Acadia Realty Trust (AKR) reported first-quarter Funds from operations or FFO of $9.3 million or $0.21 per share, compared to $13 million or $0.33 per share last year.
Net income attributable to common shareholders was $4.0 million or $0.09 per share, down from $9.4 million or $0.23 per share in the comparable quarter last year.
The company reported total revenues of $39.63 million, compared to $37.45 million in the prior year.
Street analysts expected the company to report FFO of $0.22 per share and revenues of $22.11 million for the quarter. Analysts' estimates typically excludes special items.
Looking ahead to 2012, the company expects FFO to range from $1.00 to $1.05 per share and earnings from $0.54 per share to $0.60 per share. Analysts currently expect earnings of $1.04 per share.
For comments and feedback: editorial@rttnews.com