Acadia Realty Trust (AKR) announced a decrease in its first-quarter's Funds from Operations (FFOs) on Monday. It dropped to $30.9 million or $0.28 per share, down from $40.7 million or $0.40 per share in the same period last year. The FFOs before considering special items stood at $37 million or $0.33 per share, compared to $40.7 million or $0.40 per share in the same quarter a year ago.
The company's profits also declined, falling to $3.27 million or $0.03 per share from $13.4 million or $0.14 per share the previous year. Despite this, revenue rose to $91.3 million, showing an increase from $81.8 million in the previous year.
According to the average predictions of analysts surveyed by Thomson Reuters, the anticipated earnings were $0.06 per share for the quarter.
