Core Viewpoint - Acadia Realty Trust (AKR) is focusing on street retail, with a unique position in the retail REIT space, aiming for growth through its core portfolio and co-investment funds [2][3] Portfolio and Occupancy - AKR operates 139 properties with a total gross leasable area of 5.4 million square feet, achieving 93% occupancy and 95% leased status by the end of Q4 2023 [2] - The Funds co-invest with institutional investors, owning 50 properties across approximately 9 million square feet, with an occupancy rate of 89.6% and 92.4% leased [2][5] Financial Performance - In Q4 2023, AKR reported revenue of $85.51 million, a 6.1% increase year-over-year, exceeding consensus estimates by $8.15 million [4] - The fourth-quarter FFO was $0.28 per share, up $0.01 from the previous year, providing 156% coverage for the dividend [3][6] - Same-property net operating income (NOI) grew by 4.2% in Q4 and 5.8% for the full year 2023, with street retail portfolio NOI growth at 10% [4] Dividend and Growth Outlook - AKR declared a quarterly cash dividend of $0.18 per share, unchanged sequentially, resulting in a 4.2% dividend yield, though still 38% below pre-pandemic levels [3][6] - The REIT expects multi-year annual NOI growth exceeding 10%, driven by rent spreads ranging from 10% to 50% [5] - Projected FFO for fiscal 2024 is $1.28, indicating a 5% growth year-over-year, with same-property NOI growth expected between 5% to 6% [6] Market Position and Future Expectations - AKR is currently trading at a 6% premium to book value, with a distinctive portfolio poised for double-digit NOI growth in the coming years [4][8] - The market anticipates that the Federal Reserve will maintain high interest rates throughout 2024, impacting potential near-term returns for AKR [8] - Despite a lower dividend yield compared to larger retail REITs, AKR's focus on street retail is expected to support continued recovery of dividends that have been stalled since early 2022 [8]

RYE, N.Y.--(BUSINESS WIRE)--Acadia Realty Trust (NYSE:AKR) (“Acadia” or the “Company”) today announced that its Board of Trustees has declared a cash dividend of $0.18 per common share for the quarter ended March 31, 2024. The quarterly dividend is payable on April 15, 2024 to holders of record as of March 28, 2024. About Acadia Acadia Realty Trust is an equity real estate investment trust (“REIT”) focused on delivering long-term, profitable growth via its dual – Core Portfolio and Fund – operating platfo ...

RYE, N.Y.--(BUSINESS WIRE)--Acadia Realty Trust (NYSE:AKR) (“Acadia” or the “Company”) today announced the date of the Company’s 2024 Annual Shareholder Meeting. Acadia’s Board of Trustees has set the meeting date for Thursday, May 2, 2024 at 1:00 PM, ET. As this will be conducted as a virtual meeting, shareholders will be able to attend, vote and submit questions via live webcast by visiting www.virtualshareholdermeeting.com/AKR24. Prior to the meeting, shareholders will be able to vote at www.proxyvote.c ...

Investment Strategy - The company aims to acquire and manage high-quality retail properties primarily in densely populated metropolitan areas to enhance shareholder returns [19]. - The company focuses on opportunistic acquisitions and value-add investments in street retail properties, particularly in established and emerging submarkets [19]. - The company’s investment strategy includes joint ventures with private equity investors to capitalize on opportunities in operating retailers with significant real estate value [19]. - The company’s investment strategy includes opportunistic acquisitions of well-located real estate anchored by distressed retailers [19]. - The company has capitalized on its expertise in retail real estate by establishing discretionary opportunity funds, which include investments in suburban shopping centers and urban retail assets [34]. Financial Performance - The company controls approximately 95% of the Operating Partnership, allowing it to share in cash distributions and profits [18]. - The company emphasizes maintaining a strong and flexible balance sheet through conservative financial practices to ensure access to capital for future growth [19]. - The company faces potential increases in borrowing costs due to rising interest rates and inflation, impacting its financial condition [11]. - The company may encounter challenges in renewing leases or re-letting properties on favorable terms, affecting rental revenues [10]. - The company maintains a share repurchase program authorizing up to $200 million, with approximately $122.5 million available for repurchase as of December 31, 2023 [26]. - During the year ended December 31, 2022, the company issued 5,525,419 Common Shares under its ATM Program for gross proceeds of $123.9 million [27]. - The company completed an underwritten offering of 6,900,000 Common Shares in January 2024 for net proceeds of $113 million [28]. Employee and Governance - As of December 31, 2023, the company had 117 employees, with a turnover rate of approximately 11% [43]. - Women represent 49% of the company's employees, 36% of management-level positions, and 25% of independent trustees on the board as of December 31, 2023 [45]. - The Board consists of eight independent trustees, with two female and one racially and ethnically diverse trustee as of December 31, 2023 [65]. - The company has adopted a Code of Business Conduct and Ethics applicable to all employees, ensuring high standards of integrity and transparency [71]. - The company is focused on enhancing its corporate governance structure based on best practices and investor feedback [66]. - The company has opted out of Board self-classification provisions and maintains a majority voting standard for trustees in uncontested elections [66]. - The company has been recognized as a Great Place to Work® for four consecutive years based on employee satisfaction surveys [47]. Sustainability Initiatives - The company has established a GHG emissions reduction goal for scope 1 and 2 emissions to mitigate climate change impacts [57]. - The company has invested in energy efficiency measures, including LED lighting and smart controls, to reduce GHG emissions from its properties [58]. - The company has implemented a water management program that focuses on monitoring and reducing common area water consumption, utilizing technology to track and analyze usage [59]. - A majority of properties have smart irrigation systems installed, which include features like rain sensors to optimize water usage [59]. - The company achieved gold status as a Green Lease Leader, promoting sustainability through green clauses in retail leases [60]. - Sustainability initiatives at corporate offices include energy reduction measures such as LED lighting and automatic occupancy sensors, contributing to reduced air pollution [61]. - The corporate headquarters has received the Outstanding Achievement in Land Use Award for sustainability efforts [61]. - The company engages in renewable energy projects, including solar panel arrays and electric vehicle charging stations [59]. - The company maintains an Enterprise Risk Management plan to address critical operational risks, including those related to climate change [53]. Community Engagement - The company supports employee volunteerism and community engagement through partnerships with local organizations [62]. - The company has signed the CEO Action for Diversity & Inclusion pledge and actively works on DEI initiatives [46].

Acadia Realty Trust (NYSE:AKR) Q4 2023 Results Conference Call February 14, 2024 11:00 AM ET Company Participants Jeff Winston - Senior Associate in Asset Management Ken Bernstein - President and CEO John Gottfried - Executive Vice President, Chief Financial Officer Stuart Seeley - Senior Managing Director of Strategy and Public Markets A.J. Levine - Senior Vice President, Leasing and Development Conference Call Participants Linda Tsai - Jefferies Craig Mailman - Citi Todd Thomas - KeyBanc Capital Markets F ...

Core Insights - Acadia Realty Trust has announced year-end promotions to support its growth strategy, highlighting the importance of leadership in driving investment and asset management initiatives [1][2][3] Leadership Promotions - Reggie Livingston has been promoted to Executive Vice President, Chief Investment Officer, responsible for developing investment strategies and leading new investments since joining in 2011 [1] - Samantha Stapleton has been promoted to Vice President, Asset Management, focusing on long-term asset management strategies and portfolio performance optimization, having joined as an intern in 2013 [2] - Christina Lamendola has been promoted to Vice President, Strategic Lease Management, overseeing tenant payment portal implementation and enhancing billing strategies, with a career progression since 2015 [3] Company Overview - Acadia Realty Trust is an equity real estate investment trust (REIT) focused on long-term profitable growth through its Core Portfolio and Fund operating platforms, emphasizing a disciplined, location-driven investment strategy [4]

Douglas Cliff Acadia Realty Trust (NYSE:AKR), founded in 1993 and headquartered in Rye, NY, is a REIT that owns, develops, acquires, and manages retail properties in metropolitan and suburban markets across the country. This may be a conservatively leveraged company with adequate liquidity, but I don't believe a purchase would be justified right now. Aside from the fact that its operating performance hasn't been great in the past, the dividend doesn't seem safe and there is no margin of safety present from ...

Acadia Realty Trust (AKR) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Since a changing earnings ...

Core Viewpoint - Acadia Realty Trust has announced the federal tax treatment for its 2023 distributions to common shareholders, detailing the nature of the distributions and their tax implications [1][2]. Distribution Summary - The company has outlined the record and payment dates for its distributions, which are consistently set at $0.180000 per share for each quarter in 2023 [2]. - The total income per share for the distributions is $0.720000 for the year, with ordinary dividends eligible for a 20% deduction under Internal Revenue Code Section 199A [2]. Tax Treatment Details - The fourth quarter 2022 distribution was treated as paid in 2023 for tax purposes, while the fourth quarter 2023 distribution will be treated as paid in 2024 [2]. - Shareholders are advised to consult their tax advisors regarding the specific tax treatment of Acadia's distributions [2]. Company Overview - Acadia Realty Trust is an equity real estate investment trust focused on long-term growth through a dual operating platform and a disciplined investment strategy [3]. - The company aims to build a high-quality core real estate portfolio and make profitable investments through discretionary institutional funds while maintaining a strong balance sheet [3].

Core Insights - Acadia Realty Trust will release its fourth quarter 2023 earnings on February 13, 2024, after market close, followed by a conference call on February 14, 2024, at 11:00 AM ET to discuss the results [1] Company Overview - Acadia Realty Trust is an equity real estate investment trust (REIT) focused on long-term profitable growth through its Core Portfolio and Fund operating platforms, employing a disciplined, location-driven investment strategy [2] - The company aims to build a best-in-class core real estate portfolio with significant asset concentrations in dynamic corridors, while also making profitable opportunistic and value-add investments through discretionary institutional funds [2] - Acadia maintains a strong balance sheet to support its growth objectives [2] Investor Communication - The company utilizes its Investors page on its website to disclose material nonpublic information and comply with Regulation FD, including posting investor presentations and portfolio updates [3]