Acadia Realty Trust (NYSE: AKR) reported Q1 EPS of ($0.06), $0.06 better than the analyst estimate of ($0.12).

“As spring unfolds, our portfolio remains both stable and on the rebound from the continued reopening of our cities and states with increasing enthusiasm about our economy’s long-term outlook,” stated Kenneth F. Bernstein, President and CEO of Acadia Realty Trust. “We continue to expand our leasing pipeline, which includes several new executed leases on our key urban and street-retail spaces; in doing so, we are seeing retailer demand shift from the necessity-based component of our portfolio to the discretionary elements as the consumer signals pent-up demand. On the external growth front, we are also beginning to see more actionable investment opportunities, and our dual platform is well poised to capitalize on them.”

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