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Acadia Realty Trust (AKR) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details Acadia's ownership interest in 159 properties within its Core Portfolio and 51 properties within its Investment Management platform. The Core Portfolio primarily consists of street and urban retail and suburban shopping centers.
Acadia reported total revenues of $359.7 million for the year, with rental revenue contributing $349.5 million. Total expenses amounted to $293.2 million, including $138.9 million in depreciation and amortization.
The company completed several acquisitions during 2024, investing $164.4 million in properties including the Bleecker Street Portfolio in New York and the Walk at Highwoods Preserve in Tampa, Florida.
Acadia also disposed of properties generating proceeds of $95.9 million, including the Shops at Grand in Queens, New York, which was contributed to a newly formed joint venture.
The company issued $100 million in senior unsecured notes and amended its credit facility to increase its revolving credit capacity to $525 million.
Acadia's total consolidated debt stood at $1.5 billion as of December 31, 2024, with a mix of fixed and variable interest rates.
The company raised $732.1 million through public offerings and its ATM program, issuing 33.8 million shares during the year.
Acadia's net income attributable to shareholders was $21.7 million, with funds from operations totaling $130.2 million for 2024.
The filing outlines risks including dependence on tenant revenues, interest rate fluctuations, and potential impacts of economic conditions on property values and operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Acadia Realty Trust annual 10-K report dated February 14, 2025. To report an error, please email earnings@qz.com.