SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


        Date of Report (Date of Earliest Event Reported): April 22, 2004


                               ACADIA REALTY TRUST
             (Exact name of registrant as specified in its charter)


            Maryland                 1-12002                23-2715194
        (State or other            (Commission           (I.R.S. Employer
 jurisdiction of incorporation)     File Number)         Identification No.)


                        1311 Mamaroneck Avenue
                                Suite 260
                         White Plains, New York            10605
                (Address of principal executive offices) (Zip Code)


                                 (914) 288-8100
              (Registrant's telephone number, including area code)


          (Former name or former address, if changed since last report)







ITEM 7. Financial Statements, Pro Forma Financial Information and Exhibits

(c) Exhibits


Exhibit Number             Description
--------------             --------------------------------
99.1                       Financial and Operating Reporting Supplement for the
                           Quarter Ended March 31, 2004
99.2                       Press release dated April 22, 2004


ITEM 9. Regulation FD Disclosure

On April 22, 2004, the Registrant, Acadia Realty Trust, made available
supplemental information concerning the ownership, operations and portfolio of
the Registrant as of March 31, 2004. A copy of this supplemental information is
furnished as Exhibit 99.1 to this report on Form 8-K. The information contained
in Item 9. of this report on Form 8-K, including Exhibit 99.1, shall not be
deemed "filed" with the Securities and Exchange Commission nor incorporated by
reference in any registration statement filed by the Registrant under the
Securities Act of 1933, as amended.

ITEM 12. Results of Operations and Financial Condition

On April 22, 2004, the Registrant announced its consolidated financial results
for the quarter ended March 31, 2004. A copy of the Registrant's earnings press
release is furnished as Exhibit 99.2 to this report on Form 8-K. The information
contained in Item 12. of this report on Form 8-K, including Exhibit 99.2, shall
not be deemed "filed" with the Securities and Exchange Commission nor
incorporated by reference in any registration statement filed by the Registrant
under the Securities Act of 1933, as amended.






                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                  ACADIA REALTY TRUST
                                    (Registrant)


Date: April 22, 2004              By: /s/ Michael Nelsen

                                  Name:  Michael Nelsen
                                  Title: Sr. Vice President and Chief Financial
                                         Officer