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): February 17, 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 December 31, 2003
99.2                       Press release dated February 17, 2004


ITEM 9. Regulation FD Disclosure

On February 17, 2004,  the  Registrant,  Acadia  Realty  Trust,  made  available
supplemental  information concerning the ownership,  operations and portfolio of
the Registrant as of December 31, 2003. 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 February  17, 2004,  the  Registrant  announced  its  consolidated  financial
results  for the  quarter  and  year  ended  December  31,  2003.  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: February 17, 2004                 By: /s/ Michael Nelsen
                                           ------------------------------
                                            Name:  Michael Nelsen
                                            Title: Sr. Vice President and
                                                   Chief Financial Officer



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