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Acadia Realty Trust Q4 FFO Down

Acadia Realty Trust (AKR) reported that its funds from operations for the fourth-quarter ended December 31, 2019 declined to $29.3 million or $0.32 per share, from $29.8 million or $0.34 per share last year.

Net income attributable to common shareholders for the quarter was $21.3 million, or $0.24 per share, compared to $7.1 million or $0.09 per share in the prior year.

The latest-quarter results included $16.6 million on a pro rata basis, or $0.19 per share attributable to an aggregate gain on dispositions of Core and Fund properties.

Total revenues for the quarter grew to $77.79 million from $69.73 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.08 per share and revenues of $56.7 million. Analysts' estimates typically exclude special items.

For 2020, the company expects earnings per share to be in the range of $0.25 to $0.39, and FFO per share of $1.32 to $1.46.

Wall Street currently is looking for fiscal year 2020 earnings of $0.37 per share.

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