Acadia Realty Trust Q2 Profit Declines

(RTTNews) - Acadia Realty Trust (AKR), Tuesday reported second-quarter earnings of $1.4 million or $0.01 per share compared to $9.3 million or $0.09 per share last year.

Analysts, on average, polled by Thomson Reuters estimated earnings of $0.05 per share for the period.

NARIET FFO stood at $28.5 million or $0.25 a share versus last year's $38.2 million or $0.37 a share.

Revenue declined to $87.3 million from last year's $89.9 million.

Looking forward, the company now expects earnings of $0.07 to $0.11 per share compared to previously estimated $0.07 to $0.13 per share for the fiscal year 2024.

The company projects NARIET FFO of $1.09 to $1.13 per share instead of previously expected $1.09 to $1.15 per share for the fiscal year 2024.