05:25 PM EDT, 04/29/2024 (MT Newswires) -- Acadia Realty Trust ( AKR ) reported Q1 funds from operations before special items late Monday of $0.33 per diluted share, down from $0.40 per share a year earlier.

Analysts polled by Capital IQ expected FFO of $0.30.

Revenue for the quarter ended March 31 rose to $91.4 million from $81.8 million a year earlier. Two analysts surveyed by Capital IQ expected $84.6 million.

For 2024, the company said it is reaffirming its outlook for FFO before special items. In February, Acadia Realty ( AKR ) projected FFO before special items in a range of $1.24 to $1.32 per share. The consensus is for FFO of $1.28.

The company's shares were down 1.9% in after-hours activity.

Price: 17.27, Change: -0.33, Percent Change: -1.87