Acadia Rlty Tr Stock Price, News & Analysis

Acadia Realty Trust (NYSE: AKR) announced it would not recognize its share of a Special Dividend from Albertsons Companies, Inc., expected in Q4 2022. The Special Dividend of approximately $6.85 per share, initially declared on October 14, 2022, was halted due to a restraining order from the Washington Attorney General. Consequently, Acadia revised its 2022 guidance, reducing earnings forecasts by $0.11 per share, affecting metrics such as Net earnings and NAREIT Funds from operations. The new guidance reflects a loss range of ($0.30) to ($0.25) per share.

Acadia Realty Trust (NYSE:AKR) declared a cash dividend of $0.18 per common share for the quarter ended December 31, 2022. The dividend is payable on January 13, 2023 to shareholders on record as of December 30, 2022. Acadia Realty Trust focuses on long-term growth via its Core Portfolio and Fund operating platforms, aiming for profitable investments through disciplined strategies.

Acadia Realty Trust (NYSE: AKR) reported a net loss per share of $0.61 for Q3 2022, primarily due to $58.5 million in non-cash impairment charges. Despite this, the company achieved a 5.4% increase in same-property net operating income (NOI) for the quarter and updated its guidance for FFO Before Special Items to $1.28 to $1.30 per share. Leasing activity improved, with GAAP leasing spreads of 27.4% in Q3. Acadia's balance sheet remained strong, with 93% of Core Portfolio debt fixed. The company remains optimistic about its portfolio's growth amid economic uncertainties.

Acadia Realty Trust (NYSE: AKR) plans to release its third quarter 2022 earnings on November 1, 2022, after market close. A conference call is scheduled for November 2, 2022 at 11:00 AM ET to discuss the earnings and operating results. Investors can register and access the webcast through the company's website. Acadia Realty Trust focuses on long-term, profitable growth through a core portfolio and disciplined investment strategy.

Acadia Realty Trust (NYSE: AKR) announced the appointment of Mark Denien to its Board of Trustees and Audit Committee, effective October 11, 2022. Denien, a finance and real estate expert with over 20 years of experience, previously served as CFO at Duke Realty Corporation. Concurrently, Lorrence T. Kellar will retire from the Board at the 2023 annual shareholder meeting, marking a step in the Company’s board refreshment strategy. The leadership changes aim to bolster the board's financial expertise as Acadia continues its long-term growth strategy.

Acadia Realty Trust (NYSE: AKR) announced leasing updates, fund transactions, and a key promotion. Following June 30, 2022, the company signed new leases with pro-rata annual base rents of approximately $2.1 million, boosting total signed but not commenced rents to $8.8 million, a 30% increase. In September 2022, Acadia executed two leases at City Point in Downtown Brooklyn totaling 37,000 square feet, generating $1.5 million in ABR. Additionally, Fund V acquired a 90% interest in the Shoppes at South Hills for $47 million. Reggie Livingston was promoted to lead the acquisition team.

Acadia Realty Trust (NYSE: AKR) announced a cash dividend of $0.18 per common share for the quarter ended September 30, 2022, payable on October 14, 2022. The record date for this dividend is September 30, 2022. Acadia focuses on long-term growth through its Core Portfolio and Fund strategies, with a strong emphasis on location-driven investments in dynamic markets. The company aims to maintain a robust balance sheet while fostering profitable growth through strategic development and redevelopment endeavors.

Acadia Realty Trust (NYSE: AKR) reported its Q2 2022 financial results, revealing a net loss per share of $0.00, and year-to-date earnings per share of $0.17. The company's Funds from Operations (FFO) Before Special Items per share reached $0.32, while NAREIT FFO per share stood at $0.23. Acadia's Core Portfolio exhibited a 4.8% increase in same-property net operating income (NOI). The company also completed an $85 million acquisition in Dallas and refinanced City Point in Brooklyn. Updated guidance for 2022 indicates expected FFO Before Special Items between $1.20 and $1.32 per share.

Acadia Realty Trust (NYSE: AKR) will announce its second quarter 2022 earnings on August 2, 2022, after market close. A conference call is scheduled for August 3, 2022, at 12:00 PM ET to discuss its financial results. Acadia, focused on long-term growth through its Core Portfolio and Fund strategies, emphasizes a disciplined, location-driven investment approach. The company aims to develop a top-tier real estate portfolio while making profitable investments. Stakeholders are encouraged to monitor updates via their investor page for significant nonpublic information.