J.P. Morgan Neutral On Acadia (AKR)

J.P. Morgan Chase & Co is reiterating its and $15 price target on shares of Acadia Realty Trust AKR after the REIT that was better than J.P. Morgan estimates. In the report, J.P. Morgan writes, "...AKR reported 2Q FFO/share that was ahead of our estimate largely on better than expected G&A/interest expense. With core results running ahead of our model (and management’s prior expectations), the company also raised guidance by $0.10 (about 10%, on a recurring basis). While we saw management’s prior guidance range may have been a bit conservative, this is still a positive, in our view." Shares of Acadia are trading at $18.54, up 29‎ cents in Wednesday trading.