OppenheimerFunds Inc. purchased a new position in shares of American Campus Communities, Inc. (NYSE:ACC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 31,873 shares of the real estate investment trust’s stock, valued at approximately $1,308,000.
Other institutional investors have also bought and sold shares of the company. Cohen & Steers Inc. grew its holdings in American Campus Communities by 20.2% during the third quarter. Cohen & Steers Inc. now owns 16,080,372 shares of the real estate investment trust’s stock worth $709,948,000 after purchasing an additional 2,704,851 shares during the period. Green Street Investors LLC acquired a new stake in American Campus Communities during the fourth quarter worth approximately $1,723,000. Crossmark Global Holdings Inc. acquired a new stake in American Campus Communities during the third quarter worth approximately $647,000. Sarasin & Partners LLP lifted its position in American Campus Communities by 33.6% during the third quarter. Sarasin & Partners LLP now owns 172,791 shares of the real estate investment trust’s stock worth $7,629,000 after acquiring an additional 43,418 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in American Campus Communities by 55.4% during the third quarter. Stifel Financial Corp now owns 7,996 shares of the real estate investment trust’s stock worth $352,000 after acquiring an additional 2,850 shares during the last quarter.
In other news, Director John T. Rippel acquired 5,000 shares of the stock in a transaction on Friday, March 23rd. The stock was acquired at an average cost of $36.50 per share, for a total transaction of $182,500.00. Following the completion of the transaction, the director now directly owns 3,040 shares in the company, valued at $110,960. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.67% of the stock is currently owned by insiders.
ACC has been the subject of several research reports. KeyCorp restated an “overweight” rating and set a $47.00 price objective (down from $56.00) on shares of American Campus Communities in a research report on Wednesday, December 20th. Sandler O’Neill upgraded shares of American Campus Communities from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Friday, January 12th. Zacks Investment Research upgraded shares of American Campus Communities from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. Hilliard Lyons upgraded shares of American Campus Communities from a “neutral” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Thursday, February 22nd. Finally, JPMorgan Chase downgraded shares of American Campus Communities from a “neutral” rating to an “underweight” rating and set a $45.00 price objective for the company. in a research report on Friday, December 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $47.23.
Shares of NYSE ACC traded down $0.09 during midday trading on Friday, reaching $38.72. The company’s stock had a trading volume of 950,622 shares, compared to its average volume of 872,000. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.86. American Campus Communities, Inc. has a fifty-two week low of $34.52 and a fifty-two week high of $49.93. The company has a market cap of $5,289.18, a price-to-earnings ratio of 16.71, a PEG ratio of 11.72 and a beta of 0.19.
American Campus Communities (NYSE:ACC) last released its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. American Campus Communities had a net margin of 8.67% and a return on equity of 1.96%. The company had revenue of $227.60 million during the quarter, compared to the consensus estimate of $200.28 million. During the same period in the previous year, the business earned $0.65 earnings per share. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. equities research analysts forecast that American Campus Communities, Inc. will post 2.38 earnings per share for the current year.
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About American Campus Communities
American Campus Communities, Inc is a self-managed and self-administered equity real estate investment trust (REIT). The Company’s segments include Wholly-Owned Properties, On-Campus Participating Properties, Development Services, and Property Management Services. It is engaged in the acquisition, design, financing, development, construction management, leasing and management of student housing properties.
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