Acadia Realty Trust (NYSE: AKR) reported Q4 EPS of $0.25, which may not compare to the analyst estimate of $0.08. FFO was $0.35.

• Earnings: Generated earnings per share of $0.25 for the fourth quarter. Funds from operations (“FFO”) per share was $0.35 before acquisition-related costs, and gains/losses on sale or impairment of depreciated and non-operating properties for the fourth quarter
• Core Portfolio Operating Results: Reported flat same-property net operating income growth for the year and (1.7)% for the fourth quarter (excluding redevelopment), driven by the previously-reported recapture of occupancy during 2017 which impacted period-over-period comparability. Reported a leased occupancy rate of 95.3% as of December 31, 2017 compared to 96.3% at December 31, 2016
• Structured Finance Investments: The Company received repayments of approximately $32 million of structured finance investments during 2017 and an additional $26 million in January 2018
• Fund Acquisitions: Fund V acquired a high-yield investment during the fourth quarter for $62 million; 2017 Fund acquisition volume totaled $203 million
• Fund Dispositions: Completed $240 million of Fund dispositions during the fourth quarter; 2017 disposition volume totaled $346 million across Funds II, III and IV
• Fund III Promote: During 2017, generated approximately $1 million, or $0.01 per share, of net promote income for the Company from Fund III asset sales
• Balance Sheet: Acadia did not issue any equity during 2017. Subsequent to year end, the Company extended the maturity of its corporate unsecured facility resulting in reduced borrowing costs and improved flexibility. No additional proceeds were obtained
• Share Repurchase Program: The Company’s Board of Trustees authorized a common share repurchase program. Under the program, the Company may purchase up to $200 million of its common stock as market conditions warrant. The shares may be purchased in the open market or in privately negotiated transactions

For earnings history and earnings-related data on Acadia Realty Trust (AKR) click here.