Acadia Realty Trust (NYSE:AKR) Q1 2022 Earnings Conference Call May 3, 2022 11:00 AM ET

Company Participants

Rielle Green - Director of ESG

Ken Bernstein - President and CEO

John Gottfried - CFO

Amy Racanello - SVP, Capital Markets and Investments

Conference Call Participants

Todd Thomas - KeyBanc Capital

Linda Tsai - Jefferies

Michael Bilerman - Citi

Craig Schmidt - Bank of America Merrill Lynch

Mike Mueller - JPMorgan

Paulina Rojas - Green Street

Operator

Ladies and gentlemen, thank you for standing by. And welcome to the Q1 2022 Acadia Realty Trust Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions]

I would now like to turn the call over to your host, Rielle Green. You may begin.

Rielle Green

Good afternoon. And thank you for joining us for the first quarter 2022 Acadia Realty Trust earnings conference call. My name is Rielle Green, and I am the Director of ESG at Acadia.

Before we begin, please be aware that statements made during the call that are not historical may be deemed forward-looking statements within the meaning of the Securities and Exchange Act of 1934. And actual results may differ materially from those indicated by such forward-looking statements.

Due to a variety of risks and uncertainties, including those disclosed in the company’s most recent Form 10-K and other periodic filings with the SEC, forward-looking statements speak only as of the date of this call, May 3, 2022 and the company undertakes no duty to update them.

During this call, management may refer to certain non-GAAP financial measures, including funds from operations and net operating income. Please see Acadia’s earnings press release posted on its website for reconciliations of those non-GAAP financial measures with the most directly comparable GAAP financial measures.

Once the call becomes open for questions, we ask that you limit your first round to two questions per caller to give everyone the opportunity to participate. You may ask further questions by reinserting yourself into the queue and we will answer as time permits.

Now, it is my pleasure to turn the call over to Ken Bernstein, President and Chief Executive Officer, who will begin today’s management remarks.

Ken Bernstein

Great job, Rielle. Thank you. Welcome everyone. Good morning. We had another solid quarter both in terms of our internal growth, as well as our external investment activities. And while, over the past quarter, there has been significant volatility in the capital markets and legitimate concerns around inflation and economic growth.