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Acadia Realty Trust (AKR) SEC Filing 10-Q Quarterly report for the period ending Saturday, September 30, 2017

Acadia Realty Trust

CIK: 899629 Ticker: AKR


Exhibit 99.1


ACADIA REALTY TRUST REPORTS THIRD QUARTER 2017 OPERATING RESULTS

RYE, NY (November 2, 2017) - Acadia Realty Trust (NYSE:AKR) (“Acadia” or the “Company”) today reported operating results for the quarter ended September 30, 2017. All per share amounts are on a fully-diluted basis.

Acadia operates dual platforms, comprised of a high-quality core real estate portfolio (“Core Portfolio”), which owns and operates meaningful concentrations of assets in the nation’s most dynamic urban and street-retail corridors, and a series of discretionary, institutional funds (“Funds”) that target opportunistic and value-add investments.

Please refer to the tables and notes accompanying this press release for further details on operating results and additional disclosures related to FFO and net income.

Highlights

Earnings: Generated earnings per share of $0.15 and funds from operations (“FFO”) per share of $0.37 for the third quarter
Core Portfolio Operating Results: Same-property net operating income growth was stable (0.0%) for the third quarter; reported a leased occupancy rate of 95.0% as of quarter end
Core Acquisition and Structured Finance Investments: The Company did not acquire any investments in the Core Portfolio during the third quarter. The Company anticipates repayments of approximately $32 million of structured finance investments during 2017, of which $12 million has been repaid through September 30th
Fund Acquisitions: Fund V acquired two high-yield investments during the third quarter for $70 million; year-to-date Fund acquisition volume totals $141 million
Fund Dispositions: Completed $53 million of Fund dispositions during the third quarter; year-to-date disposition volume totals $212 million across Funds II, III and IV, including $106 million completed during October; the Fund platform also has $29 million of dispositions under contract
Fund III Promote: During 2017, generated approximately $1 million (approximately $0.01 per share) of net promote income for the Company from Fund III asset sales, including $0.4 million recognized during the third quarter
Balance Sheet: Maintained conservative leverage levels during 2017; Acadia did not issue any equity during the third quarter

“During the third quarter, our portfolio performed in line with our expectations and we remained disciplined,” stated Kenneth F. Bernstein, President and CEO of Acadia Realty Trust. “Our core growth plan is well underway, which is laying the groundwork for long-term, above-average growth. Within our fund platform, we remain opportunistic buyers and successful sellers while continuing to execute on our existing value-add projects. Looking ahead, given our solid balance sheet and the significant capital availability within our fund platform, we are also well-positioned to opportunistically respond to opportunities that are beginning to form.”





1

The following information was filed by Acadia Realty Trust (AKR) on Friday, November 3, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows (unaudited)
Consolidated Statements Of Cash Flows (unaudited) (parentheticals)
Consolidated Statements Of Comprehensive Income (unaudited)
Consolidated Statements Of Income (unaudited)
Consolidated Statements Of Income (unaudited) (parenthetical)
Consolidated Statements Of Shareholders' Equity (unaudited)
Consolidated Statements Of Shareholders' Equity (unaudited) (parenthetical)
Commitments And Contingencies
Commitments And Contingencies (details)
Debt
Debt (tables)
Debt - Mortgage Payable (details)
Debt - Scheduled Principal Repayments (details)
Debt - Summary Of Consolidated Indebtedness (details)
Debt - Unsecured Lines Of Credit (details)
Debt - Unsecured Notes Payable (details)
Earnings Per Common Share
Earnings Per Common Share (details)
Earnings Per Common Share (tables)
Financial Instruments And Fair Value Measurements
Financial Instruments And Fair Value Measurements (tables)
Financial Instruments And Fair Value Measurements - Additional Information (details)
Financial Instruments And Fair Value Measurements - Derivative Financial Instruments (details)
Financial Instruments And Fair Value Measurements - Fair Value By Balance Sheet Grouping (details)
Financial Instruments And Fair Value Measurements - Gain (loss) From Derivative Instruments (details)
Financial Instruments And Fair Value Measurements - Schedule Of Assets And Liabilities On Recurring Basis (details)
Investments In And Advances To Unconsolidated Affiliates
Investments In And Advances To Unconsolidated Affiliates (tables)
Investments In And Advances To Unconsolidated Affiliates - Core Portfolio (details)
Investments In And Advances To Unconsolidated Affiliates - Fund Investments (details)
Investments In And Advances To Unconsolidated Affiliates - Schedule Of Investments (details)
Investments In And Advances To Unconsolidated Affiliates - Unconsolidated Affiliates (details)
Lease Intangibles
Lease Intangibles (tables)
Lease Intangibles - Schedule Of Intangible Assets And Liabilities (details)
Lease Intangibles - Scheduled Amortization (details)
Leases
Leases (tables)
Leases - Capital Leasers (details)
Leases - Lease Obligations (details)
Leases - Operating Leases (details)
Notes Receivable, Net
Notes Receivable, Net (tables)
Notes Receivable, Net - Narrative (details)
Notes Receivable, Net - Schedule Of Notes Receivable (details)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (policies)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (tables)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies - Narrative (details)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies - Schedule Of Operating Partnership's Equity Interest (details)
Other Assets, Net And Accounts Payable And Other Liabilities
Other Assets, Net And Accounts Payable And Other Liabilities (details)
Other Assets, Net And Accounts Payable And Other Liabilities (tables)
Real Estate
Real Estate (tables)
Real Estate - Acquisitions (details)
Real Estate - Discontinued Operations (details)
Real Estate - Dispositions (details)
Real Estate - Pro Forma Financial Information (details)
Real Estate - Properties Held For Sale (details)
Real Estate - Schedule Of Real Estate (details)
Real Estate - Under Development And Construction In Progress (details)
Segment Reporting
Segment Reporting (details)
Segment Reporting (tables)
Share Incentive And Other Compensation
Share Incentive And Other Compensation (tables)
Share Incentive And Other Compensation - Employee 401 (k) Plan (details)
Share Incentive And Other Compensation - Employee Share Purchase Plan And Deferred Share Plan (details)
Share Incentive And Other Compensation - Narrative (details)
Share Incentive And Other Compensation - Schedule Of Unvested Shares And Ltip Units (details)
Shareholders' Equity, Noncontrolling Interests And Other Comprehensive Income
Shareholders' Equity, Noncontrolling Interests And Other Comprehensive Income (tables)
Shareholders' Equity, Noncontrolling Interests And Other Comprehensive Income - Accumulated Other Comprehensive Income (details)
Shareholders' Equity, Noncontrolling Interests And Other Comprehensive Income - Common Shares, Share Repurchases And Dividends And Distributions (details)
Shareholders' Equity, Noncontrolling Interests And Other Comprehensive Income - Noncontrolling Interest (details)
Shareholders' Equity, Noncontrolling Interests And Other Comprehensive Income - Preferred Op Units (details)
Subsequent Events
Subsequent Events (details)

Material Contracts, Statements, Certifications & more

Acadia Realty Trust provided additional information to their SEC Filing as exhibits

Ticker: AKR
CIK: 899629
Form Type: 10-Q Quarterly Report
Accession Number: 0000899629-17-000083
Submitted to the SEC: Fri Nov 03 2017 5:35:06 PM EST
Accepted by the SEC: Mon Nov 06 2017
Period: Saturday, September 30, 2017
Industry: Real Estate Investment Trusts

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