NYSE$AKR
Acadia Realty Trust · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Acadia Realty Trust reported third quarter operating results, with earnings and operating metrics outperforming expectations.
Acadia Realty Trust reported a net loss of $1.7 million, or $0.02 per share, for the quarter ended September 30, 2023. However, NAREIT FFO per share was $0.26 and FFO Before Special Items per share was $0.27. Same-property NOI growth was 5.8%.
- Earnings and operating metrics outperformed expectations.
- Core cash rent spreads exceeded 50% on new leases.
- Multi-year internal growth was affirmed with significant leasing progress.
- Core Signed Not Open Pipeline increased $1.5 million from the second quarter to $8.3 million.
Headline financials
Revenue & EPS history
Acadia · Revenue · Quarterly
$81.4M
Forward guidance
The Company updated its annual 2023 guidance as follows:
Tailwinds
- Net earnings per share attributable to Acadia $0.28-$0.31
- Depreciation of real estate and amortization of leasing costs (net of noncontrolling interest share) 1.01
- Impairment charges (net of noncontrolling interest share) 0.01
- Noncontrolling interest in Operating Partnership 0.02
- NAREIT Funds from operations per share attributable to Common Shareholders and Common OP Unit holders $1.32-$1.35
Headwinds
- Unrealized holding (gain) loss (net of noncontrolling interest share) (0.03)
- Funds from operations Before Special Items per share attributable to Common Shareholders and Common OP Unit holders $1.29-$1.32
- Incremental portion of gain from BBBY lease termination 1 (0.05)
- Funds from operations Before Special Items per share attributable to Common Shareholders and Common OP Unit holders, excluding excess BBBY gain $1.24-$1.27
- The Company had budgeted $0.03 per share to be realized throughout 2023 within its initial full year 2023 guidance associated with this lease, resulting in an incremental $0.05 per share relative to its prior full year 2023 guidance.
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 2023
+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
| Quarter | Report date | Reaction (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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