Acadia Realty Trust reported second-quarter 2026 results with GAAP net earnings of $0.05 per share and FFO As Adjusted of $0.31 per share, up from $0.01 and $0.28 a year earlier, respectively. The company’s REIT Portfolio delivered same-property NOI growth of 8.7% driven by street retail, and leasing spreads on new REIT leases reached 91% on a cash basis. Year-to-date activity included approximately $652 million of accretive acquisitions and a $200 million common equity issuance to fund pipeline and development.

Financial Highlights

  • Net earnings per share (diluted) for Q2 2026: $0.05 (Q2 2025: $0.01).
  • NAREIT FFO for Q2 2026: $43.1 million, or $0.30 per share (Q2 2025: $38.1 million, $0.27 per share).
  • FFO As Adjusted for Q2 2026: $44.7 million, or $0.31 per share (Q2 2025: $38.7 million, $0.28 per share).
  • Revised full-year 2026 guidance: Net earnings per share $0.40–$0.41; NAREIT FFO per share $1.19–$1.21; FFO As Adjusted per share $1.24–$1.26.
  • Condensed consolidated revenues for Q2 2026: Total revenues $95,423 thousand; operating income $22,674 thousand; gain on disposition of properties $3,969 thousand.

Business Highlights

  • REIT Portfolio same-property NOI increased 8.7% for Q2, led by street retail which rose 15.6% (excludes developments and redevelopments).
  • REIT Portfolio occupancy improved: economic occupancy 94.4% and leased occupancy 95.7% as of June 30, 2026 (up 30 and 40 bps vs. March 31, 2026).
  • Record leasing volume added ~ $8.9 million to the Signed Not Opened (SNO) pipeline in Q2; total SNO pipeline grew to $16.5 million (pro-rata).
  • Delivered strong leasing spreads: conforming cash leasing spreads on new REIT leases of 91% (78% including renewals).
  • Transaction activity and portfolio expansion: approximately $652 million of acquisitions year-to-date (including $149 million in the REIT Portfolio during Q2), completed dispositions and recapitalizations of ~$715 million year-to-date via Investment Management, and secured forward equity and credit capacity to fund pipeline and development.

Original SEC Filing:

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