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): July 26, 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                       Press release dated July 26, 2004


ITEM 12. Results of Operations and Financial Condition

On July 26, 2004, the Registrant  announced its consolidated  financial  results
for the quarter ended June 30, 2004. A copy of the  Registrant's  earnings press
release is furnished as Exhibit 99.1 to this report on Form 8-K. The information
contained in Item 12. 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.






                                   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: July 26, 2004                             By: /s/ Michael Nelsen
                                                -------------------------------
                                                    Name:  Michael Nelsen
                                                    Title: Sr. Vice President
                                                    and Chief Financial Officer



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