RYE, N.Y.--(BUSINESS WIRE)--Acadia Realty Trust (NYSE:AKR) (“Acadia” or the “Company”) announced today the pricing of an underwritten offering of 6,900,000 common shares (inclusive of the underwriters’ option to purchase 900,000 additional shares) at a price to the public of $16.75 per share. The offering is expected to close on January 11, 2024, subject to customary closing conditions. Acadia intends to use the net proceeds from the offering for general corporate purposes, which may include funding future ...

Acadia Realty Trust (NYSE:AKR) Q3 2023 Earnings Call Transcript October 31, 2023 11:00 AM ET Company Participants John Demoulas - Analyst Ken Bernstein - President and CEO AJ Levine - SVP, Leasing and Development John Gottfried - EVP, CFO Conference Call Participants Floris van Dijkum - Compass Point Ki Bin Kim - Truist Linda Tsai - Jefferies Craig Mailman - Citi Todd Thomas - KeyBanc Capital Markets Lizzy Doykan - BofA Securities Paulina Rojas Schmidt - Green Street Operator Good day and thank you for stan ...

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-12002 ACADIA REALTY TRUST (Exact name of registrant in its charter) MARYLAND (State or other jurisdiction of incorporation or organization) 23-271519 ...

Acadia Realty Trust (NYSE:AKR) Q2 2023 Earnings Conference Call August 4, 2023 11:00 AM ET Company Participants Mackenzie Teper - IR Kenneth Bernstein - President and CEO Stuart Seeley - Senior Managing Director of Strategy and Public Markets John Gottfried - EVP and CFO Conference Call Participants Floris van Dijkum - Compass Point LLC Ki Bin Kim - Truist Todd Thomas - KeyBanc Capital Markets Lizzy Doykan - Bank of America Securities Craig Mailman - Citi Michael Mueller - JPMorgan Paulina Rojas-Schmidt - G ...

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-12002 ACADIA REALTY TRUST (Exact name of registrant in its charter) MARYLAND (State or other jurisdiction of incorporation or organization) (I.R.S. Employ ...

Financial Data and Key Metrics Changes - The first quarter results showed a same-property NOI growth of 7%, exceeding expectations, and earnings were also above forecast [6][26] - FFO per share was reported at $0.40, with a full-year guidance increase to $1.19 to $1.26 from $1.17 to $1.20 [26][27] - Total NOI growth was approximately 6.5%, increasing to about $36.2 million in Q1 2023 compared to $34 million in Q1 2022 [32] Business Line Data and Key Metrics Changes - The Street portfolio, which comprises about half of the overall portfolio value, achieved an 8% same-store growth during the quarter, outperforming the initial projection of 6% to 7% [31] - The suburban portfolio maintained a stable occupancy rate of 94.5%, with average rents around $1,750 per square foot [20] Market Data and Key Metrics Changes - The recovery in key urban corridors is significant, with net effective market rents growing over 15% on average in specific areas like Soho, Williamsburg, and Melrose Place [10] - The company noted that tenant demand is outstripping supply, particularly in high-quality spaces, leading to a strong leasing pipeline [7][15] Company Strategy and Development Direction - The company aims for a multiyear internal growth goal of 5% to 10% annually, with a focus on high-quality, high-barrier-to-entry markets [6][21] - The strategy includes opportunistic asset sales and acquisitions, particularly in light of current market volatility [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism despite macroeconomic uncertainties, indicating that leasing fundamentals remain strong [17][27] - The company anticipates that leasing progress will compensate for any potential economic slowdown, projecting a net positive growth trajectory [7][17] Other Important Information - The company has successfully re-leased spaces previously occupied by Bed Bath & Beyond, with new tenants like Dick's Sporting Goods taking over [12][35] - The company has no significant core maturities over the next several years and can fund internal growth through cash flow generated from operations [38] Q&A Session Summary Question: Impact of Street portfolio occupancy on earnings - Management indicated that achieving 95% occupancy in the Street portfolio could contribute significantly to earnings growth, estimating over $30 million in total for the entire portfolio [41][42] Question: Opportunities in the market - Management discussed potential opportunities arising from regional bank issues and the fragmented ownership of street retail, suggesting a focus on both core and fund investments [45][46] Question: North Michigan Avenue mortgage maturity - Management confirmed that they have time to address the mortgage maturity and maintain a good relationship with the lender [50][51] Question: Chicago urban street retail forecast - Management expressed a balanced approach to Chicago exposure, acknowledging its challenges but also its potential [52][53] Question: Leasing activity in lagging submarkets - Management noted that some submarkets are beginning to show improvement, with new leases being signed and increased retailer interest [56][58]

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-12002 ACADIA REALTY TRUST (Exact name of registrant in its charter) MARYLAND (State or other jurisdiction of incorporation or organization) (I.R.S. Emplo ...

Investment Strategy - Acadia Realty Trust focuses on acquiring and managing high-quality retail properties in densely populated metropolitan areas, with a strong emphasis on capital appreciation and cash distributions to shareholders [24]. - The company has launched five funds for opportunistic and value-add retail real estate investments, with the current fund being Acadia Strategic Opportunity Fund V LLC [28]. - The company’s growth strategy includes the acquisition and development of additional properties, which may face challenges in finding new properties and securing financing [114]. Financial Performance - In 2022, Acadia issued 5,525,419 Common Shares under its ATM Program, raising gross proceeds of $123.9 million, compared to 2,889,371 shares for $64.9 million in 2021 [33]. - The company maintains a share repurchase program with authorization to repurchase up to $200 million of outstanding Common Shares, with approximately $122.5 million remaining as of December 31, 2022 [32]. - The company reported a cumulative total shareholder return of $62.81 for its Common Shares from December 31, 2017, to December 31, 2022 [215]. Portfolio Overview - As of December 31, 2022, Acadia had two Fund and two Core Portfolio development projects and five Core Portfolio redevelopment projects underway [41]. - As of December 31, 2022, the Core Portfolio consisted of 143 operating properties totaling approximately 5.6 million square feet of gross leasable area (GLA), with an occupancy rate of 92.1% and a lease rate of 94.4% [185]. - The Funds owned and operated 49 properties totaling approximately 8.0 million square feet of GLA, with an occupancy rate of 88.9% and a lease rate of 92.5% as of December 31, 2022 [186]. Tenant and Revenue Concentration - The company has a concentration of 20 key tenants that collectively account for approximately 19.3% of its consolidated revenue, indicating a significant reliance on these tenants for income [85]. - The largest retail tenant, Target, accounted for 7.3% of total Core Portfolio GLA and 5.1% of total base rent as of December 31, 2022 [200]. - No individual property or tenant contributed more than 10% of total revenues for the years ended December 31, 2022, 2021, or 2020 [189]. Employee and Diversity Initiatives - Employee turnover rate for 2022 was approximately 23%, with a total of 115 employees as of December 31, 2022 [48]. - Diversity, equity, and inclusion are fundamental values for Acadia, with women representing 50% of employees and racially and ethnically diverse individuals making up 25% of the workforce [50]. - The company emphasizes diversity, equity, and inclusion (DEI) as fundamental values, with initiatives aimed at enhancing employee engagement and community involvement [69]. Environmental and Sustainability Efforts - The company is committed to reducing GHG emissions with a goal established for scope 1 and 2 emissions, aiming to mitigate the negative impacts of climate change [63]. - The company has implemented a comprehensive water management program that includes smart irrigation systems and technology to monitor water consumption, promoting sustainability [66]. - The company has achieved gold status as a 2022 Green Lease Leader, reflecting its commitment to sustainability through the use of "green" leases [67]. Risk Management - The company has established a robust Enterprise Risk Management plan to address critical risks, including those related to climate change and environmental impact [59]. - The company may face adverse effects on financial condition and cash flows due to the bankruptcy or downturn of major tenants, impacting rental revenues [87]. - The company is exposed to potential liability related to environmental matters, which could result in significant costs exceeding the value of the properties [119]. Debt and Interest Rate Exposure - As of December 31, 2022, the company's outstanding indebtedness was $1,805.4 million, with $364.6 million classified as variable-rate indebtedness [110]. - Approximately 79.8% of the company's outstanding debt has fixed or effectively fixed interest rates, exposing it to risks from potential increases in interest rates [112]. - A 100-basis-point increase in interest rates would raise interest expense on variable-rate debt by approximately $3.6 million annually [112]. Legal and Regulatory Compliance - The company is engaged in various legal proceedings but does not expect any material adverse effects on its consolidated financial position [208]. - The SEC proposed extensive rules for climate-related disclosures, which could impose new compliance costs and operational strains on the company [178]. - Compliance with REIT requirements may hinder the company's performance by forcing it to forego attractive investment opportunities [150]. Market Conditions and Economic Factors - Current economic conditions have resulted in high unemployment, rising inflation, and decreased consumer spending, negatively impacting retail tenants [158]. - Political and economic uncertainty may cause consumers to postpone discretionary spending, adversely affecting tenant business [160]. - Economic downturns may lead to tenant losses and impair the company's ability to borrow for property purchases or refinancing [156].

Financial Data and Key Metrics Changes - The company reported earnings of $0.28 per share, exceeding expectations, with same-store NOI growth of 5.4% for the quarter and 6.6% year-to-date, on track to exceed the initial guidance of 4% to 6% for the full year [18][19][26] - Cash collections remained strong at 98%, aligning with pre-pandemic levels, despite one Regal location's temporary rent payment issues due to Chapter 11 filing [24][25] Business Line Data and Key Metrics Changes - The street retail portfolio outperformed, with cash leasing spreads exceeding 20%, and specific locations like SoHo achieving cash spreads of 40% [6][21] - Sequential physical occupancy grew by 70 basis points, with leased occupancy increasing to 94.3% as of September 30, up from 94.1% in the previous quarter [20] Market Data and Key Metrics Changes - Strong demand was noted in key markets such as SoHo, Gold Coast of Chicago, and Melrose Place in LA, with luxury retailers showing increased commitment [8][9] - Retailer sales in certain corridors exceeded pre-COVID levels, with M Street in Georgetown reporting sales over 20% higher than before the pandemic [11] Company Strategy and Development Direction - The company plans to add $30 million to $40 million of NOI to its core portfolio over the next three to five years, focusing on aggressive leasing and internal growth [14][26] - The strategy includes self-funding capital needs and minimizing exposure to rising interest rates, with a focus on opportunistic asset sales to close the gap between private real estate values and stock price [15][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued strong leasing momentum despite macroeconomic headwinds, citing robust demand for space and the quality of locations [7][8] - The company anticipates 5% to 10% pro rata core NOI growth for 2023, excluding nonrecurring impacts from 2022 cash recoveries [27][28] Other Important Information - The company increased its 2022 guidance for FFO before special items to $1.28 to $1.30, reflecting a year-over-year growth of about 17% [26] - The company took a noncash GAAP impairment charge on three investments, primarily due to longer recovery times in specific submarkets [29][30] Q&A Session Summary Question: About the $30 million to $40 million of core NOI expected over the next three to five years - Management clarified that this figure does not include recent acquisitions or growth from City Point, with leasing expected to contribute significantly to this growth [43][44][47] Question: Conversations around long-term leases with retailers - Management noted that retailers are more inclined to lock in long-term leases now, especially in mission-critical locations, as they anticipate higher inflation and rent growth [50][51] Question: Financing fund investments and variable rate debt - Management indicated that financing strategies may change due to current market conditions, emphasizing flexibility in the fund business [54][55] Question: Update on Bed Bath & Beyond negotiations - Management described the situation as fluid, with ongoing negotiations to potentially rightsize the store, expressing cautious optimism about reaching a profitable conclusion [60][62] Question: Disconnect between asset values and stock price - Management acknowledged the disconnect, attributing it to market conditions and emphasizing the strength of their portfolio outside of underperforming areas [63][64][66]