Acadia Realty Trust (NYSE: AKR) reported earnings on Feb. 7. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Acadia Realty Trust crushed expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue improved and GAAP earnings per share increased.

Gross margins contracted, operating margins dropped, and net margins grew.

Revenue details
Acadia Realty Trust tallied revenue of $35.8 million. The four analysts polled by S&P Capital IQ looked for a top line of $22.5 million. Sales were 22% lower than the prior-year quarter's $34.6 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.

EPS details
EPS came in at $0.19. The four earnings estimates compiled by S&P Capital IQ predicted $0.12 per share. GAAP EPS of $0.19 for Q4 were 12% higher than the prior-year quarter's $0.17 per share.

Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 67.4%, 400 basis points worse than the prior-year quarter. Operating margin was 29.3%, 870 basis points worse than the prior-year quarter. Net margin was 20.6%, 630 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $23.5 million. On the bottom line, the average EPS estimate is $0.13.

Next year's average estimate for revenue is $99.2 million. The average EPS estimate is $0.53.

Investor sentiment
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Acadia Realty Trust is outperform, with an average price target of $21.56.

Over the decades, small-cap stocks like Acadia Realty Trust have produced market-beating returns, provided they're value-priced and have solid businesses. Read about a pair of companies with a lock on their markets in "Too Small to Fail: 2 Small Caps the Government Won't Let Go Broke." Click here for instant access to this free report.