Acadia Realty Trust reported net earnings per share attributable to Acadia of $0.07 for the fourth quarter ended December 31, 2024, compared to a loss of $0.02 per share in Q4 2023. Funds From Operations (FFO) Before Special Items per share increased to $0.32 for the quarter, up from $0.28 in the prior year period, and reached $1.28 for the full year 2024.
The company achieved a same-property Net Operating Income (NOI) growth of 5.7% for the full year 2024, driven by the performance of its street retail portfolio. Acadia completed over $600 million of accretive Core and Investment Management acquisitions during the fourth quarter of 2024 and year-to-date 2025, including $306 million in Core acquisitions and $305 million in Investment Management acquisitions.
To fund its expansion, Acadia raised approximately $740 million of equity. The Board of Trustees authorized a cash dividend of $0.20 per common share for the first quarter of 2025, representing a 5.3% increase from the prior quarterly dividend of $0.19 per share. The company also provided initial 2025 FFO Before Special Items per share guidance in the range of $1.30 to $1.39.
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