Acadia Realty Trust reports Q4 FFO ex-items 34c, consensus 32c

Reports Q4 revenue $104.77M, consensus $92.19M. Kenneth F. Bernstein, President and CEO of Acadia, commented: “As we close the year, our fourth quarter results reflect continued momentum across our differentiated dual platform business model. We are encouraged by the robust tenant demand for our street retail portfolio, enabling us to deliver REIT Portfolio same-property NOI growth in excess of 6% for the quarter. Complementing our strong internal growth, last year and year-to-date, we completed nearly $1 billion of accretive acquisitions, increasing our concentration in key street retail corridors and further scaling our Investment Management platform. With strong demand for street retail space and ample balance sheet capacity, we remain well positioned to deliver 5% earnings growth over a multi-year horizon.”