Acadia Realty Trust (AKR) Misses Q3 EPS by 10c, Revenues Miss

Acadia Realty Trust (NYSE: AKR) reported Q3 EPS of ($0.10), $0.10 worse than the analyst estimate of $0.00. Revenue for the quarter came in at $51.28 million versus the consensus estimate of $53.1 million.

“With our significantly improving cash collections along with sustained operating performance, we are cautiously optimistic with the recovery we are seeing,” stated Kenneth F. Bernstein, President and CEO of Acadia Realty Trust. “Additionally, while we remain cognizant of the challenges and resulting uncertainties that may transpire over the next several months, we are encouraged by our recently executed leases as well as our growing pipeline. Lastly, we are beginning to see actionable investment opportunities emerge for our fund platform.”

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

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