NYSE$AKR

Acadia Realty Trust · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Reported third quarter earnings and operating results.

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

Headline financials

Total Revenue

$47.3M

Previous: $51.3M-7.8%
EPS (adj)

$0.27

Previous: $0.20+35.0%
Same-Property NOI Growth

7.0%

Previous: -21.4%+132.7%
Occupancy Rate

90.3%

Previous: 90.3%+0.0%
Leased Rate

92.6%

Previous: 91.1%+1.6%
Capital Expenditures

-$90.6M

Previous: -$49.2M-84.4%
Free Cash Flow

-$59.1M

Previous: -$87.4M+32.5%
Net Income

$31.6M

Previous: -$38.3M+182.4%
Operating Income

-$1.34M

Previous: -$14M+90.4%
Gross Profit

$34.6M

Previous: $39.7M-12.9%
Cash & Equivalents

$17.4M

Previous: $16.1M+7.8%
Total Assets

$4.24B

Previous: $4.25B-0.2%
Stock-Based Comp

$2.65M

No prior period

Revenue & EPS history

Acadia · Revenue · Quarterly

$47.3M

Q3 2021-7.8%vs Q3 2020
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

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.

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 Q3 2021

Historical avgQ3 2021

+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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