SEC Filings

8-K
ACADIA REALTY TRUST filed this Form 8-K on 04/25/2019
Entire Document
 

 

 

 

 

 

Funds from Operations (“FFO”)1

Supplemental Report – March 31, 2019

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended

 

 

Quarter Ended

 

 

 

March 31,

2019

 

 

March 31,

2018

 

Funds from operations ("FFO"):

 

 

 

 

 

 

 

 

Net Income

 

$

12,197

 

 

$

7,419

 

Add back:

 

 

 

 

 

 

 

 

Depreciation of real estate and amortization of leasing costs (net of noncontrolling interest share)

 

 

21,999

 

 

 

21,085

 

Gain on disposition of depreciable properties (net of noncontrolling interest share)

 

 

(384

)

 

 

 

Income attributable to noncontrolling interests' share in Operating Partnership

 

 

930

 

 

 

612

 

FFO to Common Shareholders and Common OP Unit holders

 

$

34,742

 

 

$

29,116

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted Funds from operations ("AFFO"):

 

 

 

 

 

 

 

 

Diluted FFO

 

$

34,742

 

 

$

29,116

 

Straight-line rent, net

 

 

(498

)

 

 

(1,399

)

Above/(below)-market rent

 

 

(7,523

)

 

 

(2,177

)

Amortization of finance costs

 

 

696

 

 

 

595

 

Above/below-market interest

 

 

(47

)

 

 

(47

)

Non-real estate depreciation

 

 

117

 

 

 

111

 

Leasing commissions

 

 

(537

)

 

 

(212

)

Tenant improvements

 

 

(1,810

)

 

 

(1,224

)

Capital expenditures

 

 

(527

)

 

 

(957

)

AFFO to Common Shareholders and Common OP Unit holders

 

$

24,613

 

 

$

23,806

 

 

 

 

 

 

 

 

 

 

Total weighted average diluted shares and OP Units

 

 

87,969

 

 

 

89,067

 

 

 

 

 

 

 

 

 

 

Diluted FFO per Common share and OP Unit:

 

 

 

 

 

 

 

 

FFO

 

$

0.39

 

 

$

0.33

 

 

 

 

 

 

 

 

 

 

__________

 

1.

Quarterly results are unaudited, although they reflect all adjustments, which in the opinion of management are necessary for a fair presentation of operating results for the interim periods.

 

 

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