Acadia Realty Trust key statistics and ratios

In fiscal 2025, Acadia Realty Trust had return on equity of 0.8%, an operating margin of 12.0% and debt equal to 86.5% of equity. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Acadia Realty Trust: financial ratios, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Operating margin	11.5%	26.6%	12.6%	25.2%	−45.9%	10.5%	20.9%	14.5%	18.3%	12.0%	53.3%
Net margin	38.3%	24.7%	12.1%	18.5%	−3.6%	8.1%	−10.9%	5.9%	6.0%	4.1%	11.5%
Free-cash-flow margin	−20.8%	2.6%	37.0%	45.4%	41.4%	35.9%	40.8%	46.0%	39.0%	40.7%	43.8%
Return on equity	4.6%	3.9%	2.1%	3.6%	−0.6%	1.6%	−2.2%	1.2%	1.2%	0.8%	2.0%
Return on assets	1.8%	1.5%	0.8%	1.3%	−0.2%	0.6%	−0.8%	0.5%	0.5%	0.4%	0.9%
Asset turnover	0.05	0.06	0.07	0.07	0.06	0.07	0.08	0.08	0.08	0.09	0.08
Debt to equity	94.8%	91.8%	106.9%	111.4%	118.9%	119.6%	106.7%	114.9%	74.9%	86.5%	79.8%
Effective tax rate	−0.2%	1.5%	—	5.9%	—	0.4%	—	—	2.5%	—	0.2%
Capital spending as % of revenue	78.7%	43.5%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Free cash flow ÷ net income	−54.4%	10.6%	305.6%	244.6%	—	445.8%	—	783.8%	648.7%	988.3%	382.3%
Dividends ÷ net income	125.5%	161.9%	282.7%	174.8%	—	167.6%	—	345.0%	352.5%	599.8%	233.6%
Dividends and buybacks ÷ free cash flow	—	>999%	149.9%	71.5%	48.3%	37.6%	48.5%	44.0%	54.3%	60.7%	61.1%

US$ thousands unless shown otherwise. Fiscal quarters.

Acadia Realty Trust: financial ratios, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Operating margin	17.5%	14.7%	0.8%	12.6%	19.7%	153.9%	23.8%	10.8%
Net margin	9.1%	1.5%	2.0%	5.6%	7.4%	29.6%	11.6%	−3.8%
Free-cash-flow margin	40.6%	24.8%	64.4%	34.0%	40.1%	30.4%	61.0%	45.1%
Debt to equity	74.4%	70.7%	79.5%	82.9%	83.7%	70.1%	70.1%	77.9%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Moat

22 /100

Weak moat

How hard Acadia Realty Trust's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 0 / 20

Net income has been a median 0.6% of total assets over 10 years.
Durability 5 / 20

Operating margin has been a median 17.0%; its worst year was -14.2%.
Cash conversion 6 / 20

Free cash flow was positive in 5 of 9 years, at a median 0.2% of revenue.
Discipline 8 / 20

The diluted share count rose 53.5% over five years; stock-based pay has been a median 4.0% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: AAT vs AKR AKR vs IVT AKR vs FCPT

More: Retail REITs stocks compared, Real Estate sector, rankings of US companies

Figures from Acadia Realty Trust's SEC filings (10-K and 10-Q), retrieved November 3, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Acadia Realty Trust.