AKR

Acadia Realty Trust

Fundamental data last updated:April 13, 2026

company profile

SECTOR

Real Estate

industry

REIT - Retail

Exchange

NYSE

County of HQ

United States

Next Earnings Date

04/28/26

Business Summary

Curbline Properties operates as a retail-focused REIT, generating cash primarily through leasing commercial retail space to tenants under contractual rental agreements. The core engine is rental income supported by property ownership, with value derived from occupancy levels, lease terms, and asset appreciation. Its moat, to the extent it exists, is location-driven: well-situated retail assets can create durable tenant demand and predictable cash flows. Capital discipline, balance sheet strength, and the ability to recycle assets at favorable valuations determine how effectively it converts property ownership into sustainable shareholder returns.

VALUATION

P/E

208.3

Market Cap ($M USD)

$2,717

Forward P/E

76.8

PEG

31.1

PRICE TO SALES

6.5

PRICE TO BOOK

1.2

EV / EBITDA

21.6

5-Year Average P/E

DIVIDEND

Yield

3.90%

Annual Payout

$0.80

Payout Ratio

800.00%

Consecutive Years of Dividend Growth

2

5-Year Dividend Growth Rate

39.70%

Financial Health & Profitability

Earnings Per Share

$0.10

Next Year EPS Growth Estimate

$0.27

Next Year Revenue Growth Estimate

4.90%

Return on Equity (ROE)

0.60%

Operating Margin

20.50%

Debt-to-Equity

0.9

Piotroski F-Score

5

Altman Z-Score

0.8

Return on Invested Capital (ROIC)

1.80%%

Current Ratio

1.2

Quick Ratio

Gainseekers Quantitative Analysis

Summary

At 74.6x earnings and an even richer 78.6x forward P/E, this REIT is priced for near-perfection despite delivering just a 2.10% operating margin and 1.40% ROIC. That multiple is extreme for a retail-focused REIT, especially with Return on Equity at 8.40%, implying investors are paying a premium far above the company’s actual capital productivity. The Altman Z-Score of 3.4 suggests balance sheet stability and low near-term distress risk, but safety is not the same as value; the market is clearly assigning a growth multiple to a business that is not currently generating growth-level returns. This looks less like a mispriced deep value and more like a fully valued asset trading on narrative rather than fundamentals.

AI Exposure / Tech Reliance

As a Retail REIT, its AI exposure is indirect, tied to tenant demand, foot traffic analytics, and data-driven leasing optimization rather than proprietary technology. Modern tech resilience will depend on property locations and the adaptability of tenants in an increasingly omnichannel retail environment. The structure is asset-heavy, so technological agility is slower than software-driven platforms, limiting upside from AI-driven productivity gains.

The Bull Case

A disciplined investor could argue that the balance sheet is the hidden strength here: Debt/Equity at 16.70% is conservative for a REIT, and a Current Ratio of 5.1 signals strong liquidity. The Piotroski F-Score of 5 indicates financial stability rather than distress, and the Altman Z-Score of 3.4 reinforces that bankruptcy risk is low. Price to Book at 1.5 suggests the market is not dramatically overvaluing the underlying asset base, which may appeal to asset-focused investors seeking tangible backing. If management can expand beyond the current 2.10% operating margin while sustaining an 8.40% ROE, the operating leverage on a $2,904M market cap could justify institutional accumulation, particularly with Institutional Ownership at $28.89 signaling room for further sponsorship.

The Bear Case

The red flags are glaring: a 74.6 P/E and 78.6 forward P/E paired with 1.40% ROIC is a valuation mismatch bordering on speculative. Operating Margin at 2.10% leaves no buffer for retail cyclicality, and the minimal TTM Yield of 0.2 combined with a Dividend Per Share of 2.40% and a Payout Ratio of 0.68 raises questions about capital allocation efficiency relative to earnings power. EPS Next Year estimated at $0.37 does not reconcile comfortably with such an elevated earnings multiple, suggesting either earnings normalization risk or aggressive pricing. With a Consensus Rating of 9.40% and a Mean Consensus Target Price of 1.45, expectations appear skewed, and any disappointment could compress multiples rapidly.

Market Sentiment & Smart Money

Short Interest %

26.60%

Analyst Consensus

1.89

Average Analyst Price Target

$23.00

Institutional Ownership %

121.20%

1-Year Beta

0.58

Insider Buying % (6 Mo)

0.50%%

Distance to 52-Week High

92.70%%

Distance to 52-Week Low

115.30%%