--- title: "Acadia Realty Trust | 8-K: FY2026 Q2 Revenue: USD 95.42 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/294109474.md" datetime: "2026-07-28T20:25:11.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294109474.md) - [en](https://longbridge.com/en/news/294109474.md) - [zh-HK](https://longbridge.com/zh-HK/news/294109474.md) generator: "portal-rs" --- # Acadia Realty Trust | 8-K: FY2026 Q2 Revenue: USD 95.42 M Revenue: As of FY2026 Q2, the actual value is USD 95.42 M. EPS: As of FY2026 Q2, the actual value is USD 0.05. EBIT: As of FY2026 Q2, the actual value is USD 36.57 M. Acadia Realty Trust reported its consolidated financial results for the three and six months ended June 30, 2026, with key metrics indicating growth across several areas, though specific financial and operational metrics are not detailed in one document but across multiple exhibits . #### Operational Metrics - **Net Income Attributable to Acadia Shareholders**: - For the three months ended June 30, 2026, net income was $11,038 thousand, compared to $1,963 thousand in the same period of 2025 . - For the six months ended June 30, 2026, net income was $41,515 thousand, up from $3,571 thousand in 2025 . - **Net Income per Share**: - GAAP net earnings were $0.05 per share for Q2 2026, compared to $0.01 in Q2 2025 . - Net income per share for the three months ended June 30, 2026, was $0.05, an increase from $0.01 for the same period in 2025 . - **NAREIT Funds From Operations (FFO)**: - For Q2 2026, NAREIT FFO was $43.1 million, or $0.30 per share, up from $38.1 million, or $0.27 per share, in Q2 2025 . - Year-to-date NAREIT FFO per diluted Common Share and OP Unit was $0.57 in 2026, compared to $0.62 in 2025 . - **FFO As Adjusted**: - For Q2 2026, FFO As Adjusted was $44.7 million, or $0.31 per share, compared to $38.7 million, or $0.28 per share, for Q2 2025 . - Year-to-date FFO As Adjusted was $0.61 in 2026, up from $0.55 in 2025 . - **Adjusted Funds From Operations (AFFO)**: - AFFO to Common Shareholders and Common OP Unit holders was $37,667 thousand for the quarter ended June 30, 2026, and $74,502 thousand year-to-date . - **Operating Income**: - For the three months ended June 30, 2026, operating income was $22,674 thousand, compared to $760 thousand in 2025 . - For the six months ended June 30, 2026, operating income was $181,185 thousand, compared to $16,084 thousand in 2025 . - **Total Revenues**: - For the three months ended June 30, 2026, total revenues were $95,423 thousand, compared to $100,592 thousand in 2025 . - For the six months ended June 30, 2026, total revenues were $198,415 thousand, compared to $204,986 thousand in 2025 . - **Total Expenses**: - For the three months ended June 30, 2026, total expenses were $76,718 thousand, compared to $99,832 thousand in 2025 . - For the six months ended June 30, 2026, total expenses were $163,347 thousand, compared to $188,902 thousand in 2025 . - **Gain on Disposition of Properties**: - For the three months ended June 30, 2026, gain on disposition of properties was $3,969 thousand, compared to $0 thousand in 2025 . - For the six months ended June 30, 2026, gain on disposition of properties was $146,117 thousand, compared to $0 thousand in 2025 . - **Equity in Earnings (Losses) of Unconsolidated Affiliates**: - For the three months ended June 30, 2026, this was $13,929 thousand, compared to - $4,191 thousand in 2025 . - **Interest Expense**: - For the three months ended June 30, 2026, interest expense was - $20,143 thousand, compared to - $23,604 thousand in 2025 . - **Adjusted EBITDA**: - For the three months ended June 30, 2026, Adjusted EBITDA was $61,045 thousand, an increase from $58,120 thousand in the prior year . - For the six months ended June 30, 2026, Adjusted EBITDA was $119,358 thousand, up from $115,775 thousand in 2025 . - **Net Debt to Adjusted EBITDA (including IM debt)**: 5.1x as of June 30, 2026, improving from 5.5x on June 30, 2025 . - **Fixed Charge Coverage Ratio (annualized)**: 3.8x as of June 30, 2026, compared to 4.1x on June 30, 2025 . #### Segment Revenue and Net Operating Income (NOI) - **REIT Portfolio Same-Property NOI**: - Increased by 8.7% for Q2 2026, driven by a 15.6% increase in street retail . - For the six months ended June 30, 2026, Same-Property NOI grew by 7.3% to $78.407 million, compared to $73.064 million in the prior year period . - The REIT Portfolio Same-property NOI % for June 30, 2026, was 8.7%, an increase from 4.1% on June 30, 2025 . - **REIT NOI (pro-rata share)**: - For the three months ended June 30, 2026, REIT NOI was $45,130 thousand, an increase from $38,629 thousand in 2025 . - For the six months ended June 30, 2026, REIT NOI was $86,945 thousand, up from $75,359 thousand in 2025 . - **Investment Management NOI (pro-rata share)**: - For the three months ended June 30, 2026, Investment Management NOI was $11,749 thousand, compared to $10,901 thousand in 2025 . - For the six months ended June 30, 2026, Investment Management NOI was $24,992 thousand, up from $20,520 thousand in 2025 . - **Total NOI (pro-rata share)**: - Reached $56,879 thousand for the three months ended June 30, 2026, an increase from $49,530 thousand in 2025 . - For the six months ended June 30, 2026, total NOI was $111,937 thousand, compared to $95,879 thousand in 2025 . #### Occupancy and Leasing Metrics - **Economic Occupancy**: - Increased to 94.4% as of June 30, 2026, up 30 basis points from March 31, 2026 . - REIT Street and Urban properties economic occupancy was 91.4% (up from 86.7% in 2025) . - REIT Suburban properties economic occupancy was 95.5% (up from 94.3% in 2025) . - REIT Total economic occupancy was 94.4% (up from 92.2% in 2025) . - **Leased Occupancy**: - Increased to 95.7% as of June 30, 2026, up 40 basis points from March 31, 2026 . - Percent leased for REIT Street and Urban properties was 93.4% (up from 90.8% in 2025) . - REIT Suburban properties were 96.6% leased (an increase from 96.2% in 2025) . - Overall, REIT Total properties were 95.7% leased, compared to 94.7% in 2025 . - **Cash Leasing Spreads on New Leases (REIT Portfolio)**: - 91% for Q2 2026 . - 78% inclusive of renewal leases for Q2 2026 . - New leases showed 91.3% cash growth in base rent for the three months ended June 30, 2026 . - Renewal leases had 1.9% cash growth for the three months ended June 30, 2026 . - Year-to-date, new leases had 77.2% cash growth, and renewal leases saw 9.7% cash growth . - **Signed Not Opened (SNO) Pipeline**: - Grew by over 50% to $16.5 million as of June 30, 2026, from $10.5 million at March 31, 2026 . - Record new leasing volume of approximately $8.9 million, of which approximately $6.5 million came from new street and urban leases . - The SNO Pipeline balance at June 30, 2026, included $6.4 million for REIT Portfolio (Same-property), $7.8 million for REIT Portfolio (Development/Redevelopment/Prestabilized), and $2.3 million for Investment Management . - **Average Base Rent (ABR) per square foot for REIT Total**: $40.19 as of June 30, 2026, an increase from $37.78 in 2025 . #### Transactional Activity - **Total Acquisitions (Year-to-Date)**: Approximately $652 million, including $228 million in the REIT Portfolio and $424 million in Investment Management . - **REIT Portfolio Acquisitions (Q2 2026)**: Approximately $149 million . - Specific REIT acquisitions for the three months ended June 30, 2026, totaled $119,753 thousand, compared to $49,505 thousand in 2025 . - **Investment Management Platform Dispositions**: - Approximately $211 million disposed year-to-date, and approximately $504 million recapitalized year-to-date . - Approximately $107 million of dispositions completed during Q2 2026 . - Aggregate sale price of dispositions (REIT and IM) was $106,500 thousand for the three months ended June 30, 2026, up from $0 thousand in 2025 . - Year-to-date, total dispositions and recapitalizations amounted to approximately $715 million and $504 million, respectively, with Acadia Realty Trust’s share being $142 million . - These transactions generated a weighted average gross equity multiple of approximately 1.9x . #### Balance Sheet and Liquidity - **Common Equity Issuance (Q2 2026)**: Approximately $200 million raised from the sale of common shares . - **Forward Equity Contracts**: - Settled approximately 3.8 million shares of previously issued forward equity contracts for cash proceeds of approximately $72.1 million . - Currently has unsettled forward equity contracts to sell 17.8 million shares for aggregate net proceeds of approximately $369 million . - **Corporate Credit Facility**: Amended and upsized by $250 million to $1.425 billion, with an accordion feature to increase capacity to $2.0 billion . - **Debt Maturities**: No significant REIT Portfolio debt maturities until 2029, with 2.4%, 2.5%, and 7.1% of debt maturing in 2026, 2027, and 2028, respectively . - **Total Equity Capitalization**: $3,006,368 thousand as of June 30, 2026 . - **Consolidated Secured Debt**: $480,045 thousand as of June 30, 2026 . - **Consolidated Revolving Credit**: $43,323 thousand as of June 30, 2026 . - **Consolidated Unsecured Notes Payable**: $1,113,650 thousand as of June 30, 2026 . - **Total Pro-rata Debt Capitalization**: $1,643,297 thousand as of June 30, 2026 . - **Pro-rata Liquidity**: Included cash, cash equivalents, and restricted cash of $46,099 thousand as of June 30, 2026 . - **Net Debt**: $1,228,384 thousand as of June 30, 2026 . #### Outlook / Guidance Acadia Realty Trust increased its full-year 2026 guidance for Net Earnings, NAREIT FFO, and FFO As Adjusted . The revised GAAP net earnings per share guidance is $0.40-$0.41, up from $0.37-$0.39 . FFO As Adjusted per share guidance is $1.24-$1.26, an increase from the prior guidance of $1.22-$1.26, with annual projected same-property NOI growth remaining between 5% and 9% . ### Related Stocks - [AKR.US](https://longbridge.com/en/quote/AKR.US.md) ## Related News & Research - [Acadia Realty Trust (NYSE:AKR) Updates FY 2026 Earnings Guidance](https://longbridge.com/en/news/294113411.md) - [Acadia Realty Trust (NYSE:AKR) Announces $0.20 Quarterly Dividend](https://longbridge.com/en/news/295132794.md) - [Short Interest in Mfs Muni Inc Tr (NYSE:MFM) Declines By 42.7%](https://longbridge.com/en/news/296123614.md) - [Quadravest Preferred Split Share ETF declares CAD 0.0583 dividend](https://longbridge.com/en/news/296378937.md) - [BUZZ-Acadia Realty falls after unveiling stock offering](https://longbridge.com/en/news/289240267.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**