UPDATE: CapitalOne Downgrades American Campus Communities (ACC) to Equal-weight

(Updated - April 26, 2022 5:09 AM EDT)

CapitalOne analyst Neil Malkin downgraded American Campus Communities (NYSE: ACC) from Overweight to Equal-weight with a price target of $65.47.

The analyst comments "ACC reported a better-than-expected 1Q22 result, driven by stronger occupancy and rent growth. We are downgrading ACC to Equalweight from Overweight, solely because the shares are trading close to Blackstone's takeout price. Our new price target is $65.47. Expected to close in 3Q22, this transaction is a win/win for shareholders and ACC, in our view. The company will have the ability to more aggressively pursue its on-campus development pipeline and Power 5/R1-focused acquisition strategy."

For an analyst ratings summary and ratings history on American Campus Communities click here. For more ratings news on American Campus Communities click here.

Shares of American Campus Communities closed at $64.75 yesterday.

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