secwatch.observer — SEC 8-K summary
======================================

Issuer:     ACADIA REALTY TRUST (AKR)
CIK:        0000899629
Form:       8-K
Filed at:   2024-04-29T23:59:59+00:00
Accession:  0000950170-24-049964
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/899629/000095017024049964/0000950170-24-049964-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/899629/000095017024049964/akr-20240429.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-049964

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer