Acadia Q4 2022 Earnings Report
Key Takeaways
Acadia Realty Trust reported a net income of $3.8 million, or $0.04 per share, for the quarter ended December 31, 2022. The company experienced a 5.7% increase in Core Portfolio same-property NOI. The results were impacted by a $6.8 million loss from the unrealized mark-to-market holding loss on its investment in Albertsons.
NAREIT FFO per share was $0.21 and FFO Before Special Items per share was $0.27.
Core Portfolio same-property NOI increased by 5.7%.
Leased and occupied rates increased to 94.9% and 92.7%, respectively.
Completed a disposition within its Core Portfolio of an Urban asset for $26.4 million, generating a $7.4 million gain.
Acadia
Acadia
Forward Guidance
Acadia provided 2023 guidance for earnings per diluted share of $0.14 to $0.23 and FFO before Special Items per diluted share of $1.17 to $1.26 and same-property NOI growth, excluding redevelopments of 5% to 6%.
Positive Outlook
- Earnings per diluted share of $0.14 to $0.23
- FFO before Special Items per diluted share of $1.17 to $1.26
- Same-property NOI growth, excluding redevelopments of 5% to 6%