ValuEngine cut shares of American Campus Communities (NYSE:ACC) from a buy rating to a hold rating in a report issued on Thursday, ValuEngine reports.
A number of other brokerages have also recently weighed in on ACC. Robert W. Baird boosted their price target on shares of American Campus Communities from $50.00 to $52.00 and gave the company an outperform rating in a research report on Thursday, July 11th. Capital One Financial raised shares of American Campus Communities from an equal weight rating to an overweight rating in a research report on Monday, July 8th. Zacks Investment Research cut shares of American Campus Communities from a buy rating to a hold rating in a research report on Thursday. Argus raised shares of American Campus Communities from a hold rating to a buy rating and set a $53.00 price target for the company in a research report on Wednesday. Finally, JMP Securities cut shares of American Campus Communities from an outperform rating to a market perform rating in a research report on Wednesday, May 29th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. American Campus Communities presently has a consensus rating of Hold and an average target price of $49.43.
Shares of ACC opened at $46.81 on Thursday. American Campus Communities has a 1-year low of $38.40 and a 1-year high of $49.33. The stock has a market capitalization of $6.37 billion, a PE ratio of 20.26 and a beta of 0.40. The company has a current ratio of 1.46, a quick ratio of 1.61 and a debt-to-equity ratio of 0.94. The company has a fifty day moving average of $47.35.
American Campus Communities (NYSE:ACC) last announced its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. American Campus Communities had a net margin of 9.27% and a return on equity of 2.05%. The firm had revenue of $203.20 million during the quarter, compared to analysts’ expectations of $206.82 million. During the same period in the previous year, the company earned $0.52 earnings per share. American Campus Communities’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, analysts anticipate that American Campus Communities will post 2.42 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 12th will be paid a $0.47 dividend. The ex-dividend date is Friday, August 9th. This represents a $1.88 dividend on an annualized basis and a yield of 4.02%. American Campus Communities’s dividend payout ratio is presently 81.39%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Qube Research & Technologies Ltd acquired a new position in American Campus Communities during the second quarter worth about $269,000. Swiss National Bank grew its position in American Campus Communities by 2.1% during the second quarter. Swiss National Bank now owns 254,952 shares of the real estate investment trust’s stock worth $11,769,000 after buying an additional 5,200 shares during the period. Envestnet Asset Management Inc. grew its position in American Campus Communities by 2.6% during the second quarter. Envestnet Asset Management Inc. now owns 119,934 shares of the real estate investment trust’s stock worth $5,536,000 after buying an additional 3,059 shares during the period. Diamond Hill Capital Management Inc. grew its position in American Campus Communities by 0.7% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,968,973 shares of the real estate investment trust’s stock worth $90,888,000 after buying an additional 14,430 shares during the period. Finally, Kornitzer Capital Management Inc. KS purchased a new stake in shares of American Campus Communities in the second quarter valued at about $1,647,000. Institutional investors own 96.79% of the company’s stock.
About American Campus Communities
American Campus Communities, Inc is the largest owner, manager and developer of high-quality student housing communities in the United States. The company is a fully integrated, self-managed and self-administered equity real estate investment trust (REIT) with expertise in the design, finance, development, construction management and operational management of student housing properties.
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