Acadia Realty: Street Retail And 4.2% Yield From Double-Digit Leasing Spreads

Pacifica Yield
12.63K Followers
(6min)

Summary

  • Acadia Realty Trust owns prime retail properties in high-barrier markets like Manhattan's SoHo and West Village. These are driving strong leasing spreads and healthy FFO growth.
  • First-quarter revenue and FFO showed double-digit growth, with FFO guidance for 2025 up 10.7% at the midpoint vs. 2024.
  • Dividend yield is 4.15% with a history of growth, with the REIT covering this by 155% to set up another hike.
  • Despite strong fundamentals and growth potential, near-term stock price underperformance and macro risks keep my rating at hold.

Soho

Joseph Gershon/iStock via Getty Images

Acadia Realty Trust (NYSE:AKR) owns retail properties in some of the most attractive and high-barrier retail corridors in the U.S. This includes NYC's SoHo, West Village, Williamsburg, and the Flatiron District. The internally managed equity REIT has a

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