Acadia Realty Trust Q1 FFO Declines

(RTTNews) - Acadia Realty Trust (AKR) reported on Monday a decline in its Funds from Operations for first-quarter to $30.9 million or $0.28 per share from last year's $40.7 million or $0.40 per share.

FFO before special items stood at $37 million or $0.33 per share compared to $40.7 million or $0.40 per share in year-ago quarter.

Profit declines to $3.27 million or $0.03 per share from $13.4 million or $0.14 per share in prior year.

Analysts, on average, polled by Thomson Reuters estimated earnings of $0.06 per share for the quarter.

Revenue increased to $91.3 million from $81.8 million in previous year.