Acadia Realty Trust CEO Says Retail Real Estate in Recovery Mode

12/01/2020 | by Sarah Borchersen-Keto

Ken Bernstein, president and CEO of Acadia Realty Trust (NYSE: AKR), participated in a video interview in conjunction with Nareit’s REITworld: 2020 Annual Conference.

Bernstein noted that retail real estate in the United States “was really at the epicenter of the crisis this spring and has thankfully been climbing out.” He noted that back in April, about half of the REIT’s tenants were not paying rent, and that now rent collections stand at about 90%.

“If this crisis has taught us anything, it’s to be prepared for the broadest range of outcomes,” Bernstein said.

Companies:

Company name

Acadia Realty Trust

Retail

1 Year Total Return

86.92% As of market close 10/30/2024

Stock price

$24.59

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What's a REIT?

REITs, or real estate investment trusts, are companies that own or finance income-producing real estate across a range of property sectors. These real estate companies have to meet a number of requirements to qualify as REITs. Most REITs trade on major stock exchanges, and they offer a number of benefits to investors.

Why Invest in REITs

REITs historically have delivered competitive total returns, based on high, steady dividend income and long-term capital appreciation. Their comparatively low correlation with other assets also makes them an excellent portfolio diversifier that can help reduce overall portfolio risk and increase returns. These are the characteristics of real estate investment.

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Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses.