For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Acadia Realty Trust (AKR) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Finance sector should help us answer this question.Acadia Realty Trust is a member of our Finance group, which includes 871 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank gauges th ...

buzbuzzer The current environment appears to be very favorable to real estate investment trusts, or REITs, and Shopping Center REITs in particular. REIT prices and yields have normalized, following the sell-off of 2022 and most of 2023, and the expected cuts in the prime rate, with the corresponding drop in treasury yields, will only help REITs further. The average REIT yield of 3.40% is nearly on par with the 10-year treasury yield of 3.85%, so REITs with higher-than-average yield or better-than-averag ...

ferrantraite/E+ via Getty ImagesIntroduction Acadia Realty Trust (NYSE:AKR) has significantly outperformed the Vanguard Real Estate Index Fund ETF (VNQ) so far in 2024, delivering a ~28.5% total return against the mid-single-digit gain for the benchmark ETF: AKR vs VNQ in 2024 (Seeking Alpha)This has resulted in net debt only accounting for 35% of the company's enterprise value. Coupled with a small proportion of floating-rate debt relative to peers, the company will see little tailwinds from Fed rate c ...

Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Acadia Realty Trust (AKR) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.Acadia Realty Trust is one of 860 companies in the Finance group. The Finance group currently sits ...

Acadia Realty Trust (NYSE:AKR) Q2 2024 Earnings Conference Call July 31, 2024 11:00 AM ET Company Participants Ethan Gomez - Acquisitions Intern Ken Bernstein - President & Chief Executive Officer A.J. Levine - Senior Vice President, Leasing & Development John Gottfried - Executive Vice President, Chief Financial Officer Conference Call Participants Andrew Reale - Bank of America Linda Tsai - Jefferies Todd Thomas - KeyBanc Craig Mailman - Citi Michael Mueller - JPMorgan Ki Bin Kim - Truist Paulina Rojas-Sc ...

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-12002 ACADIA REALTY TRUST (Exact name of registrant in its charter) MARYLAND (State or other jurisdiction of incorporation or organization) 411 THEODORE F ...

Acadia Realty Trust (AKR) came out with quarterly funds from operations (FFO) of $0.31 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.36 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this real estate investment trust would post FFO of $0.30 per share when it actually produced FFO of $0.33, delivering a surprise of 10%.Over the last four quarters, the company has surpassed consensus FFO estimates just once.Acadia ...

Financial Performance - Total revenues for Q2 2024 were $87.254 million, a year-to-date total of $178.610 million[12] - Rental income for Q2 2024 was $85.626 million, contributing to a year-to-date total of $171.663 million[12] - Net income attributable to Acadia for Q2 2024 was $1.443 million, with a year-to-date net income of $4.712 million[12] - Total expenses for Q2 2024 were $70.222 million, resulting in an operating income of $17.789 million[12] - The company reported a net operating income from properties of $58.623 million for Q2 2024[15] - Total revenues for the quarter ended June 30, 2024, were $17.3 million, a decrease of 46.2% compared to the previous year, which reported $36.2 million[18] - Net operating income from properties was $11.2 million for the quarter, down from $23.6 million year-over-year, reflecting a decline of 52.6%[18] - Total expenses for the quarter were $6.1 million, a decrease of 49.1% from $12.6 million in the same quarter last year[18] - The net income attributable to Acadia for the quarter was $4.5 million, compared to a loss of $139,000 in the previous quarter[18] - Funds from operations (FFO) for the quarter ended June 30, 2024, were $28,489,000, a decrease of 25.5% from $38,221,000 in the same quarter of 2023[26] - Adjusted funds from operations (AFFO) for the quarter ended June 30, 2024, were $31,606,000, compared to $25,329,000 for the same period in 2023, representing an increase of 24.9%[26] - EBITDA for the quarter ended June 30, 2024, was $49,406,000, compared to $53,417,000 for the same period in 2023, indicating a decrease of 7.5%[30] - FFO per common share for the quarter ended June 30, 2024, was $0.25, down from $0.37 in the same quarter of 2023, a decline of 32.4%[26] Market Capitalization and Debt - The total market capitalization as of June 30, 2024, was $3.279 billion[8] - The company’s total debt capitalization was $1.302 billion, representing 40% of total market capitalization[8] - The company’s total assets as of June 30, 2024, amounted to $4.25 billion, with real estate assets valued at $3.55 billion[20] - Total liabilities were reported at $1.97 billion, with mortgage and other notes payable at $955.1 million[20] - The company’s total debt includes $1,027,498,000 in fixed-rate debt and $1,30,000,000 in variable-rate debt[64] - The company’s net debt as of June 30, 2024, was $1,263,821,000, compared to $1,320,824,000 in the previous quarter[57] - The company has a debt of $1,027,498 million on a pro-rata basis[52] - The company’s fixed-rate debt has an average interest rate of 4.4% and a weighted average maturity of 3.6 years[64] - Variable-rate debt accounts for 43% of total debt, with an average interest rate of 5.0%[64] Portfolio and Occupancy - Acadia Realty Trust's core portfolio includes high-quality retail properties in dynamic retail corridors, with ongoing investment management activities targeting opportunistic investments[3] - The total Gross Leasable Area (GLA) for the properties listed is 576,799 square feet, with an overall in-place occupancy rate of 83.5%[85] - The total Gross Leasable Area (GLA) across the portfolio is 34,327,090 square feet, with an average Base Rent (ABR) of $128.14 per square foot[87] - The occupancy rate for the properties is 100% for several key locations, including 4401 White Plains Road and Bartow Avenue, contributing to stable rental income[87] - The total Gross Leasable Area (GLA) for suburban properties is 3,906,516 square feet with an in-place occupancy rate of 95.9%[91] - The core portfolio's total GLA is 5,282,079 square feet with an occupancy rate of 84.5%[91] - The total annualized base rent across all properties indicates a strong rental income stream, supporting future growth and investment strategies[89] Investment Management and Funds - The company reported a total of $8.6 million in investment management fee income year-to-date, reflecting a decrease from the previous year[18] - Fund I has a total size of $90.0 million, while Fund II is $472.0 million, Fund III is $502.5 million, Fund IV is $540.6 million, and Fund V is $520.0 million, totaling $2,125.1 million across all funds[110] - Cumulative contributions across all funds amount to $2,059.7 million, with Fund I contributing $86.6 million and Fund II contributing $559.4 million[110] - Cumulative net distributions total $1,314.8 million, with Fund III leading at $603.5 million and Fund IV at $221.4 million[110] - The net distributions to contributions ratio for Fund II is 30.9%, while Fund III shows a significant 134.7%[110] - Acadia's pro-rata share in Fund II is 61.7%, reflecting a substantial increase in ownership from 40%[112] Development and Redevelopment - The company has incurred total costs of $711.3 million for core development and redevelopment activities, with an estimated future range of costs of $9 million to $78.1 million[127] - The major redevelopment project at City Center in San Francisco is estimated to involve 241,000 SF and has incurred costs of $155 million to date[127] - The pre-stabilized project City Point in Brooklyn, NY, is expected to be completed in 2026 with a total area of 536,198 SF[127] Financial Metrics and Definitions - The company defines Funds from Operations (FFO) as net income excluding gains or losses from property sales, depreciation, and amortization, which is widely accepted in the REIT community[129] - Adjusted Funds from Operations (AFFO) is defined as FFO adjusted for straight-line rent, non-real estate depreciation, and other costs, providing a clearer picture of operating performance[130] - The company emphasizes that FFO, AFFO, and related metrics may differ from those used by other REITs, and should not be considered alternatives to net income[132] - The Company utilizes non-GAAP financial measures such as EBITDA, NOI, and same-property NOI to assist investors in analyzing performance[133]

Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Is Acadia Realty Trust (AKR) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.Acadia Realty Trust is one of 863 individual stocks in the Finance sector. Collectively, these companies sit at #10 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within th ...

Company Overview - J.P. Morgan Real Estate Income Trust, Inc. (JPMREIT) has acquired a 95% interest in Shops at Grand Avenue, a 99,837-square foot, fully leased, Class A grocery-anchored shopping center in Queens, NY for a total purchase price of $48 million, increasing its asset value to over $400 million [1] - This acquisition marks JPMREIT's first last-mile retail investment, focusing on properties in densely populated areas [1][2] Strategic Focus - The investment aligns with JPMREIT's "New Economy" strategy, which emphasizes a post-pandemic perspective on consumption, housing, and work [2] - The Shops at Grand Avenue is strategically located in a residential area with approximately one million residents within a three-mile radius, highlighting the importance of proximity to consumers in retail investments [1][2] Market Context - The neighborhood shopping center sector is experiencing growth, driven by resilient consumer behavior and the rising significance of service consumption [2] - JPMREIT's strategy targets assets in supply-constrained, densely populated areas, which are seen as valuable for last-mile retail opportunities [2]