NYSE$AKR

Acadia Realty Trust · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

Reported operating results for the third quarter of 2022.

Acadia Realty Trust reported a GAAP loss per share of $0.61, NAREIT FFO per share of $0.24 and FFO Before Special Items per share of $0.28 for the quarter ended September 30, 2022. The company's same-property NOI increased 5.4% for the quarter ended September 30, 2022.

  • Generated a 5.4% increase in its Core Portfolio same-property NOI during the third quarter.
  • Increased guidance, for the third time this year, for FFO Before Special Items per share to $1.28 to $1.30.
  • Increased both leased and occupied rates to 94.3% and 91.2%, respectively, as of September 30, 2022.
  • Completed a Fund V suburban acquisition in New York for approximately $48 million.

Headline financials

Total Revenue

$79.9M

Previous: $47.3M+69.0%
EPS (adj)

$0.28

Previous: $0.27+3.7%
Same-Property NOI Growth

5.4%

Previous: 7.0%-22.9%
Occupancy Rate

91.2%

Previous: 90.3%+1.0%
Leased Rate

94.3%

Previous: 92.6%+1.8%
Capital Expenditures

-$279M

Previous: -$90.6M-208.4%
Free Cash Flow

-$369M

Previous: -$59.1M-524.8%
Net Income

-$89.5M

Previous: $31.6M-383.8%
Operating Income

-$14M

Previous: -$1.34M-940.5%
Gross Profit

$66.1M

Previous: $34.6M+91.2%
Cash & Equivalents

$18.1M

Previous: $17.4M+4.1%
Total Assets

$4.36B

Previous: $4.24B+2.8%
Stock-Based Comp

$2.18M

Previous: $2.65M-17.5%

Revenue & EPS history

Acadia · Revenue · Quarterly

$79.9M

Q3 2022+69%vs Q3 2021
Beat estimate in 11 of 14 quarters(79%)
ActualEstimate

Forward guidance

The Company updated its annual 2022 guidance of net earnings (loss), NAREIT Funds from Operations and FFO Before Special Items attributable to Common Shareholders and Common OP Unit holders.

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 2022

Historical avgQ3 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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