Renaissance Technologies LLC cut its stake in shares of American Campus Communities, Inc. (NYSE:ACC) by 49.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,200 shares of the real estate investment trust’s stock after selling 153,100 shares during the quarter. Renaissance Technologies LLC owned 0.12% of American Campus Communities worth $6,532,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ACC. CrestPoint Capital Management LLC bought a new stake in shares of American Campus Communities during the 4th quarter worth $246,000. Jane Street Group LLC acquired a new stake in shares of American Campus Communities in the third quarter worth $347,000. Stifel Financial Corp boosted its position in shares of American Campus Communities by 55.4% in the third quarter. Stifel Financial Corp now owns 7,996 shares of the real estate investment trust’s stock worth $352,000 after buying an additional 2,850 shares during the period. Amica Retiree Medical Trust acquired a new stake in shares of American Campus Communities in the fourth quarter worth $426,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of American Campus Communities in the fourth quarter worth $599,000.
Several brokerages have recently commented on ACC. Deutsche Bank raised their target price on American Campus Communities from $42.00 to $43.00 and gave the stock a “hold” rating in a research report on Wednesday, March 28th. Zacks Investment Research raised American Campus Communities from a “sell” rating to a “hold” rating in a research report on Wednesday, March 21st. JPMorgan Chase reaffirmed an “underweight” rating and issued a $41.00 target price (down previously from $45.00) on shares of American Campus Communities in a research report on Friday, March 16th. Citigroup decreased their target price on American Campus Communities from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, March 13th. Finally, Sandler O’Neill reaffirmed a “buy” rating and issued a $43.00 target price on shares of American Campus Communities in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $47.23.
In other news, Director John T. Rippel acquired 5,000 shares of American Campus Communities stock in a transaction that occurred on Friday, March 23rd. The stock was purchased at an average price of $36.50 per share, with a total value of $182,500.00. Following the completion of the transaction, the director now owns 3,040 shares in the company, valued at $110,960. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.67% of the stock is currently owned by company insiders.
ACC opened at $38.30 on Friday. The firm has a market cap of $5,353.33, a P/E ratio of 17.05, a PEG ratio of 11.86 and a beta of 0.19. American Campus Communities, Inc. has a 1 year low of $34.52 and a 1 year high of $49.93. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.86.
American Campus Communities (NYSE:ACC) last released its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The firm had revenue of $227.60 million during the quarter, compared to analysts’ expectations of $200.28 million. American Campus Communities had a return on equity of 1.96% and a net margin of 8.67%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. analysts predict 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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