Acadia Realty Trust Appoints David Buell as New Chief Accounting Officer
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 19 2025
0mins
Should l Buy AKR?
Acadia Realty Trust announced that David Buell will join the company in January 2026 as its new Chief Accounting Officer succeeding Richard Hartmann. Hartmann, who has been with Acadia Realty Trust since 1997 and has served as Chief Accounting Officer since 2012, will remain with the company to support the transition and will assume a new role as Senior Vice President, Strategic Initiatives. Prior to this, Buell was a Senior Manager in KPMG's audit practice, serving clients across multiple industries with a focus on real estate.
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Analyst Views on AKR
Wall Street analysts forecast AKR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AKR is 24.40 USD with a low forecast of 22.00 USD and a high forecast of 30.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
4 Buy
1 Hold
0 Sell
Strong Buy
Current: 21.000
Low
22.00
Averages
24.40
High
30.00
Current: 21.000
Low
22.00
Averages
24.40
High
30.00
About AKR
Acadia Realty Trust is an equity real estate investment trust (REIT). The Company is focused on the ownership, acquisition, development, and management of retail properties located primarily in high-barrier-to-entry, supply-constrained, densely populated metropolitan areas in the United States. The Company operates through three segments: Core Portfolio, Investment Management, and Structured Financing. The Company's Core Portfolio segment consists primarily of retail properties located primarily in high-barrier-to-entry, densely populated metropolitan areas with a long-term investment horizon. The Company's Investment Management segment holds primarily retail real estate in which the Company co-invests with high-institutional investors. The Company's Structured Financing segment consists of earnings and expenses related to notes and mortgages receivable. The Company has ownership interests in approximately 210 properties within its core portfolio and investment management.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Acadia Realty Trust Announces Executive Promotions and Retirement
- Executive Promotions: Acadia Realty Trust has promoted AJ Levine to EVP of Leasing and Development, adding oversight of property management and marketing, reflecting the company's recognition of his leadership since joining in 2019 as SVP.
- Financial Reporting Leadership: Erica Pipitone has been elevated to VP of Financial Reporting, overseeing SEC filings and technical accounting, having joined in 2020 as Director, indicating the company's commitment to financial transparency and compliance.
- Executive Retirement: Joseph Napolitano will retire around April 1, 2026, after 31 years of service, marking a significant leadership transition since he has been part of the senior leadership team since 2007.
- Strategic Adjustments: These executive changes reflect Acadia Realty Trust's strategic intent to continuously optimize its management team and enhance operational efficiency, aiming to lay a solid foundation for future growth.
See More
Acadia Realty Trust Announces Executive Promotions
- Executive Promotions: Acadia Realty Trust has promoted AJ Levine to Executive Vice President of Leasing and Development, where he will continue to drive internal growth strategies while enhancing leadership over property management and marketing teams.
- Financial Reporting Leadership: Erica Pipitone has been elevated to Vice President of Financial Reporting, overseeing the company's financial reporting activities, including SEC compliance, reflecting her progressive advancement within the accounting team since joining in 2020.
- Executive Retirement: Joseph Napolitano has notified the company of his intention to retire on April 1, 2026, concluding a 31-year career with Acadia, during which he successfully transitioned responsibilities to ensure operational continuity within the senior leadership team.
- Leadership Remarks: President and CEO Kenneth F. Bernstein expressed gratitude for Napolitano's contributions, highlighting his significant role in shaping the company culture and driving success, leaving a lasting legacy for future leadership.
See More
Acadia Realty Trust Announces Executive Promotions
- Executive Promotions: Acadia Realty Trust has announced the promotion of AJ Levine to Executive Vice President of Leasing and Development, which will enhance leadership in property management and marketing teams, further supporting the company's internal growth strategy.
- Financial Reporting Leadership: Erica Pipitone has been promoted to Vice President of Financial Reporting, continuing her oversight of SEC reporting and technical accounting matters, reflecting her progressive advancement within the accounting team since joining in 2020.
- Retirement Notification: Joseph Napolitano has notified the company of his intention to retire on April 1, 2026, after a 31-year career, marking a significant transition in the company's executive team that may impact future management structure.
- Leadership Remarks: Kenneth F. Bernstein, President and CEO, expressed gratitude for Napolitano's contributions, highlighting his pivotal role in shaping the company's culture and driving success, leaving a lasting legacy.
See More
ACADIA REALTY TRUST REVEALS IMPORTANT MANAGEMENT TEAM PROMOTIONS AND CHANGES
Key Promotions Announced: A realty trust has announced significant promotions within its management team, highlighting advancements in leadership roles.
Management Team Changes: The announcement includes changes aimed at enhancing the effectiveness and efficiency of the management team.
See More
REITs Show Strong Q1-Q3 2025 Performance with 6.2% FFO Growth
- Operational Performance: According to Nareit's report, REITs demonstrated strong operational performance in the first three quarters of 2025, with funds from operations (FFO) increasing by 6.2% year-over-year, indicating resilience and profitability in the sector.
- Dividend Growth: The sector also saw a 6.3% year-over-year increase in dividend payouts, reflecting the stability of company earnings and potentially attracting more capital inflows into the REIT market.
- Market Expectation Adjustments: Cohen & Steers noted that despite the strong performance, weaker-than-expected demand and disappointing fundamentals in 2026 are likely to lead to rising cap rates and declining asset values, prompting investors to approach the market with caution.
- Short Selling Trends: Ahead of the upcoming earnings season, Seeking Alpha compiled short interest data for REIT stocks with market caps over $2 billion, revealing that Medical Properties Trust (MPW) has the highest short interest at 25.09%, indicating significant pessimism among investors regarding this asset class.
See More
Acadia Realty Trust Appoints David Buell as New Chief Accounting Officer Starting January 2026
- Executive Transition: Acadia Realty Trust announced that David Buell will succeed Richard Hartmann as Chief Accounting Officer starting January 2026, with Hartmann transitioning to Senior Vice President of Strategic Initiatives to ensure a smooth handover.
- Extensive Experience: Buell brings over 15 years of experience in the real estate investment trust sector, having held several leadership roles, particularly as Chief Accounting Officer, which is expected to provide the company with fresh financial management perspectives and strategic direction.
- Audit Background: Prior to joining Acadia, Buell served as a Senior Manager at KPMG, focusing on audits in the real estate sector, and his expertise is anticipated to enhance the company's financial transparency and compliance.
- Strategic Development: This executive change not only highlights the company's commitment to internal talent but also reflects Acadia's long-term planning for financial management and strategic implementation, aiming to drive sustained profitable growth.
See More
Acadia Realty Trust Announces Executive Promotions and Retirement
- Executive Promotions: Acadia Realty Trust has promoted AJ Levine to EVP of Leasing and Development, adding oversight of property management and marketing, reflecting the company's recognition of his leadership since joining in 2019 as SVP.
- Financial Reporting Leadership: Erica Pipitone has been elevated to VP of Financial Reporting, overseeing SEC filings and technical accounting, having joined in 2020 as Director, indicating the company's commitment to financial transparency and compliance.
- Executive Retirement: Joseph Napolitano will retire around April 1, 2026, after 31 years of service, marking a significant leadership transition since he has been part of the senior leadership team since 2007.
- Strategic Adjustments: These executive changes reflect Acadia Realty Trust's strategic intent to continuously optimize its management team and enhance operational efficiency, aiming to lay a solid foundation for future growth.
See More
Acadia Realty Trust Announces Executive Promotions
- Executive Promotions: Acadia Realty Trust has promoted AJ Levine to Executive Vice President of Leasing and Development, where he will continue to drive internal growth strategies while enhancing leadership over property management and marketing teams.
- Financial Reporting Leadership: Erica Pipitone has been elevated to Vice President of Financial Reporting, overseeing the company's financial reporting activities, including SEC compliance, reflecting her progressive advancement within the accounting team since joining in 2020.
- Executive Retirement: Joseph Napolitano has notified the company of his intention to retire on April 1, 2026, concluding a 31-year career with Acadia, during which he successfully transitioned responsibilities to ensure operational continuity within the senior leadership team.
- Leadership Remarks: President and CEO Kenneth F. Bernstein expressed gratitude for Napolitano's contributions, highlighting his significant role in shaping the company culture and driving success, leaving a lasting legacy for future leadership.
See More
Acadia Realty Trust Announces Executive Promotions
- Executive Promotions: Acadia Realty Trust has announced the promotion of AJ Levine to Executive Vice President of Leasing and Development, which will enhance leadership in property management and marketing teams, further supporting the company's internal growth strategy.
- Financial Reporting Leadership: Erica Pipitone has been promoted to Vice President of Financial Reporting, continuing her oversight of SEC reporting and technical accounting matters, reflecting her progressive advancement within the accounting team since joining in 2020.
- Retirement Notification: Joseph Napolitano has notified the company of his intention to retire on April 1, 2026, after a 31-year career, marking a significant transition in the company's executive team that may impact future management structure.
- Leadership Remarks: Kenneth F. Bernstein, President and CEO, expressed gratitude for Napolitano's contributions, highlighting his pivotal role in shaping the company's culture and driving success, leaving a lasting legacy.
See More
ACADIA REALTY TRUST REVEALS IMPORTANT MANAGEMENT TEAM PROMOTIONS AND CHANGES
Key Promotions Announced: A realty trust has announced significant promotions within its management team, highlighting advancements in leadership roles.
Management Team Changes: The announcement includes changes aimed at enhancing the effectiveness and efficiency of the management team.
See More
REITs Show Strong Q1-Q3 2025 Performance with 6.2% FFO Growth
- Operational Performance: According to Nareit's report, REITs demonstrated strong operational performance in the first three quarters of 2025, with funds from operations (FFO) increasing by 6.2% year-over-year, indicating resilience and profitability in the sector.
- Dividend Growth: The sector also saw a 6.3% year-over-year increase in dividend payouts, reflecting the stability of company earnings and potentially attracting more capital inflows into the REIT market.
- Market Expectation Adjustments: Cohen & Steers noted that despite the strong performance, weaker-than-expected demand and disappointing fundamentals in 2026 are likely to lead to rising cap rates and declining asset values, prompting investors to approach the market with caution.
- Short Selling Trends: Ahead of the upcoming earnings season, Seeking Alpha compiled short interest data for REIT stocks with market caps over $2 billion, revealing that Medical Properties Trust (MPW) has the highest short interest at 25.09%, indicating significant pessimism among investors regarding this asset class.
See More
Acadia Realty Trust Appoints David Buell as New Chief Accounting Officer Starting January 2026
- Executive Transition: Acadia Realty Trust announced that David Buell will succeed Richard Hartmann as Chief Accounting Officer starting January 2026, with Hartmann transitioning to Senior Vice President of Strategic Initiatives to ensure a smooth handover.
- Extensive Experience: Buell brings over 15 years of experience in the real estate investment trust sector, having held several leadership roles, particularly as Chief Accounting Officer, which is expected to provide the company with fresh financial management perspectives and strategic direction.
- Audit Background: Prior to joining Acadia, Buell served as a Senior Manager at KPMG, focusing on audits in the real estate sector, and his expertise is anticipated to enhance the company's financial transparency and compliance.
- Strategic Development: This executive change not only highlights the company's commitment to internal talent but also reflects Acadia's long-term planning for financial management and strategic implementation, aiming to drive sustained profitable growth.
See More
