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Acadia Realty Trust

AKR Real Estate Reit Retail

Acadia Realty Trust’s revenue for fiscal 2025 (year ended December 2025) was $410.8 million, up 14.2% from fiscal 2024.

Revenue
−5.96%
EPS
−236.3%
Free cash flow
−369.8%
Total debt
−2.30%

Quarter to September 2026, against a year earlier

19.77 0.08 +0.41%
Market cap
$2.8B
P/E
73.2×
Fwd P/E
40.9×
Dividend yield
4.06%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 0.55
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — 1 — — — — — —
Insider Ownership 0.75%

Capital & Financial Ratios $m

Size
Market Cap 2,770.00
Revenue ttm 398.16
Net income ttm 159.86
Free cash flow ttm 437.76
Net debt Q 1,769.94
Valuation
P/E 73.24 (above 35: high)
Forward P/E 40.90 (above 35: high)
Price / sales 6.81
Forward P/S Powerpack
Price / FCF 6.20
Price / book 1.01
Financial health
Current ratio Q 1.23
Debt / equity Q 0.68
Interest coverage Q 0.51
Growth
Revenue growth Q −5.96% (below 0%: shrinking)
Operating income growth Q −19.39% (below 0%: shrinking)
EPS, this year +113.16% (at or above 15%: strong)
EPS, next year A −22.92% (below 0%: weak)
Revenue, next year A −6.17% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +22.70% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 11.3×, against a ten-year median of 11.7×; over the ten years it ranged from 8.9× in 2021 to 23.6× in 2016.
P/E against its own 10 years 66.40%
10-year low 10-year high
P/S against its own 10 years 47.49%
10-year low 10-year high
P/B against its own 10 years 59.37%
10-year low 10-year high
EV/Sales against its own 10 years 44.19%
10-year low 10-year high
EV/FCF against its own 10 years 10.81%
10-year low 10-year high

Dividends raised 2 years running

Yield
4.06%
Annual rate
0.80
Payout ratio
297.3%
Growth, 2017–25
−3.34%/yr
  1. 1.05 ’17
  2. 1.09 ’18 +4
  3. 1.13 ’19 +4
  4. 0.29 ’20 −74
  5. 0.60 ’21 +107
  6. 0.72 ’22 +20
  7. 0.72 ’23 +0
  8. 0.74 ’24 +3
  9. 0.80 ’25 +8
  10. 0.80 ’26e +0
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 25 40 57 49
Receivables 50 58 65 60
Inventory — — — —
Other — — — —
200 224 277 318
2023 2024 2025 Q'26
Payables 229 233 273 258
ST’ Debt — — — —
Other — — — —
229 233 273 258

Compound Annual Growth %

10y 5y 3y
Sales 7.51% 10.36% 7.98%
Cash Flow 3.93% 9.94% 7.82%
Earnings (12.58%) 0.00% 0.00%
Book Value 5.59% 5.03% 6.30%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.31 Actual 0.31

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.32 0.34 Beat by 0.02
Q1 FY26 0.30 0.30 Met by 0.00
Q2 FY26 0.30 0.31 Beat by 0.01
Q3 FY26 0.31 0.31 Met by 0.00
Q4 FY26 0.33 — Reports 9 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.22 0.05 (0.04) — —
’25 0.01 0.01 0.03 0.04 0.10
’24 0.03 0.02 0.07 0.07 0.19
’23 0.14 0.09 (0.02) (0.02) 0.20
’22 0.18 0.00 (0.61) 0.04 (0.40)
’21 0.06 0.04 0.13 0.03 0.26
’20 (0.10) 0.22 (0.10) (0.12) (0.10)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 103 95 95 — —
’25 104 101 101 105 411
’24 91 87 88 93 360
’23 82 90 81 86 339
’22 82 84 80 81 326
’21 68 73 72 79 292
’20 71 64 51 64 251
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 31 58 43 — —
’25 26 65 34 42 167
’24 26 32 45 38 140
’23 59 30 26 41 156
’22 27 38 36 33 133
’21 31 20 21 34 105
’20 28 31 23 21 104
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 470 (5) (91) — —
’25 (186) (68) 34 63 (157)
’24 13 103 (4) (44) 68
’23 47 12 7 (37) 29
’22 (16) (5) 74 62 115
’21 47 52 (27) (105) (34)
’20 9 22 15 21 67
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 190 249 260 290 251 292 326 339 360 411 398 +8.9% 385 432 488 +5.9%
Gross margin, % 73.74 69.46 69.10 69.53 60.93 66.20 68.76 67.97 68.85 69.93 69.87 (3.8) pt
EBT 53 65 (15) 25 (65) 26 (65) (1) 8 (40) 160 n/m
EBT margin, % 27.65 26.28 (5.69) 8.53 (26.08) 8.93 (19.99) (0.43) 2.32 (9.64) 40.21 (37.3) pt
Net income 135 64 (16) 23 (66) 26 (65) (2) 8 (40) 160 n/m
Per share, $
Per share, $ Revenue 2.49 2.97 3.16 3.43 2.90 3.34 3.45 3.55 3.32 3.19 2.89 +2.8%
Earnings 0.94 0.73 0.38 0.62 (0.10) 0.26 (0.38) 0.20 0.19 0.10 0.27 (22.0%)
Cash flow 1.44 1.37 1.17 1.56 1.20 1.20 1.41 1.63 1.30 1.30 1.27 (1.2%)
Capex (4.53) 0.72 (1.02) (3.79) (0.43) (1.58) (0.19) (1.33) (0.67) (2.52) 1.91 (6.3%)
Free cash flow (3.09) 2.09 0.15 (2.24) 0.78 (0.38) 1.22 0.31 0.63 (1.22) 3.18 (9.8%)
Book value 28.57 26.48 25.36 25.90 23.72 24.53 23.06 21.86 23.12 20.37 19.44 (3.7%)
Shares, m 76 84 82 84 86 88 95 95 108 129 133 +6.0%
Valuation, ×
Valuation, × P/E 33.98 38.54 62.53 41.82 0.00 83.96 0.00 90.42 130.38 228.22 73.24 71.0
P/S 13.09 9.34 7.51 7.56 4.89 6.54 4.20 4.83 7.27 6.43 6.81 7.2
P/B 1.14 1.05 0.94 1.00 0.60 0.89 0.63 0.79 1.05 1.01 1.01 0.9
EV/Sales 20.80 15.01 13.35 13.55 11.58 12.64 9.60 10.28 11.43 10.83 11.26 12.9
EV/FCF (16.78) 21.33 289.87 (20.77) 43.30 (109.96) 27.20 119.19 60.48 (28.26) 10.24 38.6
Cash, $m
Cash, $m Operating cash flow 110 115 96 131 104 105 133 156 140 167 174 +4.8%
Capex (345) 60 (84) (320) (37) (139) (18) (127) (72) (324) 263 (0.7%)
Free cash flow (235) 175 12 (189) 67 (34) 115 29 68 (157) 438 (4.4%)
Balance, $m
Balance, $m Working capital 206 81 (77) (111) (95) (11) 9 (30) (8) 3 60 (36.7%)
Net debt 1,464 1,409 1,516 1,735 1,678 1,785 1,761 1,845 1,498 1,806 1,770 +2.4%
Shareholders’ equity 2,178 2,216 2,082 2,187 2,050 2,150 2,181 2,083 2,502 2,620 2,676 +2.1%
Returns, %
Returns, % ROA 2.05 1.55 0.79 1.30 (0.21) 0.56 (0.83) 0.46 0.50 0.37 0.94 (1.7) pt
ROIC 0.38 1.14 0.57 1.16 (1.93) 0.49 1.08 0.78 1.03 0.70 2.98 +0.3 pt
ROE 3.89 2.80 1.46 2.52 (0.42) 1.12 (1.64) 0.93 0.94 0.66 1.71 (3.2) pt
People
People Employees 122 118 112 118 120 123 115 117 129 138 — +1.4%
Revenue/emp, $m 1.56 2.11 2.32 2.45 2.09 2.38 2.84 2.89 2.79 2.98 — +7.5%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Acadia Realty Trust vs peers in Reit Retail (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SKT Tanger Inc. $4.4B 34.5× 35.5× +11.15% (above 0%: growing) +7.41% (above 0%: growing) −86.16% (below 0%: shrinking) 70.92% 30.98% Compare
CURB Curbline Properties Corp. $3.6B 123× 124× +46.15% (above 0%: growing) −33.33% (below 0%: shrinking) +34.90% (above 0%: growing) 87.10% 19.31% Compare
UE Urban Edge Properties $2.8B 24.5× 38.3× −0.47% (below 0%: shrinking) +255.33% (above 0%: growing) −33.79% (below 0%: shrinking) 69.37% 31.85% Compare
AKR Acadia Realty Trust $2.8B 73.2× 40.9× −5.96% (below 0%: shrinking) n/m −369.83% (below 0%: shrinking) 72.23% 10.76%
FCPT Four Corners Property Trust, Inc. $2.6B 21.6× 20.4× +12.86% (above 0%: growing) −5.82% (below 0%: shrinking) +24.85% (above 0%: growing) 85.95% 55.51% Compare
IVT InvenTrust Properties Corp. $2.5B 85.4× 242× +16.99% (above 0%: growing) +211.25% (above 0%: growing) +118.86% (above 0%: growing) 72.94% 17.51% Compare
NTST NETSTREIT Corp. $2.4B 87.2× 55.6× +37.17% (above 0%: growing) +981.08% (above 0%: growing) −47.21% (below 0%: shrinking) 91.03% 35.20% Compare
GTY Getty Realty Corporation $1.9B 17.5× 18.3× +13.31% (above 0%: growing) 0.00% −1,107.74% (below 0%: shrinking) 95.96% 61.69% Compare
CBL CBL & Associates Properties, Inc. $1.5B 6.8× 15.6× +3.96% (above 0%: growing) +1,775.00% (above 0%: growing) +40.87% (above 0%: growing) 65.39% 30.53% Compare
Median of peers $2.5B 29.5× 36.9× +13.09% +109.33% −4.47% 79.45% 31.42%

All 26 Reit Retail stocks →

Pay and ownership Proxy statement filed 31 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 6.92m 2.36m 176.72
2024 6.24m 16.74m 199.76
2023 6.12m 9.29m 135.43
2022 6.15m (618.49k) 108.98
2021 5.65m 7.87m 158.29

Ownership

Directors and executive officers, together 3.11%
BlackRock, Inc. 16.95%
FMR LLC 14.70%
Cohen & Steers, Inc. 14.30%
The Vanguard Group, Inc. 10.02%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Acadia Realty Trust (AKR) Latest News

2 Nov

Impact 3 · · GuruFocus.com
Impact 3 · · The Motley Fool
Impact 3 · · Moby
Impact 3 · · The Motley Fool transcript
Impact 3 · · MarketBeat transcript
Impact 3 · · Business Wire

28 Oct

Impact 3 · · Zacks

19 Oct

Impact 3 · · Business Wire

19 Aug

Impact 3 · · credaily.com

29 Jul

Impact 3 · · MarketBeat

28 Jul

Impact 3 ·
Impact 3 ·

22 Jun

Impact 3 · · Insider Monkey

10 Jun

Impact 3 · · Business Wire

9 Jun

Impact 3 · · Business Wire

30 Apr

Impact 4 · · GuruFocus.com

29 Apr

Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby
Impact 3 · · MarketBeat

28 Apr

Impact 3 · · Associated Press
Impact 3 · · Business Wire

1 Mar

Impact 4 · · Insider Monkey

26 Feb

Impact 4 · · Business Wire

13 Feb

Impact 3 · · Simply Wall St.

11 Feb

Impact 4 · · GuruFocus.com transcript
Impact 4 · · MarketBeat transcript
Impact 4 · · Moby transcript
Impact 3 · · The Motley Fool transcript

10 Feb

Impact 4 · · Associated Press FinanceSimply Wall St.
Impact 4 · · Business Wire

AKR metrics, ten years each

stockrow.com/AKR · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com