ACADIA REALTY TRUST (AKR) Stock Fundamental Analysis
NYSE:AKR - New York Stock Exchange, Inc. - US0042391096 - REIT - Currency: USD
AKR gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 130 industry peers in the Diversified REITs industry. There are concerns on the financial health of AKR while its profitability can be described as average. While showing a medium growth rate, AKR is valued expensive at the moment.
1. Profitability
1.1 Basic Checks
In the past year AKR was profitable.
AKR had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: AKR reported negative net income in multiple years.
AKR had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
The Return On Assets of AKR (0.40%) is comparable to the rest of the industry.
AKR's Return On Equity of 0.82% is in line compared to the rest of the industry. AKR outperforms 45.38% of its industry peers.
AKR's Return On Invested Capital of 1.29% is on the low side compared to the rest of the industry. AKR is outperformed by 83.08% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for AKR is below the industry average of 3.16%.
The last Return On Invested Capital (1.29%) for AKR is above the 3 year average (1.04%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.4% | ||
| ROE | 0.82% | ||
| ROIC | 1.29% |
ROA(3y)0.02%
ROA(5y)0.08%
ROE(3y)0%
ROE(5y)0.17%
ROIC(3y)1.04%
ROIC(5y)N/A
1.3 Margins
With a Profit Margin value of 5.03%, AKR perfoms like the industry average, outperforming 52.31% of the companies in the same industry.
AKR's Profit Margin has declined in the last couple of years.
The Operating Margin of AKR (20.05%) is comparable to the rest of the industry.
In the last couple of years the Operating Margin of AKR has grown nicely.
AKR has a Gross Margin of 70.29%. This is in the better half of the industry: AKR outperforms 62.31% of its industry peers.
AKR's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 20.05% | ||
| PM (TTM) | 5.03% | ||
| GM | 70.29% |
OM growth 3Y22.58%
OM growth 5Y4.29%
PM growth 3Y-10.1%
PM growth 5Y-20.93%
GM growth 3Y1.35%
GM growth 5Y-0.09%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so AKR is destroying value.
Compared to 1 year ago, AKR has more shares outstanding
The number of shares outstanding for AKR has been increased compared to 5 years ago.
AKR has a better debt/assets ratio than last year.
2.2 Solvency
AKR has an Altman-Z score of 0.63. This is a bad value and indicates that AKR is not financially healthy and even has some risk of bankruptcy.
AKR's Altman-Z score of 0.63 is in line compared to the rest of the industry. AKR outperforms 56.15% of its industry peers.
A Debt/Equity ratio of 0.72 indicates that AKR is somewhat dependend on debt financing.
AKR's Debt to Equity ratio of 0.72 is fine compared to the rest of the industry. AKR outperforms 75.38% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.72 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.63 |
ROIC/WACC0.17
WACC7.66%
2.3 Liquidity
A Current Ratio of 1.78 indicates that AKR should not have too much problems paying its short term obligations.
The Current ratio of AKR (1.78) is better than 74.62% of its industry peers.
A Quick Ratio of 0.89 indicates that AKR may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.89, AKR is in line with its industry, outperforming 49.23% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.78 | ||
| Quick Ratio | 0.89 |
3. Growth
3.1 Past
AKR shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 9857478864388542464.00%, which is quite impressive.
AKR shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -21.23% yearly.
The Revenue has been growing slightly by 7.04% in the past year.
Measured over the past years, AKR shows a small growth in Revenue. The Revenue has been growing by 4.43% on average per year.
EPS 1Y (TTM)9857478864388542000%
EPS 3Y-9.77%
EPS 5Y-21.23%
EPS Q2Q%-66.67%
Revenue 1Y (TTM)7.04%
Revenue growth 3Y7.14%
Revenue growth 5Y4.43%
Sales Q2Q%19.3%
3.2 Future
Based on estimates for the next years, AKR will show a very strong growth in Earnings Per Share. The EPS will grow by 20.98% on average per year.
The Revenue is expected to grow by 12.70% on average over the next years. This is quite good.
EPS Next Y59.7%
EPS Next 2Y45.07%
EPS Next 3Y25.07%
EPS Next 5Y20.98%
Revenue Next Year13.54%
Revenue Next 2Y12.26%
Revenue Next 3Y12.59%
Revenue Next 5Y12.7%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 109.65, AKR can be considered very expensive at the moment.
Compared to the rest of the industry, the Price/Earnings ratio of AKR indicates a slightly more expensive valuation: AKR is more expensive than 60.77% of the companies listed in the same industry.
AKR's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 27.45.
AKR is valuated quite expensively with a Price/Forward Earnings ratio of 46.37.
AKR's Price/Forward Earnings is on the same level as the industry average.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.90, AKR is valued quite expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 109.65 | ||
| Fwd PE | 46.37 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of AKR indicates a rather expensive valuation: AKR more expensive than 80.00% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 18.64 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates AKR does not grow enough to justify the current Price/Earnings ratio.
AKR's earnings are expected to grow with 25.07% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.84
PEG (5Y)N/A
EPS Next 2Y45.07%
EPS Next 3Y25.07%
5. Dividend
5.1 Amount
AKR has a Yearly Dividend Yield of 4.28%, which is a nice return.
AKR's Dividend Yield is slightly below the industry average, which is at 6.64.
Compared to an average S&P500 Dividend Yield of 2.42, AKR pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.28% |
5.2 History
The dividend of AKR decreases each year by -8.60%.
AKR has been paying a dividend for at least 10 years, so it has a reliable track record.
AKR has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)-8.6%
Div Incr Years1
Div Non Decr Years4
5.3 Sustainability
436.81% of the earnings are spent on dividend by AKR. This is not a sustainable payout ratio.
DP436.81%
EPS Next 2Y45.07%
EPS Next 3Y25.07%
18.64
+0.13 (+0.7%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners110.2%
Inst Owner Change5.16%
Ins Owners0.48%
Ins Owner Change1.32%
Market Cap2.44B
Analysts80
Price Target23.66 (26.93%)
Short Float %4.3%
Short Ratio4.39
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.28% |
Yearly Dividend0.71
Dividend Growth(5Y)-8.6%
DP436.81%
Div Incr Years1
Div Non Decr Years4
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-49.31%
Min EPS beat(2)-86.62%
Max EPS beat(2)-11.99%
EPS beat(4)0
Avg EPS beat(4)-46.9%
Min EPS beat(4)-86.62%
Max EPS beat(4)-8.81%
EPS beat(8)1
Avg EPS beat(8)-23.4%
EPS beat(12)3
Avg EPS beat(12)-653.16%
EPS beat(16)7
Avg EPS beat(16)-321.09%
Revenue beat(2)2
Avg Revenue beat(2)16.78%
Min Revenue beat(2)13.8%
Max Revenue beat(2)19.77%
Revenue beat(4)4
Avg Revenue beat(4)16.58%
Min Revenue beat(4)13.8%
Max Revenue beat(4)19.77%
Revenue beat(8)8
Avg Revenue beat(8)14.65%
Revenue beat(12)12
Avg Revenue beat(12)15.12%
Revenue beat(16)16
Avg Revenue beat(16)18.67%
PT rev (1m)-4.13%
PT rev (3m)-15.33%
EPS NQ rev (1m)14.63%
EPS NQ rev (3m)14.63%
EPS NY rev (1m)-13.22%
EPS NY rev (3m)-20.53%
Revenue NQ rev (1m)7.29%
Revenue NQ rev (3m)6.59%
Revenue NY rev (1m)4.44%
Revenue NY rev (3m)5.09%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 109.65 | ||
| Fwd PE | 46.37 | ||
| P/S | 6.55 | ||
| P/FCF | N/A | ||
| P/OCF | 17.39 | ||
| P/B | 1.06 | ||
| P/tB | 1.12 | ||
| EV/EBITDA | 18.64 |
EPS(TTM)0.17
EY0.91%
EPS(NY)0.4
Fwd EY2.16%
FCF(TTM)-2.29
FCFYN/A
OCF(TTM)1.07
OCFY5.75%
SpS2.85
BVpS17.55
TBVpS16.61
PEG (NY)1.84
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.4% | ||
| ROE | 0.82% | ||
| ROCE | 1.63% | ||
| ROIC | 1.29% | ||
| ROICexc | 1.3% | ||
| ROICexgc | 1.34% | ||
| OM | 20.05% | ||
| PM (TTM) | 5.03% | ||
| GM | 70.29% | ||
| FCFM | N/A |
ROA(3y)0.02%
ROA(5y)0.08%
ROE(3y)0%
ROE(5y)0.17%
ROIC(3y)1.04%
ROIC(5y)N/A
ROICexc(3y)1.04%
ROICexc(5y)N/A
ROICexgc(3y)1.08%
ROICexgc(5y)N/A
ROCE(3y)1.32%
ROCE(5y)N/A
ROICexcg growth 3Y30.54%
ROICexcg growth 5Y8.46%
ROICexc growth 3Y30.37%
ROICexc growth 5Y8.44%
OM growth 3Y22.58%
OM growth 5Y4.29%
PM growth 3Y-10.1%
PM growth 5Y-20.93%
GM growth 3Y1.35%
GM growth 5Y-0.09%
F-Score7
Asset Turnover0.08
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.72 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 7.6 | ||
| Cap/Depr | 307.4% | ||
| Cap/Sales | 118.27% | ||
| Interest Coverage | 0.65 | ||
| Cash Conversion | 64.34% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.78 | ||
| Quick Ratio | 0.89 | ||
| Altman-Z | 0.63 |
F-Score7
WACC7.66%
ROIC/WACC0.17
Cap/Depr(3y)178.12%
Cap/Depr(5y)147.55%
Cap/Sales(3y)71.71%
Cap/Sales(5y)61.48%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)9857478864388542000%
EPS 3Y-9.77%
EPS 5Y-21.23%
EPS Q2Q%-66.67%
EPS Next Y59.7%
EPS Next 2Y45.07%
EPS Next 3Y25.07%
EPS Next 5Y20.98%
Revenue 1Y (TTM)7.04%
Revenue growth 3Y7.14%
Revenue growth 5Y4.43%
Sales Q2Q%19.3%
Revenue Next Year13.54%
Revenue Next 2Y12.26%
Revenue Next 3Y12.59%
Revenue Next 5Y12.7%
EBIT growth 1Y33.78%
EBIT growth 3Y31.32%
EBIT growth 5Y8.91%
EBIT Next Year249.05%
EBIT Next 3Y61.17%
EBIT Next 5Y46.07%
FCF growth 1Y-1066.2%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-15.5%
OCF growth 3Y10.18%
OCF growth 5Y1.34%