Business in the Burbs

Acadia Realty reports profits surge in quarter

July

Acadia Realty Trust, a real-estate investment trust in White Plains, reported today profits soared in the second quarter to $17.91 million from $3.03 million in the year ago quarter.

Revenues more than doubled in the three months ending June 30 to $51.52 million from $25.25 million last year.

Funds from operations â€” a widely followed gauge of a real estate investment trustâ€™s performance â€” totaled $13.9 million, or 41 cents a share, compared with $8.8 million, or 26 cents a share, last year.

This entry was posted on Wednesday, July 30th, 2008 at 5:22 pm by David Schepp. You can follow any responses to this entry through the RSS 2.0 feed.
Category: Earnings season, Real Estate

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