Acadia Realty Trust reported its financial results for the three and nine months ended September 30, 2026, disclosing a net loss of $0.03 per share for the quarter. This compares to net earnings of $0.03 per share in the prior year period. The company reported NAREIT Funds From Operations (FFO) of $0.30 per share and FFO As Adjusted of $0.31 per share for the third quarter of 2026.
The company’s REIT Portfolio same-property net operating income (NOI) increased by 10.2% in the third quarter of 2026, driven by a 15.2% increase in its street retail portfolio. For the nine months ended September 30, 2026, same-property NOI growth was 8.3%. Acadia anticipates full-year 2026 same-property NOI growth of 7.5% to 8.5%.
In terms of leasing, the company reported conforming GAAP and cash leasing spreads on new leases of 98% and 62%, respectively. The company’s signed-not-opened (SNO) pipeline grew 32% to $21.8 million as of September 30, 2026, driven by approximately $8.4 million of new leasing activity.
Acadia completed approximately $152 million of accretive street retail acquisitions during the third quarter. Specific acquisitions included 44 Main Street in Westport, Connecticut ($23 million); 69-73 Greene Street in Soho, Manhattan ($66 million); 385 Bleecker Street and 371-373 Bleecker Street in the West Village ($20 million); 171-173 Greenwich Avenue in Greenwich, Connecticut ($10 million); and 8800-8804 Melrose Avenue in West Hollywood ($30 million).
The company revised its full-year 2026 net earnings per share guidance to $0.29-$0.30, down from the previously issued range of $0.40-$0.41. Acadia maintained its full-year NAREIT FFO and 2026 FFO As Adjusted guidance.
Regarding its Henderson Avenue development in Dallas, leasing activity reached approximately 90% of retail gross leasable area (GLA) as of September 30, 2026. The company projects a yield on cost of 8% to 10% for the entire project. NOI contributions are expected to be weighted toward the second half of 2027.
