Acadia Realty Trust

Acadia Realty Trust acquired retail properties in the third quarter for roughly $119 million in prime locations, including Greene Street (SoHo), Bleecker Street (West Village), Greenwich Avenue and Melrose Avenue. The purchases include two storefronts on Greene Street for $60 million, three properties on Bleecker Street for $20 million, one property in Greenwich for $10 million and a Melrose property for $29 million. Since the start of the year Acadia has completed acquisitions totaling about $742 million and expects to meet its annual target of $400–500 million for prime retail acquisitions; to finance this, portions of forward sale agreements were executed, with expected net proceeds of approximately $352 million. In the third quarter the company signed 12 new leases with annualized base rent of about $4.8 million (of which $3.8 million relates to the prime retail portfolio). » More on de.investing.com

Acadia Realty Trust shares peaked at $22.90 (currently $22.89) and are up about 22.8% year-to-date, with a market capitalization of roughly $3.2 billion. InvestingPro rates the stock as overvalued, while the company has paid dividends for 28 years (yield 3.61%). Acadia announced a firm public offering of 9 million common shares at $21.95; Truist raised its price target to $24 (buy), and KeyBanc maintained sector weight after quarterly calls and site visits. » More on de.investing.com

Acadia Realty Trust announced a public, fully placed offering of 9 million common shares under forward purchase agreements; the stock fell 2.9% in after-hours trading. The forward purchasers borrow and sell the shares to syndicate banks, which have a 30‑day option on up to 1.35 million additional shares. Acadia initially receives no proceeds but expects cash proceeds per share upon physical settlement no later than June 9, 2027, and plans to use the net proceeds for acquisitions, repayment of indebtedness and working capital. » More on de.investing.com