Acadia Realty Trust (AKR) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Acadia Realty Trust published the results on November 2, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Acadia Realty Trust reports EPS two ways: GAAP, under the accounting rules every US filer follows, and FFO As Adjusted per share, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Revenue here is the line Acadia calls total revenues (rental plus other revenue). As a REIT, Acadia's own headline per-share measures are NAREIT FFO and FFO As Adjusted, shown here in place of adjusted EPS.
• The segment rows add each segment's rental and other revenue from the 10-Q segment table. Investment Management figures are consolidated amounts, not Acadia's proportionate share.
• Q3 2026 GAAP results include an $11.7 million non-cash impairment charge, or $0.08 per share, on two REIT Portfolio properties being sold.

Source: Acadia Realty Trust Q3 2026 results, November 2, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Acadia Realty Trust splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Acadia Realty Trust's REIT Portfolio revenue was $66.5 million in Q3 2026, up 15% from $58.0 million in Q3 2025, 70% of total revenue.
• Acadia Realty Trust's Investment Management revenue was $28.5 million in Q3 2026, down 34% from $43.0 million in Q3 2025, 30% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Acadia Realty Trust said:

“The Company has maintained its full-year NAREIT FFO and 2026 FFO As Adjusted Guidance. It revised net earnings per share to $0.29-$0.30 from $0.40-$0.41.”

“Projected 2026 FFO As Adjusted per diluted share $1.24-$1.26”

“Same-property NOI growth for the nine months ended September 30, 2026 was 8.3% compared to the same period in 2025, and the Company anticipates full-year 2026 same-property NOI growth of 7.5% to 8.5%.”

Source: Acadia Realty Trust Q3 2026 release and supplemental, Nov 2, 2026.

This is the company's own guidance as of Nov 2, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the AKR forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Total revenues and GAAP diluted net earnings per share, each as first reported in that quarter's release.

We do not hold a confirmed date for Acadia Realty Trust's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 2, 2026

Acadia Realty Trust owns street and open-air retail properties (the REIT Portfolio) and runs an Investment Management platform of opportunity funds and co-investment vehicles. Total revenues were $95.0 million in Q3 2026, down from $101.0 million. Almost all of it is rental revenue: $90.4 million, plus $4.6 million of other revenue. (Acadia Realty Trust Q3 2026 release, Nov 2, 2026)

The two segments moved in opposite directions. REIT Portfolio rental revenue rose to $65.2 million from $57.2 million, which the 10-Q attributes to $4.8 million from acquisitions completed in 2025 and 2026 and $3.0 million from tenant lease-up. Investment Management rental revenue fell $16.4 million, to $25.2 million, after property dispositions and the Fund V recapitalization in 2026. (Acadia Realty Trust Form 10-Q, Q3 2026, Nov 2, 2026)

Acadia's growth is in street retail. REIT Portfolio same-property NOI grew 10.2% in Q3 2026, led by 15.2% growth in street retail. New leases were signed at GAAP and cash spreads of 98% and 62%, and the signed-not-open pipeline of annualized base rent grew 32% to $21.8 million from $16.5 million at June 30, 2026. (Acadia Realty Trust Q3 2026 release, Nov 2, 2026)

Acadia completed about $152 million of street retail acquisitions in the quarter, including 69-73 Greene Street in Soho for $66 million, 8800-8804 Melrose Avenue in West Hollywood for $30 million and 44 Main Street in Westport for $23 million. Year-to-date acquisitions reached $775 million, about $436 million at Acadia's share. (Acadia Realty Trust Q3 2026 release, Nov 2, 2026)

Acadia's largest REIT Portfolio tenant by annualized base rent is Target, at 4.3% of ABR on a pro-rata basis, followed by J. Crew Group at 3.3% and Lululemon at 2.4%. Average ABR per square foot for the REIT Portfolio was $41.57 at September 30, 2026, against $38.23 a year earlier. (Acadia Realty Trust Q3 2026 supplemental report, Nov 2, 2026)

Acadia Realty Trust reported a GAAP net loss of $0.03 per share in Q3 2026, against net earnings of $0.03 a year earlier. Acadia said the decline was primarily due to an $11.7 million non-cash impairment charge, or $0.08 per share, on two properties in the process of being sold. (Acadia Realty Trust Q3 2026 release, Nov 2, 2026)

As a REIT, Acadia's own per-share measures are NAREIT FFO, which adds back real estate depreciation, impairments and gains on property sales, and FFO As Adjusted, which also removes transaction and other expenses. NAREIT FFO was $44.5 million, or $0.30 per share, against $0.28, and FFO As Adjusted was $45.2 million, or $0.31 per share, against $0.29. (Acadia Realty Trust Q3 2026 release, Nov 2, 2026)

Diluted weighted average common shares and units rose to 146.2 million from 139.0 million. Acadia settled about 0.8 million shares of forward equity contracts for about $15.6 million in the quarter and had unsettled contracts for 17.0 million shares, worth about $351 million in net proceeds, at September 30, 2026. The quarterly dividend was $0.20 per share, unchanged. (Acadia Realty Trust Q3 2026 release, Nov 2, 2026; Acadia Realty Trust Q3 2026 supplemental report, Nov 2, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Acadia Realty Trust gives full-year guidance in its release. With Q3 2026 results it kept 2026 NAREIT FFO guidance at $1.19 to $1.21 per share and FFO As Adjusted at $1.24 to $1.26, and lowered net earnings per share guidance to $0.29 to $0.30 from $0.40 to $0.41; the revised reconciliation now includes $0.08 per share of impairment charges. (Acadia Realty Trust Q3 2026 release, Nov 2, 2026)

Acadia now expects 2026 same-property NOI growth of 7.5% to 8.5%, narrowed from 5% to 9% in July. Same-property NOI grew 8.3% over the first nine months. (Acadia Realty Trust Q3 2026 release, Nov 2, 2026; Acadia Realty Trust Q3 2026 supplemental report, Nov 2, 2026)

A consensus figure is the average of the models published by the analysts who cover Acadia Realty Trust, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Acadia Realty Trust's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning AKR is on is AKR a buy or a sell?, what analysts expect next is on the AKR forecast, and what the company does is on the Acadia Realty Trust (AKR) stock page.

Every number on this page can be traced to a document Acadia Realty Trust published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.