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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) announced its participation in NAREIT’s REITweek®: 2024 Investor Conference, scheduled for June 3-6, 2024. Kenneth F. Bernstein, President and CEO of Acadia, will present on June 4 at 2:15 p.m. ET. The presentation materials will be available on Acadia's website under 'Investors – Presentations & Events.' The company will also host individual investor meetings during the conference. An audio webcast of the presentation will be available live, with a replay accessible for 30 days post-event on the company's website.
Acadia Realty Trust (NYSE: AKR) has finalized a strategic partnership with J.P. Morgan Asset Management to acquire retail assets.
This relationship began with Acadia selling a 95% interest in the Shops at Grand, a grocery-anchored shopping center in Maspeth, New York, to J.P. Morgan Real Estate Income Trust for $48 million.
Acadia will continue managing the property, earning management, leasing, and construction fees, plus potential promotes upon asset disposition.
Proceeds will be used to invest in high-growth street retail assets and reduce leverage.
CEO Kenneth F. Bernstein highlighted this move as part of Acadia's strategy to recycle capital and expand institutional relationships.
J.P. Morgan Real Estate Income Trust (JPMREIT) has acquired a 95% interest in Shops at Grand Avenue, a 99,837-square-foot, fully-leased, Class A grocery-anchored shopping center in Maspeth, Queens, NY. The acquisition, valued at $48 million, is part of a strategic joint venture with Acadia Realty Trust (NYSE: AKR). This deal boosts JPMREIT's portfolio to over $400 million and marks its first last-mile retail investment. The center, anchored by Stop & Shop, is situated in a dense residential area with nearly one million people within a three-mile radius. Doug Schwartz, Co-President of JPMREIT, emphasizes the investment's alignment with their 'New Economy' strategy, focusing on consumer proximity in densely populated areas.
Acadia Realty Trust (NYSE:AKR) has declared a quarterly cash dividend of $0.18 per common share for the quarter ended June 30, 2024. The dividend will be paid on July 15, 2024, to shareholders of record as of June 28, 2024.
Acadia Realty Trust (NYSE: AKR) reported first-quarter operating results, including GAAP net earnings of $0.03, FFO before special items of $0.33, and same-property NOI growth of 5.7%. The company operates a high-quality core real estate portfolio and a fund business. Management reaffirmed 2024 guidance and highlighted strong financial performance across various metrics. The balance sheet remains strong, with an extension and expansion of the unsecured credit facility. Transactional activities include asset sales and purchases to drive growth. The company is well-positioned for continued success.
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