Acadia Realty Trust Q2 Earnings Fall 16%

(RTTNews) - Acadia Realty Trust (AKR) released a profit for second quarter that fell from last year.

The company said its bottom line declined to $29.16 million, or $0.37 per share. This was down from $34.87 million, or $0.48 per share, in last year's second quarter.

Analysts had expected the company to earn $0.38 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 3.4% to $51.33 million. This was down from $53.16 million last year.

Acadia Realty Trust earnings at a glance:

-Earnings (Q2): $29.16 Mln. vs. $34.87 Mln. last year. -Earnings Decline (Y-o-Y): -16.4% -EPS (Q2): $0.37 vs. $0.48 last year. -EPS Decline (Y-o-Y): -22.9% -Analysts Estimate: $0.38 -Revenue (Q2): $51.33 Mln vs. $53.16 Mln last year. -Revenue Change (Y-o-Y): -3.4%

-Guidance: Full year EPS guidance: $1.52 - $1.60