Every material Form 8-K Acadia Realty Trust filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Acadia Realty Trust reported third-quarter 2024 net income of $8.1 million, or $0.07 per share, compared with a net loss of $1.7 million, or $0.02 per share, a year earlier. FFO Before Special Items rose to $37.1 million, or $0.32 per share, from $27.6 million, or $0.27 per share, and the company reduced its pro-rata net debt-to-EBITDA to 5.6x from 6.3x at June 30, 2024.
Q3 2024 net income of $8.1 million ($0.07 per share) versus a net loss of $1.7 million ($0.02 per share) in Q3 2023
NAREIT FFO of $33.0 million ($0.28 per share) versus $26.8 million ($0.26 per share); FFO Before Special Items of $37.1 million ($0.32 per share) versus $27.6 million ($0.27 per share)
Core same-property NOI grew 5.9% in the quarter, with GAAP and cash new leasing spreads of 73% and 46%
About $150 million of acquisitions completed in the quarter and a $425 million pipeline; common equity proceeds of about $320 million to fund them
Acadia Realty Trust's operating partnership amended its credit facility on September 12, 2024, raising the revolving credit line from $350.0 million to $525.0 million and the accordion capacity from $900.0 million to $1.1 billion. The same day, it used cash on hand and borrowings under the amended facility to repay in full a $175.0 million term loan, with no early termination penalties reported. The filing shows added borrowing capacity and a retired term loan, but it does not state the new facility's drawn balance or pricing changes.
Revolving credit facility increased from $350.0 million to $525.0 million on the same terms.
Accordion feature capacity raised from $900.0 million to $1.1 billion.
$175.0 million term loan under the April 6, 2022 agreement repaid in full on September 12, 2024.
No early termination penalties were incurred, according to the filing.
Acadia Realty Trust reported second-quarter 2024 net income of $1.2 million, or $0.01 per share, down from $9.0 million, or $0.09 per share, a year earlier, and FFO Before Special Items of $0.31 per share, down from $0.36. The company raised the low end of its 2024 FFO Before Special Items guidance and lowered the top end of its net earnings and NAREIT FFO guidance, while raising its quarterly dividend 5.6% to $0.19 per share.
Q2 2024 total revenues were $87.3 million, compared with $89.9 million in Q2 2023.
NAREIT FFO was $0.25 per share, versus $0.37; FFO Before Special Items was $0.31, versus $0.36.
2024 FFO Before Special Items guidance changed to $1.26-$1.32 from $1.24-$1.32; net earnings guidance changed to $0.07-$0.11 from $0.07-$0.13.
Quarterly dividend increased to $0.19 per share, payable October 15, 2024 to holders of record as of September 30, 2024.
Acadia Realty Trust reported first-quarter 2024 results on April 29, 2024. Total revenues rose to $91.4 million from $81.8 million, but net income fell to $3.0 million, or $0.03 per share, from $13.1 million, or $0.14 per share, and FFO Before Special Items fell to $0.33 per share from $0.40. The company reaffirmed its 2024 FFO Before Special Items guidance, and the quarter's FFO included a $4.0 million realized investment gain.
Total revenues of $91.4 million for the quarter ended March 31, 2024, versus $81.8 million a year earlier
Net income of $3.0 million, or $0.03 per share, versus $13.1 million, or $0.14 per share, for the first quarter of 2023
FFO Before Special Items of $0.33 per share versus $0.40; 2024 FFO Before Special Items guidance reaffirmed
Same-property NOI grew 5.7%, driven by the Street Portfolio; about 7 million shares issued for net proceeds of about $115 million
Acadia Realty Trust and its operating partnership entered into a Third Amended and Restated Credit Agreement on April 15, 2024, with Bank of America, N.A. as administrative agent. The filing increases the revolving credit facility from $300.0 million to $350.0 million and extends both the revolver and the $400.0 million term loan to April 15, 2028, which gives the company a longer borrowing window.
Revolving credit facility increased from $300.0 million to $350.0 million, including up to $60.0 million for letters of credit
Maturity extended from June 29, 2025 to April 15, 2028, with two additional six-month extension options
$400.0 million term loan extended from June 29, 2026 to April 15, 2028; accordion feature allows capacity up to $900 million
As of closing, SOFR margins were 1.25% for revolver loans and 1.4% for term loan loans; the agreement includes financial covenants and limits on dividend payouts and distributions
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Acadia Realty Trust filing is on SEC EDGAR ↗. 8-K briefs of other companies →