Acadia Realty Trust: Q1 Earnings Snapshot
By Ap News
Published - Apr 29, 2024, 04:42 PM ET
Last Updated - May 27, 2024, 01:05 AM EDT
RYE, N.Y. (AP) — RYE, N.Y. (AP) — Acadia Realty Trust (AKR) on Monday reported a key measure of profitability in its first quarter. The results surpassed Wall Street expectations.
The real estate investment trust, based in Rye, New York, said it had funds from operations of $37 million, or 33 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 30 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
