ACADIA REALTY TRUST (AKR) Stock Fundamental Analysis
NYSE:AKR - New York Stock Exchange, Inc. - US0042391096 - REIT - Currency: USD
Overall AKR gets a fundamental rating of 4 out of 10. We evaluated AKR against 130 industry peers in the Diversified REITs industry. While AKR is still in line with the averages on profitability rating, there are concerns on its financial health. AKR is valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year AKR was profitable.
AKR had a positive operating cash flow in the past year.
In multiple years AKR reported negative net income over the last 5 years.
Each year in the past 5 years AKR had a positive operating cash flow.
1.2 Ratios
AKR has a Return On Assets of 0.39%. This is comparable to the rest of the industry: AKR outperforms 46.15% of its industry peers.
AKR's Return On Equity of 0.85% is in line compared to the rest of the industry. AKR outperforms 45.38% of its industry peers.
Looking at the Return On Invested Capital, with a value of 1.29%, AKR is doing worse than 83.08% of the companies in the same industry.
AKR had an Average Return On Invested Capital over the past 3 years of 1.04%. This is below the industry average of 3.15%.
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 | 0.39% | ||
| ROE | 0.85% | ||
| 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
AKR has a Profit Margin of 4.98%. This is comparable to the rest of the industry: AKR outperforms 52.31% of its industry peers.
AKR's Profit Margin has declined in the last couple of years.
AKR has a Operating Margin (19.86%) which is in line with its industry peers.
In the last couple of years the Operating Margin of AKR has grown nicely.
AKR has a Gross Margin of 70.01%. This is comparable to the rest of the industry: AKR outperforms 60.00% of its industry peers.
AKR's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 19.86% | ||
| PM (TTM) | 4.98% | ||
| GM | 70.01% |
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.
The number of shares outstanding for AKR has been increased compared to 1 year ago.
AKR has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, AKR has an improved debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 0.59, we must say that AKR is in the distress zone and has some risk of bankruptcy.
With a Altman-Z score value of 0.59, AKR perfoms like the industry average, outperforming 53.85% of the companies in the same industry.
A Debt/Equity ratio of 0.81 indicates that AKR is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.81, AKR is in the better half of the industry, outperforming 71.54% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.81 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.59 |
ROIC/WACC0.17
WACC7.6%
2.3 Liquidity
A Current Ratio of 1.60 indicates that AKR should not have too much problems paying its short term obligations.
AKR has a Current ratio of 1.60. This is in the better half of the industry: AKR outperforms 73.85% of its industry peers.
A Quick Ratio of 0.75 indicates that AKR may have some problems paying its short term obligations.
AKR has a Quick ratio (0.75) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.6 | ||
| Quick Ratio | 0.75 |
3. Growth
3.1 Past
AKR shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 16900.00%, which is quite impressive.
Measured over the past years, AKR shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -21.23% on average per year.
Looking at the last year, AKR shows a quite strong growth in Revenue. The Revenue has grown by 11.74% in the last year.
The Revenue has been growing slightly by 4.43% on average over the past years.
EPS 1Y (TTM)16900%
EPS 3Y-9.77%
EPS 5Y-21.23%
EPS Q2Q%-9.09%
Revenue 1Y (TTM)11.74%
Revenue growth 3Y7.14%
Revenue growth 5Y4.43%
Sales Q2Q%14.8%
3.2 Future
The Earnings Per Share is expected to grow by 20.98% on average over the next years. This is a very strong growth
Based on estimates for the next years, AKR will show a quite strong growth in Revenue. The Revenue will grow by 12.70% on average per year.
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
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 110.47, the valuation of AKR can be described as expensive.
AKR's Price/Earnings ratio is a bit more expensive when compared to the industry. AKR is more expensive than 60.00% of the companies in the same industry.
AKR is valuated expensively when we compare the Price/Earnings ratio to 27.24, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 46.72, which means the current valuation is very expensive for AKR.
AKR's Price/Forward Earnings is on the same level as the industry average.
The average S&P500 Price/Forward Earnings ratio is at 36.42. AKR is valued slightly more expensive when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 110.47 | ||
| Fwd PE | 46.72 |
4.2 Price Multiples
80.77% of the companies in the same industry are cheaper than AKR, based on the Enterprise Value to EBITDA ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 18.9 |
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)1.85
PEG (5Y)N/A
EPS Next 2Y45.07%
EPS Next 3Y25.07%
5. Dividend
5.1 Amount
AKR has a Yearly Dividend Yield of 4.32%, which is a nice return.
Compared to an average industry Dividend Yield of 6.57, AKR is paying slightly less dividend.
AKR's Dividend Yield is rather good when compared to the S&P500 average which is at 2.40.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.32% |
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
AKR pays out 465.74% of its income as dividend. This is not a sustainable payout ratio.
DP465.74%
EPS Next 2Y45.07%
EPS Next 3Y25.07%
18.78
+0.28 (+1.51%)
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 Change0.28%
Ins Owners0.48%
Ins Owner Change1.32%
Market Cap2.46B
Analysts80
Price Target23.66 (25.99%)
Short Float %5.71%
Short Ratio5.26
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.32% |
Yearly Dividend0.71
Dividend Growth(5Y)-8.6%
DP465.74%
Div Incr Years1
Div Non Decr Years4
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-87.93%
Min EPS beat(2)-89.24%
Max EPS beat(2)-86.62%
EPS beat(4)0
Avg EPS beat(4)-49.16%
Min EPS beat(4)-89.24%
Max EPS beat(4)-8.81%
EPS beat(8)0
Avg EPS beat(8)-71.56%
EPS beat(12)3
Avg EPS beat(12)-652.26%
EPS beat(16)6
Avg EPS beat(16)-382.43%
Revenue beat(2)2
Avg Revenue beat(2)14.03%
Min Revenue beat(2)8.29%
Max Revenue beat(2)19.77%
Revenue beat(4)4
Avg Revenue beat(4)14.27%
Min Revenue beat(4)8.29%
Max Revenue beat(4)19.77%
Revenue beat(8)8
Avg Revenue beat(8)13.29%
Revenue beat(12)12
Avg Revenue beat(12)13.8%
Revenue beat(16)16
Avg Revenue beat(16)16.81%
PT rev (1m)0%
PT rev (3m)-7.2%
EPS NQ rev (1m)0%
EPS NQ rev (3m)12.2%
EPS NY rev (1m)0%
EPS NY rev (3m)-18.82%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)4.38%
Revenue NY rev (1m)0%
Revenue NY rev (3m)5.11%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 110.47 | ||
| Fwd PE | 46.72 | ||
| P/S | 6.37 | ||
| P/FCF | N/A | ||
| P/OCF | 14.21 | ||
| P/B | 1.08 | ||
| P/tB | 1.15 | ||
| EV/EBITDA | 18.9 |
EPS(TTM)0.17
EY0.91%
EPS(NY)0.4
Fwd EY2.14%
FCF(TTM)-3.23
FCFYN/A
OCF(TTM)1.32
OCFY7.04%
SpS2.95
BVpS17.33
TBVpS16.32
PEG (NY)1.85
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.39% | ||
| ROE | 0.85% | ||
| ROCE | 1.63% | ||
| ROIC | 1.29% | ||
| ROICexc | 1.3% | ||
| ROICexgc | 1.34% | ||
| OM | 19.86% | ||
| PM (TTM) | 4.98% | ||
| GM | 70.01% | ||
| 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-Score6
Asset Turnover0.08
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.81 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 8.16 | ||
| Cap/Depr | 401.99% | ||
| Cap/Sales | 154.52% | ||
| Interest Coverage | 0.69 | ||
| Cash Conversion | 76.93% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.6 | ||
| Quick Ratio | 0.75 | ||
| Altman-Z | 0.59 |
F-Score6
WACC7.6%
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)16900%
EPS 3Y-9.77%
EPS 5Y-21.23%
EPS Q2Q%-9.09%
EPS Next Y59.7%
EPS Next 2Y45.07%
EPS Next 3Y25.07%
EPS Next 5Y20.98%
Revenue 1Y (TTM)11.74%
Revenue growth 3Y7.14%
Revenue growth 5Y4.43%
Sales Q2Q%14.8%
Revenue Next Year13.54%
Revenue Next 2Y12.26%
Revenue Next 3Y12.59%
Revenue Next 5Y12.7%
EBIT growth 1Y43.99%
EBIT growth 3Y31.32%
EBIT growth 5Y8.91%
EBIT Next Year249.05%
EBIT Next 3Y61.17%
EBIT Next 5Y46.07%
FCF growth 1Y-517.16%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y9.64%
OCF growth 3Y10.18%
OCF growth 5Y1.34%