Acadia Realty Trust Earnings Fall 19% In Q3

(RTTNews) - Acadia Realty Trust (AKR) revealed a profit for third quarter that declined from last year.

The company said its earnings fell to $22.83 million, or $0.27 per share. This was lower than $28.26 million, or $0.39 per share, in last year's third quarter.

Analysts had expected the company to earn $0.35 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 10.1% to $51.10 million. This was down from $56.85 million last year.

Acadia Realty Trust earnings at a glance:

-Earnings (Q3): $22.83 Mln. vs. $28.26 Mln. last year. -Earnings Decline (Y-o-Y): -19.2% -EPS (Q3): $0.27 vs. $0.39 last year. -EPS Decline (Y-o-Y): -30.8% -Analysts Estimate: $0.35 -Revenue (Q3): $51.10 Mln vs. $56.85 Mln last year. -Revenue Change (Y-o-Y): -10.1%

-Guidance: Full year EPS guidance: $1.52 - $1.56