Business in the Burbs

Earnings fall at Acadia Realty Trust in 2Q

July

Acadia Realty Trust, a White Plains real estate investment trust that specializes in retail shopping centers, felt the effects of a slower economy during the second quarter.

Acadia said that earnings per share from continuing operations dropped to 18 cents during the quarter, down from 30 cents a year earlier. Funds from operations slipped to 30 cents a share from 38 cents a year earlier as the company faced lower occupancy and declining rents.

The slowdown in consumer spending and store closings have put pressure on real estate companies across the company that focus on retail properties.

This entry was posted on Thursday, July 30th, 2009 at 2:34 pm by Jay Loomis. You can follow any responses to this entry through the RSS 2.0 feed.
Category: Earnings

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