Acadia Realty Trust gains as Q3 FFO rises on strong leasing momentum
AKR•Acadia Realty Trust reported Q3 adjusted FFO of 31 cents per share, up from 29 cents a year earlier, and revenue of $94.08 million, above the $89.68 million analyst estimate.
1. Q3 results
Shares of Acadia Realty Trust rose about 2% in premarket trading after the company reported higher Q3 adjusted FFO, citing strong leasing momentum in key street retail corridors. Revenue was $94.08 million, compared with analysts’ average estimate of $89.68 million; the stock was down 7.4% year to date as of the last close.
