Financial Performance - The company reported a significant increase in revenue, reaching $1.2 billion, representing a 15% year-over-year growth[10] - The company reported a net income of $300 million, which is a 10% increase compared to the previous year[10] - Future guidance indicates a potential increase in operating margins by 2% as efficiency measures are implemented[10] - The company expects to achieve a revenue target of $1.5 billion for the next fiscal year, reflecting a 25% growth forecast[10] User Growth - User data showed a total of 5 million active users, up from 4 million in the previous quarter, indicating a 25% increase[10] Product Development - New product launches are anticipated to contribute an additional $200 million in revenue, with a focus on innovative technology solutions[10] - The company has allocated $50 million for research and development to drive innovation in product offerings[10] Market Expansion - The company plans to expand its market presence by entering three new geographic regions by the end of the fiscal year[10] - A strategic acquisition of a competitor is in progress, expected to enhance market share by 10%[10] Operational Challenges - Operating expenses increased by 5% due to higher marketing costs associated with new product launches[10] - The company faces risks related to investments in real estate that could adversely affect its financial condition, cash flows, and ability to satisfy debt service obligations[19] - Revenues derived from tenants are crucial, and a decrease in those revenues could impact the company's ability to make distributions to shareholders[19] - The company may not be able to renew current leases or may face less favorable terms for re-letting properties[19] - E-commerce trends could negatively impact the business of current tenants and future leases, affecting the company's financial condition[19] - The company is exposed to risks associated with environmental matters, which could lead to potential liabilities[19] - The company may experience increased borrowing costs due to rising interest rates, which could limit its ability to refinance debt[19] Growth Opportunities and Risks - The company has pursued extensive growth opportunities, which may place significant demands on its operational and financial resources[24] - Compliance with REIT requirements may limit the company's operational flexibility and ability to capitalize on attractive investment opportunities[24] - The company is subject to risks related to market conditions that could adversely affect its share price and access to public equity markets[24] - Climate change and natural disasters pose risks that could adversely affect the company's properties and overall business[24]

Financial Data and Key Metrics Changes - The company reported fourth-quarter earnings of $0.32 per share, representing a year-over-year growth of approximately 15% from $0.28 in the prior year [55] - Same-store NOI grew by 5.7% for both the quarter and the full year, with expectations of 5% to 6% same-store growth projected for 2025 [51][52] - Year-over-year FFO growth was 5% in 2024, with an anticipated growth of 5.5% in 2025 [52] Business Line Data and Key Metrics Changes - The company signed over 50 new leases totaling over $13.5 million of annual rent, equivalent to nearly 10% of total ABR, with overall spreads for the year totaling approximately 35% [23] - The street retail portfolio reported year-over-year sales growth exceeding 15% in SoHo and consistent double-digit sales growth in other key markets [25][26] - Rents on the street increased by 50% over the last 12 months, driven by strong demand and effective tenant curation [30] Market Data and Key Metrics Changes - The company has seen strong retail fundamentals, with high-growth streets outperforming the overall market [25] - Occupancy costs for apparel tenants on M Street are hovering just north of 12%, indicating significant room for rent growth [31] - The company is focusing on key corridors with supply constraints, which are essential for future growth [99] Company Strategy and Development Direction - The company aims to be the dominant owner-operator of street retail in the U.S., focusing on strategic acquisitions in key markets [12][17] - The strategy includes leveraging scale and geographic reach to drive rents and improve merchandising on high-demand streets [30] - The company is committed to match funding acquisitions on a disciplined basis, ensuring that investments are accretive to earnings and net asset value [18] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the impact of a higher-yielding bond market and potential interest rate increases but remains optimistic about tenant top-line growth translating into rental growth [8][10] - The company is confident in its ability to continue adding value through internal growth and strategic investments, with a strong pipeline for 2025 and beyond [20][72] - Management believes that the current retail environment presents significant opportunities for growth, particularly in street retail [48] Other Important Information - The company completed over $600 million in acquisitions, with a focus on street retail in key markets [17][39] - The balance sheet remains strong, with a debt-to-EBITDA ratio reduced to 5.5 times, and no meaningful core maturities until 2028 [72] Q&A Session Summary Question: How does the company think about the concept of scale in its street portfolio? - Management indicated that scale works best when owning the right assets in key corridors, which allows for better rent drives and tenant curation [76][78] Question: What is the expected acquisition volume split between Core and Investment Management in 2025? - Management expects to replicate last year's acquisition volume in the Core segment, while the Investment Management Platform will be more opportunistic [82] Question: What is the impact of a 1% increase in occupancy on the street and urban portfolio? - Management noted that peak occupancy was around 97%, and they expect to reach 90% occupancy in the near term, which would significantly enhance revenue [90][129] Question: How is the competition for street retail M&A evolving? - Management acknowledged increased competition for open-air retail but emphasized that their reputation and relationships position them well to capitalize on opportunities [114][118]

Group 1 - Acadia Realty Trust reported quarterly funds from operations (FFO) of $0.32 per share, missing the Zacks Consensus Estimate of $0.33 per share, but showing an increase from $0.28 per share a year ago, resulting in an FFO surprise of -3.03% [1] - The company posted revenues of $93.33 million for the quarter ended December 2024, which was 0.92% below the Zacks Consensus Estimate, compared to $85.51 million in the same quarter last year [2] - Acadia Realty Trust has surpassed consensus revenue estimates three times over the last four quarters, indicating some volatility in performance [2] Group 2 - The stock has underperformed the market, losing about 3.7% since the beginning of the year, while the S&P 500 has gained 3.1% [3] - The future performance of Acadia Realty Trust's stock will largely depend on management's commentary during the earnings call and the outlook for FFO [3][4] - Current consensus FFO estimate for the coming quarter is $0.31 on revenues of $97.5 million, and for the current fiscal year, it is $1.34 on revenues of $403.4 million [7] Group 3 - The estimate revisions trend for Acadia Realty Trust is currently unfavorable, resulting in a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [6] - The REIT and Equity Trust - Retail industry is currently in the top 29% of Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8]

Financial Performance - Total revenues for Q4 2024 were $93.334 million, with rental income contributing $91.579 million, representing a year-over-year increase [16]. - Net income attributable to Acadia Shareholders for Q4 2024 was $8.524 million, compared to $21.650 million for the full year [16]. - The company reported total expenses of $76.571 million for Q4 2024, with depreciation and amortization accounting for $35.189 million [16]. - Total Revenues for the year ended December 31, 2024, were $340,900,000, with a quarterly revenue of $87,650,000 [18]. - Net Operating Income for properties was $229,905,000 for the year, with a quarterly figure of $59,267,000 [18]. - Net Income attributable to Acadia shareholders for the year was $21,650,000, with a quarterly net income of $8,524,000 [18]. - Total Expenses for the year were $110,995,000, with quarterly expenses amounting to $28,383,000 [18]. - Interest income for the year was $25,085,000, while quarterly interest income was $6,575,000 [18]. - Total Fee and Other Income for the year was a loss of $2,826,000, with a quarterly gain of $1,962,000 [18]. - The company reported unrealized losses on marketable securities of $4,616,000 for the year, with quarterly unrealized gains of $949,000 [18]. - Funds from Operations (FFO) before special items for the year ended December 31, 2024, was $148,976,000, an increase from $133,105,000 in 2023 [29]. - EBITDA for the quarter ended December 31, 2024, was $53,277,000, up from $45,588,000 in the same quarter of 2023 [32]. - The FFO per common share for the year ended December 31, 2024, was $1.12, compared to $1.28 in 2023 [29]. - The Adjusted Funds from Operations (AFFO) increased to $32,510,000 in Q4 2024 from $24,335,000 in Q4 2023, marking a rise of 33.8% [60]. - The company declared dividends of $0.19 per share in Q4 2024, up from $0.18 per share in Q4 2023, reflecting a 5.6% increase [60]. Market Capitalization and Debt - The total market capitalization as of December 31, 2024, was $4.189 billion, with equity capitalization making up 72% of this total [9]. - The consolidated debt stood at $1.547 billion, with total debt capitalization representing 28% of the total market capitalization [9]. - Net Debt as of December 31, 2024, was $1,150,537,000, down from $1,433,551,000 in 2023, indicating a reduction of 19.7% [60]. - The Debt/EBITDA ratio improved to 5.5x in 2024 from 7.1x in 2023, highlighting better leverage management [60]. - Total debt for the Core Portfolio amounts to $1,072,218,000, with a pro-rata share of $878,923,000 [67]. - Total debt for Investment Management is $1,275,085,000, with a pro-rata share of $299,294,000 [69]. - The total debt for both Core Portfolio and Investment Management is $2,347,303,000, with a pro-rata share of $1,178,217,000 [69]. Property and Portfolio Management - Acadia Realty Trust's core portfolio focuses on high-quality retail properties in dynamic retail corridors, indicating a strategy for market expansion [4]. - The company is actively expanding its market presence with new acquisitions and strategic investments in various properties across key locations [43]. - Total acquisitions for the year amounted to $687,477,000, with significant properties acquired in New York and Texas [43]. - Total dispositions for the year were $179,876,000, including notable sales in New York and New Jersey [43]. - The company plans to expand its portfolio with new acquisitions in urban retail locations, focusing on high-traffic areas [86]. - The company is focusing on enhancing its portfolio by integrating new technologies and sustainable practices in property management [87]. Occupancy and Rental Income - The company reported a physical occupancy rate of 93.1% and a leased occupancy rate of 95.8% at the end of the period, showing consistent occupancy levels [34]. - Minimum rents increased by 6.6% to $36,851,000 for the quarter, compared to $34,572,000 in the prior year [34]. - The average Base Rent (ABR) across the portfolio is $53.00 per square foot, with the highest ABR recorded at $340.50 per square foot [85]. - The company achieved a 100% occupancy rate in several key properties, including the 165 Newbury Street and the Elmwood Park Shopping Center [87]. - The total annual base rent (ABR) for the core portfolio is $164,599,800, with an average ABR per square foot of $36.51 [90]. - The company’s core portfolio includes properties with an average occupancy rate of 93.1% [90]. Future Guidance - Future guidance for 2025 includes continued focus on opportunistic and value-add investments through its investment management platform [4]. - 2025 guidance for net earnings per share attributable to Acadia shareholders is projected between $26.2 million ($0.22/share) and $32.1 million ($0.27/share), compared to 2024 actuals of $21.7 million ($0.19/share) [48]. - Funds from Operations (FFO) before special items per share is expected to range from $1.30 to $1.39, up from $1.28 in 2024 [50]. - The company anticipates same property net operating income growth of 5.0% to 6.0% for 2025, compared to 5.7% in 2024 [50]. Capital Expenditures and Investments - Total capital expenditures for the year amounted to $20.743 million, down from $25.153 million in the previous year [101]. - The company’s total capital expenditures for tenant improvements were $8.496 million for the year ended December 31, 2024 [101]. - The total estimated costs for redevelopment projects include $156 million for 555 9th Street in San Francisco, CA, with a TBD completion date [119]. - The company has a total of 15 redevelopment projects planned, with various completion dates and estimated costs [119]. Non-GAAP Financial Measures - The company defines Funds from Operations (FFO) as net income excluding gains or losses from property sales, depreciation, and amortization [121]. - Adjusted Funds from Operations (AFFO) is defined as FFO adjusted for straight-line rent, non-real estate depreciation, and other costs [122]. - The Company utilizes non-GAAP financial measures such as EBITDA, NOI, and same-property NOI to assist investors in analyzing performance [125].

Group 1: Company Performance - Acadia Realty Trust (AKR) has gained approximately 44.8% year-to-date, outperforming the average gain of 20.6% in the Finance group [4] - The Zacks Consensus Estimate for AKR's full-year earnings has increased by 0.6% over the past three months, indicating improved analyst sentiment and a stronger earnings outlook [3] - Acadia Realty Trust is ranked 1 in the Zacks Sector Rank among 871 companies in the Finance group [2] Group 2: Industry Comparison - Acadia Realty Trust belongs to the REIT and Equity Trust - Retail industry, which has an average gain of 8.5% year-to-date, further highlighting AKR's superior performance [5] - Another notable performer in the Finance sector is Amalgamated Financial (AMAL), which has increased by 28.3% year-to-date, but still lags behind AKR [4] - The Financial - SBIC & Commercial Industry, to which Amalgamated Financial belongs, has only gained 6.4% year-to-date, ranking 205 among 36 industries [6]

Financial Data and Key Metrics Changes - The company reported FFO of $0.32 per share, reflecting a sequential growth of $0.01 and a year-over-year increase of $0.05 or 20% when excluding realized gains on Albertson shares [64] - Same-store NOI growth was reported at 5.9% for the quarter and 5.7% for the year, trending towards the upper end of the 5% to 6% annual guidance [66] - The company maintained its full-year guidance, projecting a range of $0.32 to $0.34 for the fourth quarter [65] Business Line Data and Key Metrics Changes - The company signed a record $7 million in core leases during the third quarter, exceeding the total volume of leases signed in 2023 [31] - The signed not yet opened pipeline increased by over 20%, reaching approximately $10 million as of September 30 [67] - The capture of below-market spaces resulted in an incremental ABR of $1.6 million upon commencement of new leases, contributing to a total of approximately $11.6 million of incremental core ABR [68][71] Market Data and Key Metrics Changes - The company noted that rents in SoHo are up double digits year-over-year and 30% to 40% since 2019 [42] - In Williamsburg, rents have grown 40% to 50% since 2019 and 10% to 15% over the last year [45] - The demand on M Street in Georgetown has never been stronger, with year-over-year sales growth exceeding 10% [49] Company Strategy and Development Direction - The company aims to deliver strong internal growth primarily from its street retail portfolio, maintaining a strong balance sheet for liquidity and capacity to grow [8][9] - The focus is on accretive acquisitions that enhance earnings and net asset value, with $270 million of acquisitions closed or under contract [13][20] - Expansion plans include the Henderson Avenue project in Dallas, which is expected to stabilize at an 8% yield on cost [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to continue adding value through internal growth, a strong balance sheet, and strategic investments [27] - The company remains bullish on the retail environment, noting that retailers recognize the critical nature of physical stores and the benefits of omnichannel sales [100][101] - Management highlighted the importance of geographic diversification to capture growth opportunities across various markets [79] Other Important Information - The company has secured over $1 billion of debt and equity capital, reducing its debt to GAV to about 30% and debt-to-EBITDA ratio to 5.6 times [60][62] - The company is focused on maintaining a stable and profitable revenue stream from its investment management platform, with a goal of approximately $2 billion in AUM [26] Q&A Session Summary Question: Is the pace and level of opportunities indicative of future growth? - Management confirmed that the current pace reflects the hard work of the team and the alignment of market conditions, allowing for continued growth in accretive acquisitions [74] Question: How does the company deal with competition in street retail? - Management noted that competition is professional and manageable, allowing the company to leverage its expertise and cost of capital to secure favorable deals [75][76] Question: What percentage of NOI comes from NYC and future growth expectations? - Approximately one-third of core NOI comes from New York, with expectations for growth based on market opportunities [77][78] Question: Is the pipeline of deals more domestic or international? - Management indicated a healthy mix of both, with international brands increasingly entering markets like M Street [80] Question: How does occupancy cost compare across various markets? - Occupancy costs in established markets like SoHo are in the mid-teens, while newer markets like Bleecker are closer to 10%, indicating room for growth [89][90] Question: What is the potential size of the acquisition pipeline? - Management expressed confidence in the availability of several billion dollars in scalable assets, with a focus on accretive deals [92][96] Question: Will fund dispositions accelerate as off-balance sheet acquisition activity picks up? - Management suggested that while stability is assumed for now, there is potential for growth in the investment management platform [115][116]

Financial Performance - Total revenues for the three months ended September 30, 2024, were $87,745,000, an increase of 7.4% compared to $81,392,000 for the same period in 2023[12] - Net income for the three months ended September 30, 2024, was $12,254,000, compared to a net loss of $16,268,000 for the same period in 2023[13] - Operating income increased significantly to $17,492,000 for the three months ended September 30, 2024, from $6,691,000 in the same period of 2023, representing a 161.5% increase[12] - Basic income per share for the three months ended September 30, 2024, was $0.07, compared to a loss of $0.02 per share for the same period in 2023[12] - Total expenses decreased to $70,253,000 for the three months ended September 30, 2024, from $74,701,000 in the same period of 2023, a reduction of 5.9%[12] - Comprehensive loss attributable to Acadia shareholders for the three months ended September 30, 2024, was $(21,956,000), compared to $14,279,000 for the same period in 2023[13] - Net income for the nine months ended September 30, 2024, was $6,979,000, a decrease from $8,486,000 in the same period of 2023, representing a decline of approximately 17.7%[17] - Total revenues for the nine months ended September 30, 2024, were $266,355 million, with investment management contributing $118,347 million[121] - Operating income for the same period was $49,289 million, reflecting a significant increase compared to previous periods[121] - Net income attributable to Acadia shareholders for the nine months ended September 30, 2024, was $13,126 million, showing resilience despite market challenges[121] Assets and Liabilities - Total assets as of September 30, 2024, were $4,276,323, a slight decrease from $4,291,154 as of December 31, 2023[9] - Total liabilities decreased to $1,866,359 from $2,157,598, a reduction of about 13.5%[10] - Acadia shareholders' equity rose to $1,926,727 from $1,636,917, indicating an increase of approximately 17.7%[10] - The total net investments in real estate as of September 30, 2024, were $3,560,353,000, slightly down from $3,612,080,000 at the end of 2023[33] - Total equity at September 30, 2024, was $2,374,927,000, an increase from $2,181,196,000 at the beginning of the year, reflecting a growth of approximately 8.9%[16] - Total debt as of September 30, 2024, was $1.59 billion, a decrease of 15.5% from $1.88 billion as of December 31, 2023[62] Cash Flow and Investments - Cash and cash equivalents increased significantly to $46,207 from $17,481, representing a growth of 163.5%[9] - Total cash provided by operating activities decreased to $102,576,000 in 2024 from $115,167,000 in 2023, reflecting a decline of about 10.9%[17] - Cash used in investing activities was $50,133,000 in 2024, a decrease from $90,071,000 in 2023, indicating a reduction of about 44.4%[17] - Proceeds from the disposition of properties amounted to $58,670,000 in 2024, with no proceeds reported in the same period of 2023[17] - The company raised $328,842,000 from the sale of common shares in 2024, with no similar transactions reported in 2023[17] Real Estate and Development - Real estate under development increased to $109,778 from $94,799, reflecting a growth of approximately 15.7%[9] - The company reported a total of $94.8 million in carrying value for properties under development as of September 30, 2024, with three properties in total[42] - The company disposed of properties totaling $64.51 million during the nine months ended September 30, 2024, resulting in a net gain of $757,000[38] - During the nine months ended September 30, 2024, the Company acquired retail properties totaling $52,203,000, including the Bleecker Street Portfolio for $20,347,000[34] Shareholder Information - The company reported a total of 113,902,348 common shares issued and outstanding as of September 30, 2024, compared to 95,361,676 shares previously[10] - The company declared dividends/distributions of $0.19 per Common Share/OP Unit, compared to $0.18 in the previous period, indicating a 5.6% increase[15] - The company declared distributions of $0.55 per Common Share/OP Unit for the nine months ended September 30, 2024, compared to $0.54 for the same period in 2023[16] Risks and Challenges - The company continues to face risks related to macroeconomic conditions, including inflation and geopolitical instability, which may impact future performance[6] - The company reported a loss of $15,952,000 from equity in earnings of unconsolidated affiliates in 2024, contrasting with earnings of $6,273,000 in 2023[17] - The company experienced realized and unrealized holding losses on investments for the nine months ended September 30, 2024, totaling $(5,918,000), compared to gains of $30,236,000 for the same period in 2023[12] Other Financial Metrics - Interest income from notes receivable for the three months ended September 30, 2024, was $4.8 million, up from $2.6 million in the same period of 2023, marking an increase of 84.6%[11] - Interest income rose to $7,859,000 for the three months ended September 30, 2024, compared to $5,087,000 for the same period in 2023, an increase of 54.7%[12] - Cash paid for interest during the nine months ended September 30, 2024, was $93,720,000, compared to $86,775,000 in 2023, representing an increase of 8.8%[19] - The company recognized total long-term incentive compensation expense of $2.4 million for the three months ended September 30, 2024, compared to $2.3 million for the same period in 2023[131]

Group 1 - Acadia Realty Trust reported quarterly funds from operations (FFO) of $0.32 per share, matching the Zacks Consensus Estimate and showing an increase from $0.27 per share a year ago [1] - The company posted revenues of $87.75 million for the quarter ended September 2024, exceeding the Zacks Consensus Estimate by 0.51% and up from $81.39 million year-over-year [2] - Acadia Realty Trust shares have increased approximately 41.3% since the beginning of the year, outperforming the S&P 500's gain of 21.8% [3] Group 2 - The future performance of Acadia Realty Trust's stock will largely depend on management's commentary during the earnings call and the company's FFO outlook [4][6] - The current consensus FFO estimate for the upcoming quarter is $0.33 on revenues of $91 million, and for the current fiscal year, it is $1.29 on revenues of $352.1 million [7] - The REIT and Equity Trust - Retail industry is currently ranked in the top 26% of over 250 Zacks industries, indicating a favorable outlook for the sector [8]

Financial Performance - Total revenues for Q3 2024 were $87.745 million, a year-to-date total of $266.355 million[10] - Rental income for Q3 2024 was $86.288 million, contributing to a year-to-date total of $257.951 million[10] - Total revenues for the quarter reached $83,068,000, with year-to-date revenues of $253,250,000[12] - Net operating income from properties was $56,709,000 for the quarter, totaling $170,638,000 year-to-date[12] - The company reported a net income attributable to Acadia shareholders of $8,414,000 for the quarter, with a year-to-date net income of $13,126,000[12] - Funds from Operations (FFO) for the quarter ended September 30, 2024, was $32,962, an increase of 22.5% compared to $26,845 for the same quarter in 2023[18] - Adjusted Funds from Operations (AFFO) for the quarter ended September 30, 2024, was $33,130, up 60.1% from $20,632 in the same quarter last year[18] - EBITDA for the quarter ended September 30, 2024, was $51,709, representing a 13.8% increase from $45,710 in the same quarter of 2023[19] - The company reported a net income attributable to Acadia of $8,414 for the quarter ended September 30, 2024, compared to a loss of $1,426 in the same quarter of 2023[19] Expenses and Liabilities - Total expenses for Q3 2024 amounted to $70.253 million, with year-to-date expenses at $216.625 million[10] - Total expenses for the quarter amounted to $26,359,000, with year-to-date expenses of $82,612,000[12] - The company experienced a loss on disposition of properties amounting to $441,000 year-to-date[12] - General and administrative expenses for the quarter were $10,215,000, totaling $30,162,000 year-to-date[12] - Total liabilities are reported at $1,866,359,000, including mortgage and other notes payable of $954,371,000[14] Capitalization and Debt - Total market capitalization as of September 30, 2024, was $3.975 billion[8] - The company’s total equity capitalization was $2.791 billion, representing 70% of the total capitalization[8] - Consolidated debt stood at $1.590 billion, with total debt capitalization at $1.184 billion, accounting for 30% of total capitalization[8] - The total debt (pro-rata) stands at $914,961 thousand, with a total market capitalization of $3,975,475 thousand[31] - Total debt for the Core Portfolio as of September 30, 2024, is $1,099,966,000, with a principal balance of $914,961,000[38] - The weighted average years to maturity for the Core Portfolio debt is 3.7 years[37] - The company has a significant portion of its debt maturing in 2025, totaling $474,121,000[46] Real Estate Portfolio - The company has a strong core real estate portfolio focused on high-quality retail properties in dynamic corridors[3] - The company has cash and cash equivalents of $46,207,000 and restricted cash of $23,088,000[14] - The company has a total of $109,778,000 in real estate under development[14] - The company’s core portfolio has a total of 305,275 retail properties, contributing to a significant revenue stream[50] - The total gross leasable area (GLA) across properties is 1,090,688 square feet with an overall occupancy rate of 84.2%[53] Occupancy and Leasing - The physical occupancy rate at the end of the period was 91.7%, down from 92.4% in the previous year[20] - Leased occupancy at the end of the period was 94.6%, a decrease from 95.3% in the same period last year[20] - The total leased occupancy for core properties is 91.4%, indicating strong demand for retail spaces[55] - The average ABR per square foot for suburban properties is $19.16, reflecting competitive rental pricing[55] - The number of new leases executed in Q3 2024 was 5, with a total GLA of 12,542 square feet and a new base rent of $80.82 per square foot, reflecting a 72.6% growth in base rent compared to the previous year[60] Investment Management - Future guidance indicates continued focus on opportunistic and value-add investments through its investment management platform[3] - Acadia's total fund size reached $2,125.1 million as of September 2024[63] - Cumulative contributions amounted to $2,062.7 million, with a current quarter contribution of $86.6 million[63] - The company is currently not in a promote position for any funds[63] - Fund II portfolio occupancy rate stands at 85.9% with an annualized base rent (ABR) of $19,635,801[67] Redevelopment and Future Projects - The company has a total of 4 major redevelopment projects with an estimated future range of costs between $23.1 million and $58 million[75] - The estimated stabilization for the Henderson Avenue project in Dallas, TX is projected for 2027/2028, with a total cost incurred to date of $24.1 million[75] - The City Center redevelopment in San Francisco is expected to stabilize in 2026, with total costs incurred to date of $211.2 million[75] - The company plans to expand its market presence with new strategies and product developments[72] Guidance and Projections - The company's 2024 guidance for net earnings per share has been revised to $0.09-$0.13 from the previous range of $0.07-$0.11[29] - NAREIT FFO per share guidance is now $1.09-$1.13, unchanged from the prior guidance of $1.09-$1.15[29] - Funds from operations before special items per share guidance remains at $1.26-$1.32, consistent with the previous guidance[29]

Acadia Realty Trust (AKR) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.The powe ...