Welcome to our dedicated page for Acadia Realty Trust news (Ticker: AKR), a resource for investors and traders seeking the latest updates and insights on Acadia Realty Trust stock.
Acadia Realty Trust (NYSE: AKR) is an equity real estate investment trust (REIT) committed to generating long-term growth and profitability through its dual-platform strategy comprising Core and Opportunity Fund investments. Acadia’s Core Portfolio includes high-quality retail properties located in densely populated urban and street-retail corridors across the United States. These locations provide a stable, long-term revenue stream. Simultaneously, Acadia's Opportunity Fund platforms allow for highly profitable, opportunistic, and value-add investments through a series of institutional funds.
In recent years, Acadia Realty Trust has demonstrated significant achievements, including achieving a cumulative total return of 1,388% over a 15-year period ending December 31, 2014. The company attributes its success to its distinct strategy and unwavering commitment to its core values—integrity, intensity, intelligence, and innovation. The trust continues to enhance its portfolio by acquiring, leasing, managing, and redeveloping properties in key metropolitan areas such as New York City, Washington, D.C., and San Francisco.
Financially, Acadia has maintained a strong balance sheet, with significant cash flow generated from its Core Portfolio and Funds. Recent financial highlights include GAAP net earnings of $0.20 per share for 2023 and projected 2024 earnings between $0.09 and $0.15 per share. Additionally, same-property net operating income (NOI) growth reached 5.8% for the full year of 2023.
Acadia Realty Trust has also expanded its investment management capabilities by forming strategic partnerships, such as the recent collaboration with J.P. Morgan Asset Management, aimed at acquiring retail assets. The company continues its focus on capital recycling, selling stabilized assets like the Shops at Grand Avenue to invest in higher-growth street retail assets. Acadia’s disciplined, location-driven investment strategy remains pivotal to its growth, enabling it to deliver sustainable returns to its investors while maintaining a robust portfolio of premier real estate assets.
Stay updated with Acadia Realty Trust's latest news, financial results, and strategic developments to better understand the company's ongoing performance and future growth prospects.
Acadia Realty Trust (NYSE: AKR) has declared a quarterly cash dividend of $0.19 per common share for the quarter ended December 31, 2024. The dividend will be paid on January 15, 2025, to shareholders of record as of December 31, 2024.
Cohen & Steers (NYSE: CNS) and Acadia Realty Trust have formed a joint venture to acquire The Walk at Highwoods, a 141,000 square foot open-air shopping center in Tampa, Florida. The fully occupied center features national retailers including HomeGoods, Michael's, and Dunkin'. Located in a high-growth suburban area, the property benefits from Tampa's strong economic growth, favorable tax environment, and expanding technology and financial sectors. The local market shows impressive metrics with 6.4% retail rent growth over the last 12 months and a low 2.3% vacancy rate. Open-air shopping centers nationally are at 95.7% occupancy, their highest level in 16 years.
Acadia Realty Trust (NYSE: AKR) reported strong Q3 2024 results with GAAP Net Earnings of $0.07 per share and FFO Before Special Items of $0.32 per share. The company achieved Core Same-Property NOI Growth of 5.9% and impressive GAAP and Cash New Leasing Spreads of 73% and 46%, respectively. Notable achievements include completing $150 million in accretive acquisitions, expanding their pipeline to $425 million, and raising approximately $320 million in common equity. The company reduced its Pro-Rata Net Debt-to-EBITDA to 5.6x and increased its Core Signed Not Open Pipeline to $10 million, representing about 7% of ABR.
Acadia Realty Trust (NYSE: AKR) has announced that it will release its third quarter 2024 earnings before the market opens on Monday, October 28, 2024. Following the release, the company will host a conference call at 11:00 AM ET on the same day to discuss the earnings and operating results.
Interested parties can participate in the conference call through a dial-in option or via webcast. The company will also make a webcast replay available on its website at www.acadiarealty.com/investors under the Investors, Presentations, Events & Acquisitions section.
Acadia Realty Trust (NYSE: AKR) has announced the pricing of an upsized underwritten offering of 5,000,000 common shares at $23.25 per share. This is an increase from the previously announced 4,500,000 shares. The underwriters have a 30-day option to purchase up to an additional 750,000 shares. The offering is expected to close on October 2, 2024.
The company has entered into forward sale agreements with Wells Fargo Bank, Goldman Sachs & Co. , and Jefferies. Acadia intends to settle these agreements by September 30, 2025, potentially receiving cash proceeds. The company plans to use any net proceeds for general corporate purposes, including funding investments, working capital, and debt repayment.
Acadia Realty Trust (NYSE: AKR) has announced an underwritten public offering of 4,500,000 common shares. The company plans to enter into forward sale agreements with Wells Fargo Bank, Goldman Sachs & Co. , and Jefferies or their affiliates. These forward purchasers or their affiliates will borrow and sell the shares to underwriters for the offering.
Acadia intends to settle the forward sale agreements by September 30, 2025, receiving cash proceeds per share equal to the applicable forward sale price. The company plans to use the net proceeds for general corporate purposes, including funding potential investments, working capital, and debt repayment. Acadia is also granting underwriters a 30-day option to purchase up to an additional 675,000 common shares.
Acadia Realty Trust (NYSE: AKR) has announced its participation in the BofA Securities 2024 Global Real Estate Conference, scheduled for September 10-12, 2024. The company's President and CEO, Kenneth F. Bernstein, will engage in a roundtable discussion on Wednesday, September 11, 2024, at 3:45 p.m. ET.
Acadia will make its presentation materials available on its website under the 'Investors - Presentations & Events' section. Additionally, the company plans to hold individual meetings with investors during the conference, providing an opportunity for more in-depth discussions about its operations and strategy.
Acadia Realty Trust (NYSE: AKR) has announced its participation in the BofA Securities 2024 Global Real Estate Conference, scheduled for September 10-12, 2024. The company's President and CEO, Kenneth F. Bernstein, will engage in a roundtable discussion on Wednesday, September 11, 2024, at 4:30 pm ET.
Acadia will make its presentation materials available on its website under the 'Investors - Presentations & Events' section. Additionally, the company plans to host individual meetings with investors during the conference. This announcement serves as a correction to the previous release dated September 4, 2024, which contained multiple revisions.
Acadia Realty Trust (NYSE: AKR) has reported its second quarter 2024 results. The company achieved GAAP net earnings of $0.01 per share and FFO Before Special Items of $0.31 per share. Acadia's Core Same-Property NOI grew by 5.5%, driven by a 12% increase from its Street Portfolio. The company also increased its quarterly dividend by 5.6% to $0.19 per share.
Acadia completed or is negotiating approximately $150 million in accretive transactions. During the quarter, Acadia strengthened its balance sheet by announcing $100 million in private placement unsecured notes and extending its $750 million unsecured credit facility to 2028. The company's core portfolio was 94.8% leased and 91.8% occupied.
Acadia has updated its 2024 guidance, projecting net earnings per share of $0.07-$0.11, NAREIT FFO per share of $1.09-$1.13, and FFO Before Special Items per share of $1.26-$1.32.
Acadia Realty Trust (NYSE: AKR) will announce its second quarter 2024 earnings on July 30, 2024, after the market closes. The company has scheduled a conference call for July 31, 2024, at 11:00 AM ET to discuss the earnings and operating results. Investors can listen to the live conference call or access a replay via the company's website under the Investors section.
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