Acadia Realty Trust Q1 2025 – NAREIT FFO Surges

By Bobby Samwell • Wednesday, April 30 06:07 • Permanent Link

Acadia Realty Trust has reported its first-quarter 2025 operating results, highlighting a robust performance across various metrics. The company's GAAP net earnings for the first quarter of 2025 stood at $0.01 per share, a decrease from $0.03 per share in the same period in 2024.

Despite the decline in net earnings, the company's NAREIT FFO (Funds from Operations) for the first quarter of 2025 experienced significant growth, reaching $0.34 per share, as compared to $0.28 per share in the first quarter of 2024. Additionally, FFO before special items for the first quarter of 2025 was $0.34 per share, up from $0.33 per share in the first quarter of 2024.

Acadia Realty Trust also reported an increase in its Core Same Property NOI (Net Operating Income) growth, excluding redevelopments, which rose by 4.1% for the first quarter of 2025, driven by a 6.8% growth from the street portfolio. The company reaffirmed its full-year 2025 guidance of 5-6% for the same-property NOI growth.

The leasing and occupancy update revealed that as of March 31, 2025, the core portfolio leased and occupied percentages declined slightly, with leased percentages at 95.5% and occupied percentages at 91.7%, compared to 95.8% leased and 93.1% occupied as of December 31, 2024. The decrease in occupancy was primarily due to an anticipated expiration of a locally operated anchor in a suburban shopping center.

Furthermore, the company completed approximately $373 million of accretive core and investment management transactions year-to-date, which contributed to the growth in its portfolio.

Acadia Realty Trust's increased scale in key high-growth corridors, such as New York City and M Street in Georgetown, has proven successful in its ability to grow rents. The company's total debt-to-EBITDA metric improved to 5.7x at March 31, 2025, from 6.6x at March 31, 2024, demonstrating a stronger financial position.

As a result of these announcements, the company's shares have moved -1.3% on the market, and are now trading at a price of $19.54. If you want to know more, read the company's complete 8-K report here.

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