AKR - Acadia Realty Trust
Price:
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CONSENSUS:
Buy
DETAILS
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PRICE TARGET:
$20.50
DETAILS
HIGH:
$27.00
LOW:
$16.00
MEDIAN:
$19.50
CONSENSUS:
$20.50
DOWNSIDE:
7.49%
AlphaVal
Deterministic, archetype-aware fair value
Real Estate Investment Trust
85% confidence
Primary model: P/FFO × Retail REIT Multiple
Adjust Assumptions
16.8x
$
Key Value Driver
FFO/share ($1.28) × retail P/FFO multiple
Implied Market Multiple
17.3x
Plain-Language Summary
Our base-case estimate uses P/FFO × Retail REIT Multiple. We then blend that result with the average analyst price target of $20.50 from 12 analysts, using a 20% weight on analyst consensus. That produces an estimated intrinsic value of $21.28 per share.
Warnings
Standard profit figures are misleading for real estate companies — large non-cash accounting charges make profits look artificially low. Dividend yield and funds from operations are better measures.
Key Risks
- P/E and EV/EBITDA are structurally wrong for REITs — use P/FFO and NAV
- Interest rate sensitivity: REIT multiples compress when rates rise
- FFO approximation (NI + D&A) may include gains on property sales — verify