Acadia Realty cuts 2022 guidance by $0.11/share as Albertsons special dividend blocked by TRO

ACADIA REALTY TRUST

Albertsons' $6.85/share special dividend delayed by Washington temporary restraining order; hearing set for Jan 17, 2023.
Acadia will not recognize its ~$0.11/share pro-rata dividend in FY 2022, reducing net loss guidance to ($0.30)–($0.25) per share.
FFO Before Special Items guidance lowered to $1.17–$1.19 per share from $1.28–$1.30 previously.
Other guidance assumptions (e.g., same-store NOI, acquisitions) remain unchanged.
Albertsons and Kroger merger agreement remains in place; dividend resolution pending court review.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ACADIA REALTY TRUST reported fiscal year 2022 results: EPS ($0.30) to ($0.25) per share attributable to Common Shareholders. Guidance lowered.

Period: fiscal year 2022
EPS: ($0.30) to ($0.25) per share attributable to Common Shareholders
Guidance: lowered
Result: guidance update

Exact text from the filing

Acadia will not recognize its share of the Special Dividend in fiscal year 2022 and is therefore reducing its full year 2022 guidance for (i) Net (loss) earnings; (ii) NAREIT Funds from operations; (iii) Net Promote and other Core and Fund profits and (iv) Funds from operations Before Special Items each by $0.11 per share attributable to Common Shareholders and Common OP Unit Holders.

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Source: SEC EDGAR

accession 0000950170-23-000245

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