Acadia Realty Trust reports Q4 FFO ex-items 32c, consensus 33c

Reports Q4 revenue $93.33M, consensus $79.68M. “We concluded the year with strong performance from all of the key drivers of our business,” said CEO Kenneth Bernstein. “We delivered same-property NOI growth of 5.7%, driven by the strong performance of our street portfolio. Adding to the strong performance of our existing assets, we completed over $600 million of accretive Core and Investment Management acquisitions. The street retail additions to our core portfolio in New York City (SoHo, Williamsburg, and the West Village), and Washington D.C. (Georgetown), further expand our highly differentiated portfolio of best-in-class retail in the major must-have retail corridors in the United States. To fund our expansion, we have raised approximately $740 million of equity, which funded our acquisitions and redevelopments, along with providing the dry powder to add additional accretive investment opportunities. As we begin the new year, we are well positioned to continue to deliver strong internal growth through the continued strength of our Core portfolio, as well as accretive external growth.”