team

  • Kenneth Bernstein (58yo)

    President

    • Tenure: 18.6yrs
    • Compensation: US$5.13m
  • Mike Nelsen (72yo)

    Senior Vice President of Accounting & Financial Principal

    • Tenure: 0.0yrs
    • Compensation: US$1.06m
  • Joe Hogan (68yo)

    Senior VP & Director of Construction

    • Tenure: 20.6yrs
    • Compensation: US$477.86k
  • Joseph Napolitano (54yo)

    Chief Administrative Officer & Senior VP

    • Tenure: 12.3yrs
    • Compensation: US$1.11m
  • Chris Conlon (59yo)

    Executive VP & COO

    • Tenure: 7.6yrs
    • Compensation: US$1.85m
  • Richard Hartmann

    Chief Accounting Officer & Senior VP

    • Tenure: 0.0yrs
  • Amy Racanello

    Senior VP of Capital Markets & Investments

    • Tenure: 0.0yrs
  • Jason Blacksberg (43yo)

    Chief Compliance Officer

    • Tenure: 5.3yrs
    • Compensation: US$1.06m
  • John Gottfried (47yo)

    Senior VP & CFO

    • Tenure: 3.2yrs
    • Compensation: US$1.33m
  • Estelle Nikolopoulos

    Vice President of Human Resources

    • Tenure: 0.6yrs

Board Members

  • Doug Crocker (79yo)

    • Tenure: 15.8yrs
    • Compensation: US$173.31k
  • Larry Kellar (82yo)

    • Tenure: 15.8yrs
    • Compensation: US$200.41k
  • Lee Wielansky (68yo)

    Independent Lead Trustee

    • Tenure: 15.6yrs
    • Compensation: US$261.55k
  • Kenneth Bernstein (58yo)

    President

    • Tenure: 18.6yrs
    • Compensation: US$5.13m
  • Lynn Thurber (72yo)

    Independent Trustee

    • Tenure: 3.4yrs
    • Compensation: US$161.39k
  • Wendy Luscombe (68yo)

    Independent Trustee

    • Tenure: 15.3yrs
    • Compensation: US$165.04k
  • C. Zoba (67yo)

    • Tenure: 4.0yrs
    • Compensation: US$173.51k
  • Bill Spitz (67yo)

    • Tenure: 12.0yrs
    • 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$2.432b
  • Market Cap: US$2.339b
  • 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 Analysis2019/08/18 23:31
End of Day Share Price2019/08/16 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.