The strong operating momentum, accelerating same-property NOI growth, and raised guidance support a bullish outlook. Monitor the Q3 2026 earnings for continued leasing momentum and SNO pipeline conversion, as well as any further acquisition activity in the REIT Portfolio.
Price Chart
Executive Summary
Acadia Realty Trust reported strong Q2 2026 results, with FFO As Adjusted of $0.31 per share, beating the consensus estimate of $0.30. REIT Portfolio same-property NOI grew 8.7%, driven by 15.6% growth in street retail. The company raised its full-year 2026 FFO As Adjusted guidance to $1.24-$1.26 per share, reflecting confidence in accelerating operating fundamentals and a fully funded acquisition pipeline.
Key Financial Metrics
Key Facts
- FFO As Adjusted of $0.31 per share for Q2 2026, up from $0.28 in Q2 2025, beating the $0.30 consensus.
- REIT Portfolio same-property NOI grew 8.7% in Q2 2026, driven by 15.6% growth in street retail.
- Full-year 2026 FFO As Adjusted guidance raised to $1.24-$1.26 per share (from $1.22-$1.26).
- Year-to-date total acquisitions of $652 million, including $228 million in the REIT Portfolio.
- Net Debt to Adjusted EBITDA improved to 5.1x from 5.5x at March 31, 2026.
- Signed Not Opened (SNO) pipeline grew over 50% to $16.5 million from $10.5 million at March 31, 2026.
Financial Impact
FFO As Adjusted beat consensus by $0.01 per share; guidance midpoint raised by $0.01 per share; same-property NOI growth accelerated to 8.7%
Risk Factors
- Rising interest rates could increase borrowing costs and cap rates, pressuring valuations.
- Potential economic slowdown could impact tenant sales and leasing demand, particularly in street retail.
- Execution risk on the large development pipeline (Henderson Avenue) and future acquisitions.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-321040 |
| Document: akr-ex99_1.htm | 0001193125-26-321040 |
| Document: akr-20260728.htm | 0001193125-26-321040 |
| Document: 0001193125-26-321040-index-headers.html | 0001193125-26-321040 |
| Document: 0001193125-26-321040-index.html | 0001193125-26-321040 |
| Document: 0001193125-26-321040.txt | 0001193125-26-321040 |
| 8-K Data (Synthetic) | 0001193125-26-321040 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 4, 2026 8w ago | Institutional Cluster | $21.66 $20.45 | ▼ −5.59% | ▼ −4.35% | $18.63 (−13.99%) |
Jul 28, 2026 9w ago | 8-K | $22.63 $21.08 | ▼ −6.85% | ▼ −11.87% | $18.63 (−17.68%) |
Jun 11, 2026 16w ago | 424B5 | $21.97 $21.25 | ▲ +3.28% | ▲ +5.17% | $18.63 (+15.20%) |
Jun 10, 2026 16w ago | 424B5 | $21.40 $21.25 | ▲ +0.70% | ▲ +4.32% | $18.63 (+12.94%) |
Apr 28, 2026 22w ago | 8-K | $21.65 $22.44 | ▲ +3.65% | ▼ −2.40% | $18.63 (−13.95%) |
Apr 20, 2026 23w ago | 8-K | $21.40 $21.04 | ▼ −1.68% | ▼ −5.88% | $18.63 (−12.94%) |
US Market Status
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