Acadia Realty Trust (NYSE: AKR – “Acadia” or the “Company”), a real
estate investment trust (“REIT”), today announced the Company’s dividend
for the first quarter ending March 31, 2009.
Acadia’s Board of Trustees has declared a cash dividend of $0.21 per
Common Share payable on April 15, 2009 to holders of record as of March
31, 2009.
The Company also announced details for its upcoming Annual
Shareholder Meeting. Acadia's Board of Trustees has set the meeting date
for Wednesday, May 13, 2009 at 10:00 am EST. The meeting will be held at
Acadia’s corporate office at 1311 Mamaroneck Avenue, Suite 260, White
Plains, NY 10605. The record date for determination of shareholders
entitled to vote is March 31, 2009.
Acadia Realty Trust, headquartered in White Plains, NY, is a fully
integrated, self-managed and self-administered equity REIT focused
primarily on the ownership, acquisition, redevelopment and management of
retail and mixed-use properties including neighborhood and community
shopping centers located in dense urban and suburban markets in major
metropolitan areas.
Certain matters in this press release, including statements relating
to our future operating results, may constitute forward-looking
statements within the meaning of federal securities law and as such may
involve known and unknown risk, uncertainties and other factors that may
cause the actual results, performances or achievements of Acadia to be
materially different from any future results, performances or
achievements expressed or implied by such forward-looking statements.
These forward-looking statements include statements regarding our future
financial results and our ability to capitalize on potential
opportunities arising from the current economic turmoil. Factors
that could cause our forward-looking statements to differ from our
future results include, but are not limited to, those discussed under
the headings “Risk Factors” and "Management's Discussion and Analysis of
Financial Condition and Results of Operations" in the Company’s most
recent annual report on Form 10-K filed with the SEC on February 27,
2009 (“Form 10-K”) and other periodic reports filed with the SEC,
including risks related to: (i) the current global financial
crisis and its effect on retail tenants, including several recent
bankruptcies of major retailers; (ii) the Company’s reliance on revenues
derived from major tenants; (iii) the Company’s limited control over
joint venture investments; (iv) the Company’s partnership structure; (v)
real estate and the geographic concentration of our properties; (vi)
market interest rates; (vii) leverage; (viii) liability for
environmental matters;(ix) the Company’s growth strategy; (x) the
Company’s status as a REIT (xi) uninsured losses and (xii) the loss of
key executives. Copies of the Form 10-K and the other periodic reports
Acadia files with the SEC are available on the Company’s website at www.acadiarealty.com.
Any forward-looking statements in this press release speak only as of
the date hereof. Acadia expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change in
Acadia's expectations with regard thereto or change in events,
conditions or circumstances on which any such statement is based.
Acadia Realty Trust
Jon Grisham, 914-288-8100
