Acadia Realty Trust: Strong NOI Growth Pipeline But Little Immediate Benefit From Fed Easing
Acadia Realty Trust(AKR) Seeking Alpha·2024-08-20 01:21
ferrantraite/E+ via Getty ImagesIntroduction Acadia Realty Trust (NYSE:AKR) has significantly outperformed the Vanguard Real Estate Index Fund ETF (VNQ) so far in 2024, delivering a ~28.5% total return against the mid-single-digit gain for the benchmark ETF: AKR vs VNQ in 2024 (Seeking Alpha)This has resulted in net debt only accounting for 35% of the company's enterprise value. Coupled with a small proportion of floating-rate debt relative to peers, the company will see little tailwinds from Fed rate c ...