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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 announced its participation in the upcoming Citi 2025 Global Property CEO Conference in Hollywood, FL, scheduled for March 2-5, 2025. The company's President and CEO, Kenneth F. Bernstein, will deliver a presentation on Monday, March 3, 2025, at 5:00 p.m. ET. During the conference, Acadia will engage in individual meetings with investors, and presentation materials will be made available on the company's website under the 'Investors – Presentations & Events' section.
Acadia Realty Trust (NYSE:AKR) has announced its 2025 Annual Shareholder Meeting will be held virtually on Thursday, May 8, 2025, at 1:00 PM ET. Shareholders will be able to participate in the meeting through a live webcast at www.virtualshareholdermeeting.com/AKR25, where they can attend, vote, and submit questions. Prior to the meeting, shareholders can cast their votes at www.proxyvote.com.
Acadia Realty Trust (AKR) reported strong Q4 2024 performance with GAAP net earnings of $0.07 per share and FFO Before Special Items of $0.32 per share. The company achieved 5.7% Core Same-Property NOI growth in Q4 2024, driven by over 12% growth from its street portfolio.
During Q4 2024 and early 2025, AKR completed approximately $611 million in acquisitions, including $306 million in Core acquisitions and $305 million in Investment Management acquisitions. The company raised net proceeds of $738.3 million through share issuances at an average price of $21.65 per share.
Key operational highlights include improved occupancy rates to 95.8% leased and 93.1% occupied, with strong leasing spreads of 63% GAAP and 34% cash for 2024. The company increased its quarterly dividend by 5.3% to $0.20 per share and provided 2025 guidance projecting FFO Before Special Items of $1.30-$1.39 per share and same-property NOI growth of 5-6%.
Acadia Realty Trust (NYSE: AKR) has released its tax reporting information for 2024 distributions. The company paid quarterly distributions totaling $0.730000 per share throughout 2024, with payments made in January ($0.180000), April ($0.180000), July ($0.180000), and October ($0.190000).
Of the total distribution, $0.684064 is classified as ordinary dividend, including $0.004951 as qualified dividend and $0.679113 as Section 199A dividend. The capital gain distribution amounts to $0.045936. All 2024 ordinary dividends qualify for the 20% deduction available to non-corporate shareholders under IRC Section 199A.
Acadia Realty Trust (NYSE: AKR) has scheduled its fourth quarter 2024 earnings release for Tuesday, February 11, 2025, after market close. The company will host a conference call to discuss the results on Wednesday, February 12, 2025, at 11:00 AM ET. Management will review earnings and operating results during the call, which will be accessible via both phone dial-in and webcast. A replay of the webcast will be available on the company's investor relations website under the Presentations, Events & Acquisitions section.
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.
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