AKR - Acadia Realty revises 2022 guidance to exclude delayed Albertsons dividend
- Acadia Realty Trust ( NYSE: AKR ) has revised its 2022 guidance because the REIT hasn't received its share of a special dividend from Albertsons ( ACI ) merger with Kroger ( KR ) due to a temporary restraining order preventing the payment of the dividend.
- As of Q3 2022, Acadia ( AKR ) had expected to post FY2022 FFO before special items attributable to common shareholders and common OP unit holder of $1.28-$1.30 per share. Now the company expects to earn $1.17-$1.19.
- Guidance for 2022 FFO before special items, excluding net promote and other core and fund profit, is $1.16-$1.18 per share, unchanged from its previous guidance.
- Acadia ( AKR ) had expected to recognized its pro rata share of the special dividend of ~$0.11 per AKR share in Q4 2022.
- In December, the Albertsons ( ACI ) dividend remained halted as Washington state had set a February court date.
- The Washington Supreme Court will review an appeal of the Attorney General of the State of Washington on Jan. 17, 2023. The temporary restraining order will remain in effect until there is a further order issued by the Washington Supreme Court.
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Acadia Realty revises 2022 guidance to exclude delayed Albertsons dividend