ACADIA REALTY TRUST AKR
Acadia Realty Trust (the "Trust", and collectively with its consolidated subsidiaries, the "Company", "Acadia", "we", "us" or "our") is a fully-integrated, Maryland-formed equity REIT focused on the ownership, acquisition, development, and management of high-quality retail properties located primarily in high-barrier-to-entry, supply-constrained, densely populated metropolitan areas in the United States. Acadia owns and operates a core real estate portfolio of street and open-air retail properties in the nation's most dynamic corridors ("REIT Portfolio"), along with an investment management platform that targets opportunistic and value-add investments through its institutional co-investment vehicles ("Investment Management").
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $410.8M | $359.7M | $338.7M | $326.3M | $292.5M | $250.9M | $289.6M | $259.7M | $248.6M | $189.9M |
| SG&A | $45.7M | $40.6M | $41.5M | $44.1M | $40.1M | $35.8M | $34.3M | $34.3M | $33.8M | $40.6M |
| Total operating expenses | $363.8M | $293.2M | $289.6M | $315.2M | $272.4M | $366.7M | $246.8M | $232.1M | $231.2M | $168.1M |
| Operating income | $49.4M | $65.7M | $49.1M | $68.2M | $30.7M | -$115.1M | $73.1M | $32.7M | $66.2M | $21.9M |
| Pre-tax income | -$39.6M | $8.4M | -$1.4M | -$65.2M | $26.1M | -$65.4M | $24.7M | -$14.8M | $65.3M | $52.5M |
| Income tax | $412.0K | $212.0K | $301.0K | $12.0K | $93.0K | $269.0K | $1.5M | $934.0K | $1.0M | $105.0K |
| Net income | $16.9M | $21.6M | $19.9M | -$65.3M | $26.0M | -$65.7M | $23.2M | -$15.7M | $64.3M | $134.6M |
| EPS, basic | 0.10 | 0.19 | 0.20 | -0.38 | 0.26 | -0.11 | — | — | — | 0.94 |
| EPS, diluted | 0.10 | 0.19 | 0.20 | -0.40 | 0.26 | -0.11 | 0.63 | 0.38 | 0.73 | 0.94 |
| Shares, diluted (wtd. avg.) | $128.7M | $108.3M | $95.3M | $94.6M | $87.7M | $86.4M | $84.4M | $82.1M | $83.7M | $76.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $38.8M | $16.8M | $17.5M | $17.2M | $17.7M | $18.7M | $14.1M | $20.1M | $74.8M | $71.8M |
| Other intangibles | $128.2M | $86.9M | $100.6M | $102.4M | $108.9M | $100.4M | $116.8M | $115.9M | $127.6M | $114.6M |
| Total assets | $4.84B | $4.37B | $4.29B | $4.30B | $4.26B | $4.13B | $4.25B | $3.96B | $3.96B | $4.00B |
| Long-term debt | $1.86B | $1.54B | $1.87B | $1.79B | $1.81B | $1.71B | $1.71B | $1.55B | $1.42B | $1.49B |
| Total liabilities | $2.21B | $1.84B | $2.16B | $2.05B | $2.11B | $2.08B | $2.12B | $1.88B | $1.74B | $1.82B |
| Retained earnings | -$500.7M | -$409.4M | -$349.1M | -$300.4M | -$196.6M | -$167.3M | -$133.0M | -$89.7M | -$32.0M | -$5.6M |
| Total equity | $2.23B | $2.07B | $2.08B | $2.18B | $2.15B | $2.05B | $2.19B | $2.08B | $2.22B | $2.18B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $167.0M | $140.4M | $155.8M | $133.2M | $105.0M | $103.9M | $131.4M | $96.1M | $114.7M | $109.8M |
| Depreciation and amortisation | $157.5M | $138.9M | $136.0M | $135.9M | $123.4M | $147.2M | $122.6M | $117.5M | $104.9M | $70.0M |
| Stock-based compensation | $11.6M | $12.8M | $12.8M | $11.1M | $12.4M | $10.9M | $10.0M | $12.9M | $11.2M | $13.7M |
| Capital expenditure | — | — | — | — | — | — | — | — | $108.1M | $149.4M |
| Investing cash flow | -$450.5M | -$170.7M | -$208.5M | -$124.2M | -$198.5M | -$100.9M | -$410.5M | -$136.6M | $4.1M | -$613.6M |
| Financing cash flow | $300.7M | $44.6M | $45.9M | -$4.4M | $91.3M | -$1.3M | $274.0M | -$10.3M | -$127.8M | $488.4M |
| Dividends paid | $101.3M | $76.3M | $68.6M | $64.6M | $39.5M | $50.2M | $93.9M | $88.9M | $99.5M | $91.3M |
| Buybacks | — | — | — | — | — | — | — | $55.1M | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-051677.
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