Acadia Realty Q1 FFO Before Special Items $0.33; Same-Property NOI up 5.7%

ACADIA REALTY TRUST

2024-Q1 EPS reported $0.03 revenue$91,356,000

GAAP net earnings $0.03 per share (down from $0.14 Q1 2023); NAREIT FFO $0.28 per share.
FFO Before Special Items $0.33 per share; includes $0.04 realized gains from Albertsons stock sale.
Same-property NOI grew 5.7% driven by Street Portfolio; Core cash rent spreads 16% (37% on D.C. street lease).
Core Portfolio 94.4% leased; SNO pipeline $7.7M annual base rents (5.5% of in-place). Reaffirmed 2024 FFO guidance.
Extended $750M unsecured credit facility to 2028 at same pricing; core net debt-to-EBITDA improved to 6.1x.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ACADIA REALTY TRUST reported quarter ended March 31, 2024 results: net income $3.0 million, or $0.03 per share. Guidance reaffirmed.

Period: quarter ended March 31, 2024
Net income: $3.0 million, or $0.03 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On April 29, 2024, Acadia Realty Trust (the “Company”) issued a press release announcing its consolidated financial results for the quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0000950170-24-049964

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