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Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2025

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted


		Three Months Ended September 30,								Nine Months Ended September 30,
(dollars in thousands, except per share data)		2025				2024				2025				2024
Numerator:
Net income attributable to Acadia shareholders		$	5,618			$	8,414			$	9,189			$	13,126
Less: adjustment of redeemable non-controlling interest to estimated redemption value (Note 10)			(888	)			—				(888	)			—
Less: net income attributable to participating securities			(340	)			(306	)			(1,017	)			(883	)
Income from continuing operations net of income attributable to participating securities for basic earnings per share		$	4,390			$	8,108			$	7,284			$	12,243

Denominator:
Weighted average shares for basic earnings per share			131,019,918				108,351,254				127,812,182				104,703,763
Effect of dilutive securities:
Series A Preferred OP Units			—				—				—				—
Employee unvested restricted shares			2,312				—				6,531				—
Assumed settlement of forward sales agreements (Note 10)			—				—				—				—
Denominator for diluted earnings per share			131,022,230				108,351,254				127,818,713				104,703,763

Basic earnings per Common Share from continuing operations attributable to Acadia shareholders		$	0.03			$	0.07			$	0.06			$	0.12
Diluted earnings per Common Share from continuing operations attributable to Acadia shareholders		$	0.03			$	0.07			$	0.06			$	0.12

Anti-Dilutive Shares Excluded from Denominator:
Series A Preferred OP Units			188				188				188				188
Series A Preferred OP Units - Common share equivalent			25,067				25,067				25,067				25,067

Series C Preferred OP Units			66,519				66,519				66,519				66,519
Series C Preferred OP Units - Common share equivalent			230,967				230,967				230,967				230,967
Restricted shares			77,046				81,175				72,827				81,175