Acadia (AKR) Q1 2026 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Wed, April 29, 2026 astatine 11:33 AM CDT

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DATE

Wednesday, April 29, 2026 astatine 11:00 a.m. ET

CALL PARTICIPANTS

• President and Chief Executive Officer — Kenneth F. Bernstein

• Executive Vice President and Chief Financial Officer — John Gottfried

• Executive Vice President, Head of Leasing — Alexander J. Levine

• Executive Vice President, Chief Investment Officer — Reginald Livingston

• Lease Administration and Due Diligence Analyst — Lynelle Ray

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Full Conference Call Transcript

Lynelle Ray: Good morning, and convey you for joining america for the archetypal 4th 2026 Acadia Realty Trust net league call. My sanction is Lynelle Ray, and I americium a lease medication and owed diligence analyst. Before we begin, delight beryllium alert that statements made during the telephone that are not humanities whitethorn beryllium deemed forward-looking statements wrong the meaning of the Securities Exchange Act of 1934, and existent results whitethorn disagree materially from those indicated by specified forward-looking statements owed to a assortment of risks and uncertainties, including those disclosed successful the company's astir caller Form 10-Ks and different periodic filings with the SEC.

Forward-looking statements talk lone arsenic of the day of this call, 04/29/2026, and the institution undertakes nary work to update them. During this call, absorption whitethorn notation to definite non-GAAP fiscal measures including funds from operations and nett operating income. Please spot Acadia Realty Trust’s net property merchandise posted connected its website for reconciliations of these non-GAAP fiscal measures with the astir straight comparable GAAP fiscal measures. Once the telephone becomes unfastened for questions, we inquire that you bounds your archetypal circular to 2 questions per caller to springiness everyone the accidental to participate. You whitethorn inquire further questions by reinserting yourself into the queue, and we volition reply arsenic clip permits.

Now it is my pleasance to crook the telephone implicit to Kenneth F. Bernstein, President and Chief Executive Officer, who volition statesman today's absorption remarks.

Kenneth F. Bernstein: Thank you, Lynelle. Great job. Welcome, everyone. As you tin spot successful our property release, we had different beardown 4th successful what is shaping up to beryllium a precise coagulated year, some with respect to our interior arsenic good arsenic our outer maturation initiatives. And portion geopolitical events person surely added unwanted uncertainty to the planetary economy, thankfully, owed to the tailwinds for open-air retail successful general, and past adjacent much truthful for thoroughfare retail, we are seeing continued beardown results driven by beardown tenant demand, beardown tenant performance, and charismatic concern opportunities. As the squad volition sermon successful much detail, we delivered 11% year-over-year net maturation driven by astir 6% same-store growth.