NYSE$AKR

Acadia Realty Trust · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Acadia Realty Trust reported strong first quarter results, exceeding expectations with significant transactional activity and increased leased rate.

Acadia Realty Trust reported GAAP earnings per share of $0.18, FFO per share of $0.36, and FFO Before Special Items per share of $0.33. Same-property NOI increased by 9.7%. The company completed approximately $380 million of investments and increased the leased rate to 94.1%.

  • GAAP earnings per share of $0.18, FFO per share of $0.36 and FFO Before Special Items per share of $0.33.
  • Same-property NOI increased by 9.7%.
  • Completed approximately $380 million of investments during the first quarter and post-quarter to date.
  • Increased leased rate to 94.1% as of March 31, 2022 compared to 93.2% leased as of December 31, 2021.

Headline financials

Total Revenue

$81.5M

Previous: $69.4M+17.5%
EPS (adj)

$0.33

Previous: $0.25+32.0%
Same-Property NOI Growth

9.7%

Previous: -14.5%+166.9%
Leased Rate

94.1%

Previous: 91.0%+3.4%
Capital Expenditures

-$168M

Previous: -$5.43M-2988.1%
Free Cash Flow

-$123M

Previous: -$3.57M-3362.4%
Net Income

$44.1M

Previous: $1.86M+2270.8%
Operating Income

$40M

Previous: $8.68M+361.3%
Gross Profit

$68.2M

Previous: $55.9M+21.9%
Cash & Equivalents

$36.2M

Previous: $15.4M+134.4%
Total Assets

$4.5B

Previous: $4.15B+8.2%
Stock-Based Comp

$3.82M

No prior period

Revenue & EPS history

Acadia · Revenue · Quarterly

$81.5M

Q1 2022+17.5%vs Q1 2021
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Forward guidance

The Company increased its annual 2022 guidance of earnings per share, NAREIT Funds from operations and FFO Before Special Items attributable to Common Shareholders and Common OP Unit holders. Additionally, the Company updated its net income and FFO to reflect the unrealized holding gains recognized related to its investment in Albertsons through March 31, 2022. The Company has not reflected any forward-looking estimates involving future unrealized holding gains (i.e. changes in share price) on Albertsons in its net income and FFO guidance assumptions.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

+0.1%

Avg return

Earnings day

+0.8%

Avg return

5 days after

+2.0%

Avg return

30 days after

65%

42 / 65 earnings

Positive

+8.5%

Q4 2020

Best reaction

-8.1%

Q4 2010

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.0%-0.2%+4.4%
Q4 2025-4.2%-3.9%-6.0%
Q3 2025+0.3%+2.2%+7.6%
Q1 2025-2.3%-0.9%-1.4%
Q4 2024+1.4%+0.5%-10.2%
Q3 2024+1.4%+0.8%+8.6%
Q2 2024+5.2%+4.4%+9.1%
Q1 2024-0.2%-2.3%-5.1%
Q4 2023-2.3%-0.9%-4.2%
Q3 2023+6.6%+14.1%+11.4%
Q2 2023+1.7%+2.4%-5.2%
Q1 2023-0.8%-0.1%-4.7%
Q4 2022+1.4%-2.9%-11.9%
Q3 2022-1.4%+1.3%+8.1%
Q2 2022-4.5%-5.2%-7.6%
Q1 2022-0.9%-4.1%-6.8%
Q4 2021+7.1%+1.2%+5.4%
Q3 2021-2.8%-5.3%-0.6%
Q2 2021+0.7%+0.0%+1.8%
Q1 2021+1.6%+1.1%+3.2%
Q4 2020+8.5%+16.9%+37.7%
Q3 2020+1.9%-0.5%+57.2%
Q2 2020+0.2%+4.6%-0.9%
Q1 2020-5.6%+3.4%+27.5%
Q4 2019+0.9%+2.2%-23.2%
Q3 2019-2.5%-4.8%-9.1%
Q2 2019+3.9%+3.3%+2.8%
Q1 2019+1.4%+0.1%+0.9%
Q4 2018+0.1%-1.1%-6.8%
Q3 2018+1.3%+3.2%+2.1%
Q2 2018+1.4%-1.8%+6.7%
Q1 2018+0.8%+2.2%+9.1%
Q4 2017+2.6%+9.0%+4.8%
Q3 2017-4.2%-0.2%-3.1%
Q2 2017+3.5%+4.1%-0.3%
Q1 2017-2.1%-7.4%-11.8%
Q4 2016-3.4%-2.3%-4.9%
Q3 2016-1.9%-5.1%-5.0%
Q2 2016-1.2%+1.4%-1.2%
Q1 2016+1.2%
Q4 2015+0.2%
Q3 2015-1.4%
Q2 2015+0.5%
Q1 2015-4.2%
Q4 2014+0.4%
Q3 2014+0.0%
Q2 2014-0.3%
Q1 2014+0.6%
Q4 2013+1.1%
Q3 2013+3.9%
Q2 2013+0.7%
Q1 2013+1.2%
Q4 2012+1.4%
Q3 2012+0.4%
Q2 2012+0.0%
Q1 2011-0.1%
Q1 2012+1.0%
Q1 2010+1.6%
Q4 2009+1.6%
Q4 2011+1.6%
Q3 2010+3.1%
Q3 2011+3.1%
Q2 2010-8.1%
Q2 2011-8.1%
Q4 2010-8.1%

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