Acadia Q3 2024 Earnings Report
Key Takeaways
Acadia Realty Trust reported net income of $8.1 million, or $0.07 per share, and FFO Before Special Items of $0.32 per share for the quarter ended September 30, 2024. The company achieved a Core Same-Property NOI growth of 5.9% and completed approximately $150 million of accretive acquisitions.
Net income was $0.07 per share and FFO Before Special Items was $0.32 per share.
Core Same-Property NOI grew by 5.9%.
GAAP and Cash New Leasing Spreads were 73% and 46%, respectively.
Approximately $150 million of accretive Core and Investment Management acquisitions were completed, increasing the pipeline to $425 million.
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Forward Guidance
Acadia is focused on acquisitions in key street markets and believes its platform is well-positioned to deliver meaningful value and sustainable growth.