AKR earnings analysis
What we found in AKR's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Acadia Realty Trust (AKR) reported Q1 2026 revenue of $98.568 million, slightly missing estimates of $98.612 million. EPS of $0.26 was below the expected $0.30, indicating ongoing challenges despite a year-over-year revenue growth of 14.2%. The balance sheet showed increased debt levels and a modest decrease in cash, indicating potential liquidity concerns.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue of $98.568M, 14.2% YoY Growth
- Total revenue reached $98.568 million, up 14.2% compared to Q1 2025.
- Gross Margin at 82.5%
- The gross margin improved slightly to 82.5%, compared to 81.9% in the previous quarter.
- FFO As Adjusted Guidance Raised
- Management raised full-year FFO As Adjusted guidance to $1.22-$1.26 from $1.21-$1.25.
- Operating Cash Flow Positive
- Operating cash flow remained positive at $6M, albeit lower than prior quarters.
- $14M Free Cash Flow in Q1 2025
- The company's free cash flow in the same quarter last year was $14 million, but decreased to $6 million this period.
- Debt Increased to $1.604B
- Total debt as of March 31, 2026, was $1,604.3 million, indicating increased leverage.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- EPS Miss by 13.33%
- EPS reported at $0.26 vs. estimate of $0.30, a miss of 13.33%.
- Increased Total Debt
- Total property mortgage loans and notes payable increased to $1,604.3 million from $1,500 million.
- Liquidity Concerns with Lower Cash Balance
- Cash decreased significantly, impacting liquidity, although exact current cash and equivalents are not disclosed.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.26
- Gross margin
- 82.5%
What they said about what is next.
Management raised Q2 and full-year 2026 EPS guidance to $0.37-$0.39.
The filing reads worse than the one before it.
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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