AKR NYSE Earnings call
Acadia Realty Trust (AKR) · Q2 2026 results and valuation
Share price: $20.14 · 2026-11-11
Results Q2 2026 vs Q1 2026 · previous quarter · published 29 Jul 2026 and 29 Apr 2026
Net income down 83.6% on the previous quarter. Management sounded upbeat, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
−83.6%
Net income vs Q1 2026
Outlook given
Net income 22.8M vs 139.1M
Revenue −7.3%
2 · How management spoke
Upbeat
More upbeat than 67% of company calls
Answers to analysts: typical, in line with the script.
Similar to last call.
3 · What stood out
Figure
AKR aims to hit $1 billion by year end, nearly doubling its street, using its current pipeline to fuel expansion.
Valuation
Is Acadia Realty Trust undervalued?
Reverse DCF on net income from the last full fiscal year (no meaningful free cash flow: a bank, insurer or a year of negative cash flow) (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
The projected cash flow doesn't cover the debt, so the price is far above the model's fair value.
Current price
$20.14
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+43.9% for 10 yrs
Fair value / share
$-9.17
Buy below
$-6.88
Price vs fair value
n/a
Price vs buy-below price
n/a
Read between the lines
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Key theme
The report notes that declining traditional wholesale channels and the rise of DTC retail have contributed to the current supply demand dynamic on North 6th street.
Source quote
“The first being the current supply demand dynamic on our streets, vacancy rates in markets like Madison Avenue, Green Street... As far as what is driving that demand, there are several factors at play. As far as tenant demand, the decline of traditional wholesale channels coupled with the recognized benefits of DTC retail, has given rise to the deepest pool...”
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Guidance
AKR expects to exceed its current pace of closing $100 million a quarter of street retail throughout 2026.
Source quote
“We have built a platform that routinely closes $100 million a quarter of street retail and we expect to exceed that pace for 2026 And John has raised...”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“So in summary, we had an outstanding quarter, achieved record leasing volumes, better than expected operating metrics, and a balance sheet that has ample capacity to support the discipline execution...”
“The combination of superior contractual growth more frequent mark to market opportunities means our street retail portfolio is positioned to generate 200 to 300 basis points of incremental same store...”
“And even with the record volumes we have achieved during the second quarter, the pipeline of prospective leases in advanced negotiation remains strong.”
Full figures
USD · SEC EDGAR XBRL (10-Q, period end 2026-06-30)
| Metric | Q2 2026period end 2026-06-30 | Q1 2026period end 2026-03-31 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 95.4M | 103.0M | −7.3% | 100.6M | −5.1% |
| Operating income | 22.7M | 158.5M | −85.7% | 760.0K | +2883.4% |
| Net income | 22.8M | 139.1M | −83.6% | -20.9M | Turned profit |
| EPS | 0.05 | 0.22 | −77.3% | 0.01 | +400.0% |
| P/E today 52.6 | 59.7 | 61.7 | −2.0 | 109.2 | −49.5 |
Topics
Most discussed now
- As outlined in its release, Acadia Realty Trust delivered $0.31 of FFO.
- Where Acadia Realty Trust will see the highest contractual growth at 3% per annum as well as more frequent opportunities to…
- Even with the record volumes Acadia Realty Trust has achieved during the second quarter, the pipeline of prospective leases in advanced…
- Specifically, Acadia Realty Trust's recent activity included 4 and 28 Newberry Street in Boston, These assets are anchored by Chanel and…
- In Acadia Realty Trust's scaled corridors, the growth was even more pronounced.
Faded since Q1 2026
- Fading As Ken articulated, because of the historically strong supply-demand dynamic and the resilient high-income consumer that shops Acadia…
- Fading The Street is 1 of the most irreplaceable luxury retail corridors in the country and it has all the ingredients...
- Fading Acadia Realty Trust has closed over $1 billion in acquisitions and recapitalizations, gained footholds on 2 of the country's premier luxury…
- Fading Its internal growth is accelerating, and Acadia Realty Trust is achieving its external growth goals on both accretion and volume.
Latest announcements
Official filings, newest first.
- Results of operations · SEC 8-K
- Other events · SEC 8-K
- Results of operations; Shareholder vote results · SEC 8-K
- Results of operations · SEC 8-K
- Material agreement; New financial obligation · SEC 8-K
- Results of operations · SEC 8-K
- Director or officer change · SEC 8-K
- Director or officer change; Regulation FD disclosure · SEC 8-K