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Acadia Realty Trust cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$19.9M in Q3 2026 · $56.0M over twelve months

Operating cash flow$42.9M
Capital spending−$22.9M
Free cash flow+$19.9M

Analysis

In Q3 2026, Acadia Realty Trust generated $42.9M of operating cash flow and spent $22.9M on capital projects, leaving free cash flow of $19.9M. That is $24.7M more than in Q3 2025 (−$4.8M).

Over the twelve months to Sep 30, 2026, operating cash flow was $174M; the largest uses were real estate bought ($341M), partners ($206M), net borrowing (+) / repaid (−) ($160M); besides operations, cash came from asset & business sales ($604M), shares issued ($143M); the cash balance fell by $25.7M.

Operating cash flow was $42.9M against net income of −$5.6M. The largest differences: depreciation & amortization +$35.6M, impairments +$11.7M, other liabilities +$9.6M.

Free cash flow

Acadia Realty Trust: free cash flow by quarterAcadia Realty Trust: free cash flow by quarter$20.0MQ4 2024$6.3MQ1 2025$36.9MQ2 2025−$4.8MQ3 2025$3.7MQ4 2025−$857KQ1 2026$33.2MQ2 2026$19.9MQ3 2026
Operating cash flow less capital spending.
Acadia Realty Trust: operating cash flow against capital spendingAcadia Realty Trust: operating cash flow against capital spendingOperating cash flowCapital spending$37.9M$17.9MQ4 2024$25.9M$19.6MQ1 2025$64.8M$27.9MQ2 2025$34.3M$39.1MQ3 2025$42.0M$38.3MQ4 2025$31.4M$32.2MQ1 2026$58.3M$25.1MQ2 2026$42.9M$22.9MQ3 2026
Latest (Q3 2026): Operating cash flow $42.9M, Capital spending $22.9M.

Capital allocation, year by year

Acadia Realty Trust: where the cash came from (up) and went (down), by fiscal yearAcadia Realty Trust: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsDividendsFY2021: Operating cash flow $105MFY2021: Net borrowing $92.9MFY2021: Shares issued $63.9MFY2021: Asset sales $63.9MFY2021: Capital spending −$40.7MFY2021: Acquisitions −$162MFY2021: Dividends −$39.5M$326MFY2021FY2022: Operating cash flow $133MFY2022: Net borrowing $171MFY2022: Shares issued $119MFY2022: Asset sales $225MFY2022: Capital spending −$51.0MFY2022: Acquisitions −$243MFY2022: Dividends −$64.6M$648MFY2022FY2023: Operating cash flow $156MFY2023: Net borrowing $74.3MFY2023: Capital spending −$69.5MFY2023: Dividends −$68.6M$230MFY2023FY2024: Operating cash flow $140MFY2024: Net borrowing −$357MFY2024: Shares issued $460MFY2024: Asset sales $89.1MFY2024: Capital spending −$80.2MFY2024: Dividends −$76.3M$689MFY2024FY2025: Operating cash flow $167MFY2025: Net borrowing −$496MFY2025: Shares issued $278MFY2025: Asset sales $82.6MFY2025: Capital spending −$125MFY2025: Dividends −$101M$527MFY2025
Over these 5 years operating cash flow totalled $701M; the largest uses were net borrowing ($853M) and acquisitions ($404M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$38.0M
Debt$1.8B
Net debt$1.8B
Due within a year$292M

Acadia Realty Trust funds itself: free cash flow was $56.0M over the last twelve months, and $38.0M of cash and investments stands against $1.8B of debt ($292M due within a year, 0.1× covered by cash).

Acadia Realty Trust: debt maturities by year (FY2025)Acadia Realty Trust: debt maturities by year (FY2025)$292MYear 1$310MYear 2$845MYear 3$98.3MYear 4$327MYear 5$1.1MAfter year 5
Principal due in each year as disclosed in the annual report, against $38.0M of cash and investments now.

Where the cash came from and went

Acadia Realty Trust: sources (+) and uses (−) of cash, Q3 2026Acadia Realty Trust: sources (+) and uses (−) of cash, Q3 2026Other financing$221MReal estate bought−$145MOther investing−$54.6MOperating cash flow$42.9MNet borrowing (+) / repaid (−)−$39.8MDividends−$27.5MCapital spending−$22.9MShares issued$15.3MAsset & business sales$11.4MPartners−$529KCash drawn (+) / kept (−)−$74K
Acadia Realty Trust: sources (+) and uses (−) of cash, TTM to Q3 2026Acadia Realty Trust: sources (+) and uses (−) of cash, TTM to Q3 2026Asset & business sales$604MReal estate bought−$341MPartners−$206MOperating cash flow$174MNet borrowing (+) / repaid (−)−$160MShares issued$143MCapital spending−$118MOther investing−$108MDividends−$107MOther financing$92.5MCash drawn (+) / kept (−)$25.7M

From profit to cash

Acadia Realty Trust: net income to operating cash flow, Q3 2026Acadia Realty Trust: net income to operating cash flow, Q3 2026Net income−$5.6MDepreciation & amortization$35.6MStock-based pay$3.4MImpairments$11.7MGains on disposals−$200KOther non-cash−$1.3MReceivables−$4.3MPayables−$2.0MPrepaid and other assets−$5.4MOther liabilities$9.6MOperating cash flow$42.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$42.9M−$22.9M−$27.5M−$39.8M$15.3M−$74K$19.9M
Q2 2026$58.3M−$25.1M−$26.7M−$215M$71.5M−$443K$33.2M
Q1 2026$31.4M−$32.2M−$26.2M−$271M$55.8M$8.1M−$857K
Q4 2025$42.0M−$38.3M−$26.2M$235M−$13K$18.1M$3.7M
Q3 2025$34.3M−$39.1M−$26.2M$86.3M—−$7.2M−$4.8M
Q2 2025$64.8M−$27.9M−$26.2M$177M—−$11.5M$36.9M
Q1 2025$25.9M−$19.6M−$22.7M−$69.8M$278M−$16.6M$6.3M
Q4 2024$37.9M−$17.9M−$21.6M−$43.4M$131M$29.6M$20.0M

Acadia Realty Trust: income statement and cash flow

Acadia Realty Trust, Q3 2026: revenue $95.0M (-6% year over year), operating margin 10.8%. The chart follows the revenue to costs, profit and cash.

Acadia Realty Trust: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.