Acadia Realty Trust to Announce First Quarter 2023 Earnings on May 2, 2023

Rhea-AI Summary

Acadia Realty Trust (NYSE: AKR) is set to announce its first quarter 2023 earnings on May 2, 2023, after market close. A conference call to discuss these results will occur on May 3, 2023, at 10:00 AM ET. The company focuses on long-term growth through its Core Portfolio and Fund operating strategies, concentrating assets in dynamic markets while maintaining a robust balance sheet. Acadia Realty Trust aims to provide transparency via its Investor Relations page and will utilize this for disclosing material information. Investors should be aware of potential risks affecting the company, including economic uncertainties related to the COVID-19 pandemic, inflationary pressures, and the ability to refinance debt.

Positive

• Management's continued focus on long-term, profitable growth through a dual operating platform.
• Strong emphasis on location-driven investments in dynamic market areas.

Negative

• Risks associated with tenants' ability to meet rent obligations due to pandemic impacts.
• Increased borrowing costs anticipated due to rising inflation and interest rates.

RYE, N.Y.--(BUSINESS WIRE)-- Acadia Realty Trust (NYSE: AKR) (“Acadia” or the “Company”) will release its first quarter 2023 earnings on Tuesday, May 2, 2023, after market close. Management will conduct a conference call on Wednesday, May 3, 2023, at 10:00 AM ET to review the Company’s earnings and operating results. Participant registration and webcast information is listed below.

Live Conference Call:
Date:		Wednesday, May 3, 2023
Time:		10:00 AM ET
Participant Registration:		First Quarter 2023 Registration
Webcast Listen-only and Replay:		www.acadiarealty.com under Investors, Presentations & Events

About Acadia Realty Trust

Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual – Core Portfolio and Fund – operating platforms and its disciplined, location-driven investment strategy. Acadia Realty Trust is accomplishing this goal by building a best-in-class core real estate portfolio with meaningful concentrations of assets in the nation’s most dynamic corridors; making profitable opportunistic and value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet. For further information, please visit www.acadiarealty.com.

The Company uses, and intends to use, the Investors page of its website, which can be found at www.acadiarealty.com, as a means of disclosing material nonpublic information and of complying with its disclosure obligations under Regulation FD, including, without limitation, through the posting of investor presentations that may include material nonpublic information. Accordingly, investors should monitor the Investors page, in addition to following the Company’s press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, the website is not incorporated by reference into, and is not a part of, this document.

Safe Harbor Statement

Certain statements in this press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations are generally identifiable by the use of words, such as “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend” or “project,” or the negative thereof, or other variations thereon or comparable terminology. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the Company's actual results and financial performance to be materially different from future results and financial performance expressed or implied by such forward-looking statements, (including accretion and guidance statements), including, but not limited to: (i) the economic, political and social impact of, and uncertainty surrounding the COVID-19 Pandemic or future pandemics, including its impact on the Company’s tenants and their ability to make rent and other payments or honor their commitments under existing leases; (ii) macroeconomic conditions, such as a disruption of or lack of access to the capital markets and rising inflation; (iii) the Company’s success in implementing its business strategy and its ability to identify, underwrite, finance, consummate and integrate diversifying acquisitions and investments; (iv) changes in general economic conditions or economic conditions in the markets in which the Company may, from time to time, compete, and their effect on the Company’s revenues, earnings and funding sources; (v) increases in the Company’s borrowing costs as a result of rising inflation, changes in interest rates and other factors, including the discontinuation of the USD London Interbank Offered Rate, which is currently anticipated to occur in 2023; (vi) the Company’s ability to pay down, refinance, restructure or extend its indebtedness as it becomes due; (vii) the Company’s investments in joint ventures and unconsolidated entities, including its lack of sole decision-making authority and its reliance on its joint venture partners’ financial condition; (viii) the Company’s ability to obtain the financial results expected from its development and redevelopment projects; (ix) the tenants’ ability and willingness to renew their leases with the Company upon expiration, the Company’s ability to re-lease its properties on the same or better terms in the event of nonrenewal or in the event the Company exercises its right to replace an existing tenant, and obligations the Company may incur in connection with the replacement of an existing tenant; (x) the Company’s potential liability for environmental matters; (xi) damage to the Company’s properties from catastrophic weather and other natural events, and the physical effects of climate change; (xii) uninsured losses; (xiii) the Company’s ability and willingness to maintain its qualification as a REIT in light of economic, market, legal, tax and other considerations; (xiv) information technology security breaches, including increased cybersecurity risks relating to the use of remote technology; (xv) the loss of key executives; (xvi) the accuracy of the Company’s methodologies and estimates regarding environmental, social and governance (“ESG”) metrics, goals and targets, tenant willingness and ability to collaborate towards reporting ESG metrics and meeting ESG goals and targets, and the impact of governmental regulation on its ESG efforts; and (xvii) the risk that the Company’s restatement of certain of its previously issued consolidated financial statements or material weaknesses in internal controls could negatively affect investor confidence and raise reputational issues.

The factors described above are not exhaustive and additional factors could adversely affect the Company’s future results and financial performance, including the risk factors discussed under the section captioned “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, and other periodic or current reports the Company files with the SEC. Any forward-looking statements in this press release speak only as of the date hereof. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with regard thereto or change in the events, conditions or circumstances on which such forward-looking statements are based.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230405005773/en/

Jennifer Han

(914) 288-8100

Source: Acadia Realty Trust

FAQ

When will Acadia Realty Trust release its Q1 2023 earnings?

Acadia Realty Trust will release its Q1 2023 earnings on May 2, 2023, after market close.

What time is the conference call for Acadia Realty Trust's Q1 2023 earnings?

The conference call will take place on May 3, 2023, at 10:00 AM ET.

How can investors register for the Acadia Realty Trust Q1 2023 earnings call?

Investors can register for the call via the First Quarter 2023 Registration link.

What are the key operational focuses of Acadia Realty Trust?

Acadia Realty Trust is focused on delivering long-term growth through its Core Portfolio and Fund strategies, concentrating on high-demand locations.