Acadia Realty Trust Q2 FFO $0.31; raises 2024 guidance and dividend

ACADIA REALTY TRUST

2024-Q2 EPS reported $0.04 revenue$178,610,000

GAAP net earnings $0.01 per share; FFO Before Special Items $0.31 per share.
Core same-property NOI grew 5.5%, driven by ~12% growth in Street Portfolio.
Increased full-year 2024 FFO Before Special Items guidance to $1.26-$1.32/share (from $1.24-$1.32).
Quarterly dividend raised 5.6% to $0.19 per share, payable Oct 15, 2024.
Announced $100M private placement of unsecured notes at 5.94% (5yr) and 5.86% (3yr).

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