Acadia Realty Trust (AKR) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, ladies and gentlemen. Thank you for standing by. Welcome to the KDF Realty Trust Board Quarter 2025 earnings conference call. At this time, all participants are on a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. Please note that today's conference is being recorded. I will now hand the conference over to your speaker host for today, Will Delps. Please go ahead. Good afternoon. Thank you for joining us for the fourth quarter 2025 Acadia Realty Trust Earnings Conference Call. My name is Will Delves, and I'm an analyst in our Asset Management 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 for the SEC, forward-looking statements speak only as of the date of this call, February 11th, 2026, 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 giv...