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Mar 31, 2020
Acadia Q1 2020 Earnings Report
Acadia Realty Trust reported operating results affected by the COVID-19 pandemic.
Key Takeaways
Acadia Realty Trust reported a GAAP loss per share of $(0.10) and FFO per share of $0.30 for Q1 2020, impacted by credit loss and straight-line rent reserves due to the COVID-19 pandemic. Same-property NOI decreased by -1.4% due to credit loss reserves. The company has suspended distributions on its common shares beginning in the second quarter of 2020.
GAAP loss per share was $(0.10), inclusive of impairment charges on real property within the Funds of $0.14 per share.
FFO per share was $0.30, including $0.04 of credit loss and straight-line rent reserves related to the COVID-19 Pandemic.
Same-property NOI decreased by -1.4% primarily due to credit loss reserves associated with the COVID-19 Pandemic.
The Board of Trustees has suspended distributions on its common shares and units beginning in the second quarter of 2020.
Forward Guidance
Acadia withdrew its full-year 2020 guidance due to the economic uncertainty resulting from the COVID-19 Pandemic and is not providing updated 2020 guidance at this time.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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