$AKR
ACADIA REALTY TRUST
CIK:0000899629|SEC Filings
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
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| Total revenues | $ 95,423 | $ 100,592 | $ 198,415 | $ 204,986 | ||
| Expenses | ||||||
| Depreciation and amortization | 35,162 | 39,269 | 75,317 | 78,709 | ||
| General and administrative | 11,782 | 11,532 | 27,085 | 23,129 | ||
| Real estate taxes | 12,735 | 13,317 | 25,657 | 26,620 | ||
| Property operating | 17,039 | 17,524 | 35,288 | 35,804 | ||
| Impairment charges | 0 | 18,190 | 0 | 24,640 | ||
| Total expenses | 76,718 | 99,832 | 163,347 | 188,902 | ||
| Gain on disposition of properties | 3,969 | 0 | 146,117 | 0 | ||
| Operating income | 22,674 | 760 | 181,185 | 16,084 | ||
| Equity in earnings (losses) of unconsolidated affiliates | 13,929 | (4,191) | 12,421 | (5,904) | ||
| Interest income | [1] | 6,557 | 6,358 | 11,345 | 12,454 | |
| Realized and unrealized holding losses on investments and other | (33) | (54) | (649) | 1,567 | ||
| Interest expense | (20,143) | (23,604) | (42,195) | (46,851) | ||
| Loss on change in control | 0 | 0 | 0 | (9,622) | ||
| Income (loss) from continuing operations before income taxes | 22,984 | (20,731) | 162,107 | (32,272) | ||
| Income tax provision | (154) | (211) | (166) | (327) | ||
| Net income (loss) | 22,830 | (20,942) | 161,941 | (32,599) | ||
| Net loss attributable to redeemable noncontrolling interests | 981 | 1,724 | 1,679 | 3,393 | ||
| Net (income) loss attributable to noncontrolling interests | (12,773) | 21,181 | (122,105) | 32,777 | ||
| Net income attributable to Acadia shareholders | $ 11,038 | $ 1,963 | $ 41,515 | $ 3,571 | ||
| Basic income per share | $ 0.05 | $ 0.01 | $ 0.27 | $ 0.02 | ||
| Diluted income per share | $ 0.05 | $ 0.01 | $ 0.27 | $ 0.02 | ||
| Weighted average shares for basic earnings per share | 133,626,890 | 130,981,401 | 132,443,666 | 126,181,730 | ||
| Weighted average shares for diluted income per share | 133,824,937 | 130,981,401 | 132,641,713 | 126,181,730 | ||
| Rental Income | ||||||
| Revenues | $ 91,188 | $ 98,297 | $ 189,756 | $ 200,937 | ||
| Other | ||||||
| Revenues | $ 4,235 | $ 2,295 | $ 8,659 | 4,049 | ||
| New corporate office lease | ||||||
| Revenues | $ 2,100 | |||||
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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands |
Jun. 30, 2026 |
Dec. 31, 2025 |
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|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||||
| Operating real estate, net | $ 3,677,439 | $ 3,983,754 | |||||||||
| Real estate under development | 194,222 | 167,051 | |||||||||
| Net investments in real estate | 3,871,661 | 4,150,805 | |||||||||
| Notes receivable, net ($2,176 and $1,638 of allowance for credit losses as of March 31, 2026 and December 31,2025, respectively) | [1] | 154,501 | 154,892 | ||||||||
| Investments in and advances to unconsolidated affiliates | 263,598 | 161,955 | |||||||||
| Other assets, net | 194,661 | 223,980 | |||||||||
| Right-of-use assets - operating leases, net | 21,589 | 23,594 | |||||||||
| Cash and cash equivalents | 32,960 | 38,818 | |||||||||
| Restricted cash | 16,272 | 18,081 | |||||||||
| Rents receivable, net | 55,430 | 65,027 | |||||||||
| Assets of property held for sale | 6,835 | 0 | |||||||||
| Total assets | [2] | 4,617,507 | [3] | 4,837,152 | |||||||
| LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | |||||||||||
| Mortgage and other notes payable, net | 480,045 | 893,944 | |||||||||
| Unsecured notes payable, net | 1,113,650 | 879,462 | |||||||||
| Unsecured line of credit | 43,323 | 89,500 | |||||||||
| Accounts payable and other liabilities | 229,641 | 273,479 | |||||||||
| Lease liabilities - operating leases | 23,852 | [4] | 25,972 | ||||||||
| Dividends and distributions payable | 29,185 | 28,526 | |||||||||
| Distributions in excess of income from, and investments in, unconsolidated affiliates | 16,914 | 16,838 | |||||||||
| Total liabilities | [2] | 1,936,610 | 2,207,721 | ||||||||
| Commitments and contingencies (Note 9) | |||||||||||
| Redeemable noncontrolling interests (Note 10) | 4,499 | 9,113 | |||||||||
| Acadia Shareholders' Equity | |||||||||||
| Common shares, $0.001 par value per share, authorized 200,000,000 shares, issued and outstanding 133,513,864 and 131,036,560 shares as of March 31, 2026 and December 31,2025, respectively | 137 | 131 | |||||||||
| Additional paid-in capital | 2,829,749 | 2,710,651 | |||||||||
| Accumulated other comprehensive income | 25,838 | 15,585 | |||||||||
| Distributions in excess of accumulated earnings | (519,027) | (500,720) | |||||||||
| Total Acadia shareholders’ equity | 2,336,697 | 2,225,647 | |||||||||
| Noncontrolling interests | 339,701 | 394,671 | |||||||||
| Total equity | 2,676,398 | 2,620,318 | |||||||||
| Total liabilities, redeemable noncontrolling interests, and equity | $ 4,617,507 | $ 4,837,152 | |||||||||
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