Acadia Realty Trust Updates 2018 Earnings Guidance - Quick Facts

(RTTNews) - Acadia Realty Trust (AKR) announced, for 2018, funds from operations, before transactional activity, per share is now expected to be in the range of $1.33 to $1.34, up from previous guidance range of, $1.29 to $1.34. Funds from operations, after transactional activity, per share is now expected in the range of $1.36 to $1.40, revised from prior guidance range of $1.33 to $1.45.

The company expects same property net operating income growth (excluding redevelopment) of 3% to 5% for the fourth quarter.

FFO for the quarter ended September 30, 2018 was $30.1 million, or $0.35 per share compared to $32.9 million, or $0.37 per share for the quarter ended September 30, 2017. The company said the decrease in FFO for the quarter is due primarily to a decrease of $2.9 million, or $0.04 per share, of interest income following the repayments within the Structured Finance business.