SEC Filings

8-K
ACADIA REALTY TRUST filed this Form 8-K on 02/19/2019
Entire Document
 

 

 

Market Capitalization

Supplemental Report – December 31, 2018

(Including pro-rata share of Fund debt, in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Changes in Total Outstanding Common

 

 

Weighted Average

 

 

 

Total Market

 

 

 

 

 

 

Capitalization

 

 

Shares and OP Units (in thousands)

 

 

Diluted EPS

 

 

FFO

 

 

 

Capitalization

($)

 

 

%

 

 

Based on Net

Debt 1

 

 

 

 

Common

Shares

 

 

Common OP Units

 

 

Total

 

 

Quarter

 

 

YTD

 

 

Quarter

 

 

YTD

 

Equity Capitalization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Shares

 

 

81,557

 

 

 

 

 

 

 

 

 

 

Balance at 12/31/2017

 

 

83,708

 

 

 

4,716

 

 

 

88,424

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Operating Partnership ("OP") Units

 

 

5,030

 

 

 

 

 

 

 

 

 

 

Other

 

 

11

 

 

 

289

 

 

 

300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Combined Common Shares and OP Units

 

 

86,587

 

 

 

 

 

 

 

 

 

 

Share repurchases

 

 

(1,304

)

 

 

 

 

 

(1,304

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OP Conversions

 

 

36

 

 

 

(36

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Share Price at December 31, 2018

 

$

23.76

 

 

 

 

 

 

 

 

 

 

Balance at 3/31/2018

 

 

82,451

 

 

 

4,969

 

 

 

87,420

 

 

 

83,438

 

 

 

83,438

 

 

 

89,067

 

 

 

89,067

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

13

 

 

 

18

 

 

 

31

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity Capitalization - Common Shares and OP Units

 

$

2,057,307

 

 

 

 

 

 

 

 

 

 

Share repurchases

 

 

(990

)

 

 

 

 

 

(990

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred OP Units

 

 

11,864

 

2

 

 

 

 

 

 

 

 

OP Conversions

 

 

29

 

 

 

(29

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Equity Capitalization

 

 

2,069,171

 

 

68%

 

 

69%

 

 

Balance at 6/30/2018

 

 

81,503

 

 

 

4,958

 

 

 

86,461

 

 

 

81,756

 

 

 

82,592

 

 

 

87,485

 

 

 

88,272

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

1

 

 

 

 

 

 

1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt Capitalization

 

 

 

 

 

 

 

 

 

 

 

 

 

OP Conversions

 

 

46

 

 

 

(46

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated debt

 

 

1,560,333

 

 

 

 

 

 

 

 

 

 

Balance at 9/30/2018

 

 

81,550

 

 

 

4,912

 

 

 

86,462

 

 

 

81,566

 

 

 

82,245

 

 

 

87,251

 

 

 

87,900

 

Adjustment to reflect pro-rata share of debt

 

 

(596,557

)

 

 

 

 

 

 

 

 

 

Other

 

 

(3

)

 

 

128

 

 

 

125

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Debt Capitalization

 

 

963,776

 

 

32%

 

 

31%

 

 

OP Conversions

 

10

 

 

 

(10

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at 12/31/2018

 

 

81,557

 

 

 

5,030

 

 

 

86,587

 

 

 

81,591

 

 

 

82,080

 

 

 

87,212

 

 

 

87,728

 

Total Market Capitalization

 

$

3,032,947

 

3

100%

 

 

100%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

__________

 

1.

Reflects debt net of Core Portfolio cash of $12,982 and pro-rata share of Funds cash of $3,452 for total cash netted against debt of $16,434.

 

 

 

2.

Represents 188 Series A and 136,593 Series C Preferred OP Units convertible into 25,067 and 474,278 Common OP Units, respectively, multiplied by the Common Share price at quarter end.

 

 

 

3.

Market capitalization comprises (fixed-rate debt includes notional principal fixed through interest rate swap transactions):

 

 

 

 

4