Acadia Q3 2021 Earnings Report
Key Takeaways
Acadia Realty Trust reported solid leasing activity and improved tenant performance in the third quarter of 2021, driven by retailer confidence in the recovery and the importance of physical stores. The company's earnings growth is also benefiting from recent investment activity within its Core Portfolio and Fund Platform.
GAAP earnings per share of $0.13, FFO per share of $0.41 and FFO before Special Items per share of $0.27
Increased same-property NOI by 7%
Increased cash collections to 97%
Core Portfolio is 90.3% occupied and 92.6% leased as of September 30, 2021
Acadia
Acadia
Forward Guidance
The Company reaffirmed its annual 2021 guidance for FFO before Special Items of $1.05 to $1.14. Additionally, the Company updated its net income and FFO to reflect the year-to-date unrealized holding gains recognized related to its investment in Albertsons through September 30, 2021.