Acadia Realty Trust Q3 revenue beats estimates, FFO rises
Acadia Realty Trust Q3 revenue beats estimates, FFO rises
Overview
U.S. retail REIT's Q3 revenue beat analyst expectations
FFO As Adjusted per share rose yr/yr; net loss due to non-cash impairment charge
Company maintained full-year FFO guidance but cut net earnings per share outlook
Outlook
Company maintains full-year 2026 NAREIT FFO guidance at $1.19-$1.21 per share
Acadia expects 2026 FFO As Adjusted of $1.24-$1.26 per share
Company lowers 2026 net earnings per share guidance to $0.29-$0.30 from $0.40-$0.41
Result Drivers
STREET RETAIL GROWTH - Co said same-property NOI rose 10.2% in Q3, led by 15.2% growth in street retail portfolio
LEASING MOMENTUM - Co reported strong leasing spreads on new leases, with GAAP and cash spreads of 98% and 62%, driven by street retail
ACQUISITIONS - Co completed $152 mln of street retail acquisitions in Q3, citing accretive impact across key metrics
Company press release: ID:nBw5jTmpQa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $94.98 mln | $89.68 mln (5 Analysts) |
Q3 Loss Per Share |
| $0.03 |
|
Q3 Net Loss |
| $5.62 mln |
|
Q3 Operating Income |
| $10.22 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the commercial reits peer group is "buy"
Wall Street's median 12-month price target for Acadia Realty Trust is $24.00, about 26.1% above its October 30 closing price of $19.03
The stock recently traded at 46 times the next 12-month earnings vs. a P/E of 62 three months ago
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)