Acadia Realty Trust reports Q2 EPS 32c, consensus 33c

Reports Q2 revenue $100.592M, consensus $81.89M. Kenneth Bernstein, President and CEO of Acadia, commented: “We delivered another strong quarter as we are continuing to see positive momentum from our differentiated Street Retail portfolio. Our same-property NOI is on track to grow 5-6% this year. In addition, we invested $157 million in accretive Street Retail assets, expanding our scale in our NYC corridors of Williamsburg and Flatiron/Union Square. And lastly, during the quarter, we have further enhanced our liquidity, reduced borrowing costs, and extended duration of our debt maturities. We have a strong and liquid balance sheet, an irreplaceable Street Retail Portfolio and an Investment Management Business that is built to capitalize in all cycles.”