Acadia Realty Trust (NYSE:AKR) Q3 2023 Earnings Call Transcript October 31, 2023 11:00 AM ET

Company Participants

John Demoulas - Analyst

Ken Bernstein - President and CEO

AJ Levine - SVP, Leasing and Development

John Gottfried - EVP, CFO

Conference Call Participants

Floris van Dijkum - Compass Point

Ki Bin Kim - Truist

Linda Tsai - Jefferies

Craig Mailman - Citi

Todd Thomas - KeyBanc Capital Markets

Lizzy Doykan - BofA Securities

Paulina Rojas Schmidt - Green Street

Operator

Good day and thank you for standing by. Welcome to the Q3 2023 Acadia Realty Trust Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised today's conference is being recorded.

I would now like to hand the conference over to your speaker today, John Demoulas. Please go ahead.

John Demoulas

Good morning, and thank you for joining us for the third quarter 2023 Acadia Realty Trust earnings conference call. My name is John Demoulas and I am an analyst in our finance department. 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, October 31, 2023, 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 these 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

Thanks, John, great job. Welcome everyone, happy Halloween. I'll give a few comments, then I'll turn the call over to AJ Levine who heads up our Leasing and Development division, then to John, and after that, John, Stuart, AJ, and I will take questions.