Acadia Realty Trust (AKR) reported Q3 funds from operations Monday of $0.28 per share, up from $0.26 a year earlier.
Analysts polled by Capital IQ expected $0.31.
Revenue for the quarter ended Sept. 30 was $87.7 million, compared with $81.4 million a year earlier.
Three analysts surveyed by Capital IQ expected $79.7 million.