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) reported strong second-quarter results for 2021, surpassing expectations with GAAP earnings per share of $0.04 and funds from operations (FFO) of $0.31 per share. The company increased its annual FFO guidance to between $1.05 and $1.14, up from $0.98 to $1.14, driven by a 13.9% increase in same-property net operating income (NOI). Collections reached 96% of pre-COVID billings, and the Core Portfolio is now 89.8% occupied. Acadia's financial stability was bolstered by a $700 million credit facility and $46 million raised through its ATM program.
Acadia Realty Trust (NYSE: AKR) will announce its second quarter 2021 earnings on July 28, 2021, post-market. A conference call is scheduled for July 29, 2021, at 11:00 AM ET, where management will discuss earnings and operations. Investors can access the conference call via a dial-in number or webcast. Acadia Realty Trust focuses on long-term growth through its real estate investment strategy, concentrating on dynamic locations and maintaining a strong balance sheet. For further updates, please visit their investor relations page.
Acadia Realty Trust (NYSE: AKR) has secured a $700 million amended and restated credit facility, superseding its prior $600 million facility. This new arrangement increases its revolving credit from $250 million to $300 million and term loan from $350 million to $400 million. The facility is also oversubscribed and features an accordion option expandable to $900 million, maturing on June 29, 2026. CFO John Gottfried highlighted the added financial flexibility and capital access for investment opportunities, reflecting strong support from capital providers.
Acadia Realty Trust (NYSE: AKR) announced an update on leasing and operations, revealing a leasing pipeline exceeding $12 million, with 50% of leases already signed, including key locations in New York and Chicago. The company has collected approximately 94% of its core billings for April and May 2021. Additionally, Acadia will participate in the NAREIT REITweek 2021 Investor Conference from June 8-10, where CEO Kenneth F. Bernstein will present. The conference will include opportunities for virtual investor meetings.
Acadia Realty Trust (NYSE:AKR) announced a quarterly cash dividend of $0.15 per common share for the period ending June 30, 2021, payable on July 15, 2021. This dividend will be distributed to shareholders on record as of June 30, 2021. Acadia focuses on enhancing long-term growth through its Core Portfolio and Fund platforms, strategically investing in prime real estate locations across the nation. The company's disciplined approach aims to achieve profitable investments while maintaining a robust balance sheet.
Acadia Realty Trust (NYSE: AKR) reported Q1 2021 results, showcasing a net income of $5.2 million, or $0.06 per share, with FFO at $24.3 million, or $0.26 per share. The Core Portfolio showed a decrease in same-property NOI by 14.5% due to elevated credit reserves. However, the company reinstated its quarterly dividend at $0.15 per share and raised its 2021 FFO guidance to $1.00 to $1.14 per share. Acadia also reported a 92% collection rate of pre-COVID billings, with a leasing pipeline exceeding $10 million. CEO Kenneth F. Bernstein expressed optimism about the recovery.
Acadia Realty Trust (NYSE: AKR) is set to release its first quarter 2021 earnings on April 28, 2021, post-market close. A conference call will follow on April 29, 2021, at 11:00 AM ET to discuss the earnings and operating results. Investors can access the call through a dial-in number (844-309-6711) or via a webcast on their website. Acadia Realty focuses on long-term growth through its Core Portfolio and Fund operating platforms, emphasizing a location-driven investment strategy.
Acadia Realty Trust (NYSE:AKR) declared a cash dividend of $0.15 per common share for Q1 2021, payable on April 15, 2021, to shareholders on record as of March 31, 2021. This marks a return to dividend payments after a temporary suspension in 2020 due to the pandemic. The company focuses on long-term growth through its Core Portfolio and Fund platforms, leveraging a disciplined investment strategy to build a strong real estate portfolio.
Acadia Realty Trust (NYSE:AKR) will participate in the Citi 2021 Virtual Global Property CEO Conference from March 8-11, 2021. CEO Kenneth F. Bernstein is set to present on March 10, 2021, at 3:30 p.m. ET, and the presentation materials will be accessible on their website under the Investors section. A live audio webcast of the presentation will be available, with a replay accessible until March 10, 2022. Acadia Realty focuses on long-term growth through a disciplined investment strategy in prime locations.
Acadia Realty Trust (NYSE: AKR) has elected Kenneth A. McIntyre as an independent trustee, effective March 1, 2021, expanding the Board to nine trustees, with eight independent members. McIntyre brings 25 years of commercial real estate expertise and leads the Real Estate Executive Council. His background includes roles at Hudson City Savings Bank and MetLife. The Lead Trustee, Lee S. Wielansky, expressed confidence that McIntyre’s insights will benefit Acadia’s real estate investment strategy aimed at growth in a changing retail landscape.
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