Acadia Q4 2024 Earnings Report

Key Takeaways

Acadia Realty Trust reported a strong Q4 2024 performance with GAAP net earnings of $0.07 per share and FFO Before Special Items of $0.32 per share. Same-property NOI grew by 5.7%, driven by the performance of its street portfolio. The company completed $611 million in acquisitions, expanded its core portfolio in key retail markets, and raised $740 million in equity for future investments.

Total Revenue

$93.3M

Previous year: $85.5M

+9.1%

EPS

$0.32

Previous year: $0.28

+14.3%

Same-Property NOI Growth

5.7%

Occupancy Rate

93.1%

Leased Rate

95.8%

Gross Profit

$59.3M

Previous year: $36.2M

+63.9%

Cash and Equivalents

$16.8M

Previous year: $25.3M

-33.6%

Total Assets

$4.37B

Previous year: $4.29B

+1.9%

Acadia Revenue

Acadia EPS

Forward Guidance

Acadia Realty Trust provided initial 2025 guidance projecting 5-6% same-property NOI growth and FFO Before Special Items per share of $1.30-$1.39. The company expects to continue benefiting from its strategic acquisitions and ongoing leasing momentum.

Positive Outlook

Projected FFO Before Special Items growth of 5.5%
Continued strength in core portfolio performance
Expansion into high-demand retail locations
Strong leasing spreads in key urban markets
Substantial capital raised for future investments

Challenges Ahead

Potential macroeconomic headwinds impacting retail demand
Rising interest rates could increase borrowing costs
Tenant turnover risks in high-traffic retail corridors
Ongoing redevelopment expenses affecting short-term cash flow
Dependence on consumer spending trends for revenue stability