Acadia Realty Trust reports news on its equity REIT business owning and operating street and open-air retail properties in high-demand retail corridors. Company updates commonly cover REIT Portfolio operating results, same-property NOI, leasing spreads, occupancy, funds from operations, quarterly dividends, and acquisitions of retail real estate assets.
Acadia also reports developments from its Investment Management platform, which targets opportunistic and value-add retail investments through institutional co-investment vehicles. Recurring announcements include portfolio transactions, joint venture activity, capital deployment, annual meeting notices, management changes, and investor conference participation.
Acadia Realty Trust (NYSE: AKR) has announced several year-end promotions to bolster its growth strategy. Jason Blacksberg is now Executive Vice President, Chief Legal Officer, overseeing legal and governance matters. Reggie Livingston is promoted to Senior Vice President, Chief Investment Officer, leading the acquisitions team. Heather Moore becomes Senior Vice President, Leasing Operations and Chief Compliance Officer, while Kevin Fitzgerald is now Vice President, Controller. Also, Stuart Seeley joins as Senior Managing Director of Strategy and Public Markets to enhance investor relations. Amy Racanello resigned as Senior Vice President, Capital Markets, effective February 3, 2023.
Acadia Realty Trust (NYSE: AKR) will report its fourth quarter 2022 earnings on February 14, 2023, after market close. A conference call is scheduled for February 15, 2023, at 11:00 AM ET to discuss the earnings and operational results. Investors can register for the call and access the webcast on the company’s website. Acadia focuses on long-term growth through its core real estate portfolio and opportunistic investments. With a disciplined, location-driven strategy, the company aims to maintain a strong balance sheet while navigating potential risks, including impacts from the COVID-19 pandemic and economic fluctuations.
Acadia Realty Trust (NYSE: AKR) announced the federal tax treatment for 2022 distributions to common shareholders. The fourth-quarter 2022 distribution of $0.180 per share, paid on January 13, 2023, is classified as a 2023 payment for tax purposes. All ordinary dividends are eligible for a 20% deduction as per Internal Revenue Code Section 199A for non-corporate shareholders. Acadia Realty Trust continues to focus on long-term profitable growth through its Core Portfolio and Fund operating platforms, while encouraging shareholders to consult tax advisors regarding their distributions.
Acadia Realty Trust (NYSE:AKR) announced a cash dividend of $0.18 per common share for Q1 2023, payable on April 14, 2023, to shareholders of record by March 31, 2023. This dividend reflects Acadia's commitment to providing returns to its shareholders, indicating stable cash flows and financial health. The company focuses on long-term growth through its Core Portfolio and Fund platforms, investing in high-demand locations and maintaining a strong balance sheet. Investors are encouraged to monitor the company’s investor page for further updates and disclosures.
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.