NYSE$AKR

Acadia Realty Trust · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Acadia reported solid fourth quarter and full year 2019 operating results, driven by the strength of its Core Portfolio and accretive investments.

Acadia Realty Trust reported GAAP earnings per share of $0.24 and FFO per share of $0.32 for the fourth quarter of 2019. The company generated same-property NOI growth of 3.1% for the fourth quarter, excluding redevelopments. Acadia completed $92.7 million of core acquisitions during the fourth quarter and a suburban disposition for $22.6 million.

  • Achieved GAAP earnings per share of $0.24 and FFO per share of $0.32 for the fourth quarter.
  • Generated same-property NOI growth of 3.1% for the fourth quarter, excluding redevelopments.
  • Completed $190.6 million of core acquisitions in 2019, including $92.7 million in the fourth quarter.
  • Completed a suburban disposition for $22.6 million during the fourth quarter.

Headline financials

Total Revenue

$76.7M

Previous: $55.1M+39.2%
EPS (adj)

$0.32

Previous: $0.34-5.9%
Same-Property NOI Growth

3.1%

No prior period
Occupancy Rate

94.0%

No prior period
Leased Rate

94.8%

No prior period
Net Income

$21.3M

Previous: $7.13M+198.9%
Operating Income

$28M

Previous: $7.59M+269.3%
Gross Profit

$54.3M

Previous: $48.6M+11.7%
Cash & Equivalents

$14.1M

Previous: $20.1M-29.5%
Total Assets

$4.31B

Previous: $3.96B+8.8%
Stock-Based Comp

$3.6M

Previous: $4.62M-22.1%

Revenue & EPS history

Acadia · Revenue · Quarterly

$76.7M

Q4 2019+39.2%vs Q4 2018
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Forward guidance

The Company is setting its initial 2020 guidance ranges as follows: earnings per share of $0.25 to $0.39, FFO per share of $1.32 to $1.46 and same property NOI growth of 1.5% to 2.5%, excluding redevelopment

Tailwinds

  • Earnings per share of $0.25 to $0.39
  • Earnings per share of $0.25 to $0.39
  • FFO per share of $1.32 to $1.46
  • FFO per share of $1.32 to $1.46
  • Same property NOI growth of 1.5% to 2.5%.

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 Q4 2019

Historical avgQ4 2019

+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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