Overview
1998Founded1
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
12.0%Operating margin4
4.1%Net margin4
14.2%Revenue growth, 20254
0.8%Return on equity4
0.84×Debt to equity4
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs96¢$393.4M
- Income tax0¢$412.0K
- Profit4¢$16.9M
Out of $410.8M in revenue.4
Where each dollar of operating cash went, fiscal 2025
- Dividends paid61¢$101.3M
- Kept or used elsewhere39¢$65.6M
Out of $167.0M of cash from operations.4
Financial statements
Every line of the income statement in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenues | $410.8M | $359.7M | $338.7M |
| Depreciation and amortization | $157.5M | $138.9M | $136.0M |
| General and administrative | $45.7M | $40.6M | $41.5M |
| Real estate taxes | $52.1M | $46.0M | $46.6M |
| Property operating | $71.4M | $66.0M | $61.8M |
| Impairment charges | $37.2M | $1.7M | $3.7M |
| Total expenses | $363.8M | $293.2M | $289.6M |
| Gain (loss) on disposition of properties | $2.5M | -$834.0K | $0 |
| Operating income | $49.4M | $65.7M | $49.1M |
| Equity in (losses) earnings of unconsolidated affiliates | -$7.7M | $15.2M | -$7.7M |
| Interest income | $23.7M | $25.1M | $20.0M |
| Realized and unrealized holding (losses) gains on investments and other | -$96.0K | -$5.0M | $30.4M |
| Interest expense | -$95.3M | -$92.6M | -$93.3M |
| Loss on change in control | -$9.6M | $0 | $0 |
| (Loss) income from continuing operations before income taxes | -$39.6M | $8.4M | -$1.4M |
| Income tax provision | -$412.0K | -$212.0K | -$301.0K |
| Net (loss) income | -$40.0M | $8.1M | -$1.7M |
| Net loss attributable to redeemable noncontrolling interests | $5.6M | $7.9M | $8.2M |
| Net loss attributable to noncontrolling interests | $51.3M | $5.6M | $13.4M |
| Net income attributable to Acadia shareholders | $16.9M | $21.6M | $19.9M |
| Basic earnings per share | $0.10 | $0.19 | $0.20 |
| Diluted earnings per share | $0.10 | $0.19 | $0.20 |
| Weighted average shares for basic earnings per share | 128.6M shares | 108.2M shares | 95.3M shares |
| Weighted average shares for diluted earnings per share | 128.7M shares | 108.3M shares | 95.3M shares |
Every line of the balance sheet in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net investments in real estate | $4.2B | $3.7B | |
| Notes receivable, net ($1,629 and $2,004 of allowance for credit losses as of December 31, 2025 and December 31, 2024, respectively) | $154.9M | $126.6M | |
| Cash and cash equivalents | $38.8M | $16.8M | $17.5M |
| Marketable securities | $0 | $14.8M | |
| Rents receivable, net | $65.0M | $58.0M | |
| Assets of properties held for sale | $0 | $0 | |
| Total assets | $4.8B | $4.4B | $4.3B |
| Unsecured line of credit | $89.5M | $14.0M | |
| Lease liabilities - operating leases | $26.0M | $27.9M | |
| Dividends and distributions payable | $28.5M | $24.5M | |
| Distributions in excess of income from, and investments in, unconsolidated affiliates | $16.8M | $16.5M | |
| Total liabilities | $2.2B | $1.8B | |
| Redeemable noncontrolling interests (Note 10) | $9.1M | $30.6M | |
| Common shares, $0.001 par value per share, authorized 200,000,000 shares, issued and outstanding 131,036,560 and 119,657,594 shares as of December 31, 2025 and December 31, 2024, respectively | $131.0K | $120.0K | |
| Additional paid-in capital | $2.7B | $2.4B | |
| Accumulated other comprehensive income | $15.6M | $38.6M | |
| Distributions in excess of accumulated earnings | -$500.7M | -$409.4M | |
| Total Acadia shareholders equity | $2.2B | $2.1B | |
| Noncontrolling interests | $394.7M | $436.0M | |
| Total equity | $2.6B | $2.5B | $2.1B |
| Total liabilities, redeemable noncontrolling interests, and equity | $4.8B | $4.4B | |
| Allowance for credit losses | $1.6M | $2.0M | $1.3M |
| Common shares, par value (in dollars per share) | $0.00 | $0.00 | |
| Common shares, authorized (in shares) | 200.0M shares | 200.0M shares | |
| Common shares, issued (in shares) | 131.0M shares | 119.7M shares | |
| Common shares, outstanding (in shares) | 131.0M shares | 119.7M shares | |
| Note receivable from related party | $154.9M | $126.6M | |
| Operating real estate, net | $4.0B | $3.5B | |
| Real estate under development | $167.1M | $129.6M | |
| Investments in and advances to unconsolidated affiliates | $162.0M | $209.2M | |
| Other assets, net | $224.0M | $223.8M | |
| Right-of-use assets - operating leases, net | $23.6M | $25.5M | |
| Restricted cash | $18.1M | $22.9M | $7.8M |
| Mortgage and other notes payable, net | $893.9M | $953.7M | |
| Unsecured notes payable, net | $879.5M | $569.6M | |
| Accounts payable and other liabilities | $273.5M | $232.7M |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net (loss) income | -$40.0M | $8.1M | -$1.7M |
| Depreciation and amortization | $157.5M | $138.9M | $136.0M |
| (Gain) loss on disposition of properties and other investments | -$2.5M | $834.0K | $0 |
| Net unrealized holding losses (gains) on investments | $317.0K | $4.2M | -$1.6M |
| Stock compensation expense | $11.6M | $12.8M | $12.8M |
| Straight-line rents | -$4.2M | -$2.6M | -$1.4M |
| Equity in losses (earnings) of unconsolidated affiliates | $7.7M | -$15.2M | $7.7M |
| Distributions of operating income from unconsolidated affiliates | $4.2M | $22.9M | $3.8M |
| Amortization of financing costs | $8.4M | $8.0M | $6.5M |
| Non-cash lease expense | $4.0M | $3.7M | $3.6M |
| Adjustments to allowance for credit loss | $0 | $0 | -$1.2M |
| Acceleration of below market lease | $0 | $0 | -$8.1M |
| Loss on change in control | $9.6M | $0 | $0 |
| Impairment charges | $37.2M | $1.7M | $3.7M |
| Other, net | -$8.1M | -$5.1M | -$5.8M |
| Rents receivable | -$5.6M | -$6.7M | $2.5M |
| Other liabilities | -$10.1M | -$4.8M | $15.5M |
| Accounts payable and accrued expenses | -$6.1M | -$2.9M | $2.0M |
| Prepaid expenses and other assets | $7.1M | -$19.5M | -$14.8M |
| Lease liabilities - operating leases | -$4.0M | -$4.0M | -$3.7M |
| Net cash provided by operating activities | $167.0M | $140.4M | $155.8M |
| Acquisitions of properties | -$406.9M | -$161.5M | -$126.5M |
| Proceeds from the disposition of properties and other investments, net | $82.6M | $89.1M | $0 |
| Investments in unconsolidated affiliates | -$9.0M | -$33.8M | -$53.7M |
| Development, construction and property improvement costs | -$124.9M | -$80.2M | -$69.5M |
| Refund (payment) for properties under purchase contract | $6.5M | -$11.5M | $1.1M |
| Deposits for properties under sales contract | $0 | $0 | $1.5M |
| Increase in cash upon change of control | $6.8M | $0 | $0 |
| Return of capital from unconsolidated affiliates | $13.6M | $24.6M | $44.5M |
| Payment of deferred leasing costs | -$14.0M | -$9.3M | -$9.0M |
| Proceeds from sale of marketable securities | $14.5M | $14.3M | $4.6M |
| Proceeds from repayment of note receivable | $807.0K | $6.0M | $0 |
| Issuance of note receivable | -$20.3M | -$8.4M | -$1.4M |
| Net cash used in investing activities | -$450.5M | -$170.7M | -$208.5M |
| Proceeds from unsecured notes payable and line of credit | $928.8M | $435.4M | $284.0M |
| Principal payments on unsecured debt | -$557.2M | -$790.3M | -$209.6M |
| Proceeds from issuances of Common Shares | $277.5M | $459.9M | $0 |
| Capital contributions from noncontrolling interests | $18.8M | $51.1M | $59.9M |
| Principal payments on mortgages payable | -$264.5M | -$70.5M | -$112.3M |
| Proceeds received from mortgages payable | $62.4M | $92.2M | $132.9M |
| Distributions to noncontrolling interests | -$46.7M | -$42.0M | -$36.4M |
| Dividends paid to Common Shareholders | -$101.3M | -$76.3M | -$68.6M |
| Payment of deferred financing and other costs | -$5.8M | -$12.5M | -$4.0M |
| Acquisition of noncontrolling interest | -$9.9M | $0 | $0 |
| Payments of finance lease obligations | -$1.3M | -$2.4M | -$100.0K |
| Net cash provided by financing activities | $300.7M | $44.6M | $45.9M |
| Increase (decrease) in cash and restricted cash | $17.2M | $14.4M | -$6.9M |
| Cash paid during the period for interest, net of capitalized interest of $10,593 and $7,175 and $7,206 respectively | $108.7M | $118.7M | $119.5M |
| Cash paid for income taxes, net of refunds | $414.0K | $212.0K | $301.0K |
| Dividends/Distributions declared and payable | $28.4M | $24.4M | $18.4M |
| Assumption of accounts payable and accrued expenses through acquisition of real estate | $6.0M | $2.5M | $645.0K |
| Disposition of 146 Geary Street upon deed-in-lieu of foreclosure | $0 | $0 | $19.3M |
| Extinguishment of the obligations under the mortgage loan for 146 Geary Street upon deed-in-lieu of foreclosure | $0 | $0 | -$19.3M |
| Issuance of note receivable used as capital contributions from redeemable noncontrolling interests | $0 | $0 | $796.0K |
| Conversion of Common and Preferred OP Units to Common Shares | $2.4M | $20.9M | $0 |
| Accrued interest on note receivable recorded to redeemable noncontrolling interest | $11.1M | $11.8M | $9.3M |
| Recognition of non-refundable deposit upon expiration of sale agreement | $0 | $3.3M | $0 |
| Distributions to noncontrolling interests of marketable securities | $0 | $49.1M | |
| Property contributed to an unconsolidated affiliate | $0 | $2.4M | $0 |
| Adjustment of redeemable non-controlling interest to estimated redemption value | $3.4M | $0 | $0 |
| Accrued development, construction and property improvement costs included in Accounts payable and other liabilities | $16.0M | $6.7M | $1.1M |
| Note receivable and accrued interest exchanged for redeemable noncontrolling interest | $48.1M | $0 | $0 |
| Reclassification of investment in unconsolidated affiliate to marketable securities | $0 | $0 | $32.7M |
| Operating real estate | $201.7M | $0 | $0 |
| Mortgage and other notes payable | $156.1M | $0 | $0 |
| Investments in and advances to unconsolidated affiliates | -$28.5M | $0 | $0 |
| Rents receivable and other assets | $654.0K | $0 | $0 |
| Accounts payable and other liabilities | $4.5M | $0 | $0 |
| Noncontrolling interests | $29.6M | $0 | $0 |
| Cash paid for capitalized interest | $10.6M | $7.2M | $7.2M |
| Net settlements received on interest rate swap contracts, excluded from interest paid | $12.8M | $27.4M | |
| Net settlements paid on interest rate swap contracts, excluded from interest paid | $28.7M |
Former names
- MARK CENTERS TRUSTMay 15, 1996 to Apr 15, 19983
Timeline
- 1998Founded Founded1
Recent filings
- Aug 7, 2026SCHEDULE 13G
- Jul 31, 2026SCHEDULE 13G/A
- Jul 29, 202610-Q
- Jul 28, 20268-K
- Jun 12, 20268-K
- Jun 11, 2026424B5
- Jun 10, 2026424B5
- May 13, 20268-K
- May 13, 20264
- May 13, 20264
- May 13, 20264
- May 13, 20264
- May 13, 20264
- May 13, 20264
- May 13, 20264
Every filing from the last three years, summarized. The full record is on SEC EDGAR.2
Links
- Websitewww.acadiarealty.com1
- WikidataQ4671583
- SEC EDGARCIK 899629
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataAcadia Realty Trust on Wikidata
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