Acadia Realty Trust (AKR) reported that its first-quarter Funds from operations or FFO was $16.85 million or $0.31 per share, compared to $9.30 million or $0.21 per share in the comparable quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.29 per share for the quarter. Analysts' estimates typically exclude special items.
Net income attributable to Common Shareholders was $9.62 million or $0.18 per share, compared to $4.01 million or $0.09 per share in the year-ago period.
Total revenues for the quarter rose to $42.39 million from $29.91 million in the prior year quarter. Four analysts had consensus revenue estimate of $25.12 million for the quarter.
The company forecasts its 2013 annual FFO will range from $1.17 to $1.25 per share and 2013 earnings per share from $0.66 to $0.71. Analysts expect the company to report earnings of $1.23 per share for fiscal 2013.
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