Acadia Realty Q3 net loss $0.02/share, FFO $0.26; same-property NOI up 5.8%

ACADIA REALTY TRUST

2023-Q3 EPS reported $0.21 revenue$253,179,000

Net loss of $1.7M ($0.02/share) vs loss of $57.9M ($0.61) in prior year; impairment of $3.7M on Fund asset.
NAREIT FFO $0.26/share; FFO Before Special Items $0.27/share, including $2.4M realized investment gains.
Core same-property NOI grew 5.8% in Q3 and 5.9% YTD; portfolio 95.3% leased, 92.4% occupied.
Signed new street leases in Soho/Williamsburg with cash spreads 45%-95% totaling over $4M annual base rents.
Updated 2023 FFO guidance: NAREIT FFO $1.32-$1.35; FFO Before Special Items $1.29-$1.32; mid-point above 5% YoY growth.

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