Acadia Realty Trust reported net earnings per share attributable to Acadia of $0.07 for the third quarter ended September 30, 2024, an increase from a loss of $0.02 per share in the prior year period. Funds From Operations (FFO) Before Special Items per share attributable to Common Shareholders and Common OP Unit holders increased to $0.32, up from $0.27 in Q3 2023.
Total revenues for the quarter reached $87.745 million, compared to $81.392 million in the third quarter of 2023. The company highlighted approximately $575 million in acquisition activity, comprising $150 million of completed acquisitions and a pipeline of $425 million in advanced stages of negotiation.
Acadia also achieved a record-setting volume of $7 million in new Core leases during the quarter. These results reflect ongoing internal growth from the Core Portfolio and the acceleration of accretive acquisition initiatives, positioning the company for earnings growth over the next several years.
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