American Campus Communities, Inc. (NYSE:ACC) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 1,930,000 shares, a decrease of 12.7% from the August 30th total of 2,210,000 shares. Approximately 1.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 655,100 shares, the days-to-cover ratio is presently 2.9 days.
NYSE ACC traded down $0.41 during trading hours on Monday, reaching $48.20. The company had a trading volume of 10,202 shares, compared to its average volume of 650,816. The stock has a 50-day moving average of $47.40 and a 200 day moving average of $47.21. American Campus Communities has a 1-year low of $38.40 and a 1-year high of $49.33. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $6.66 billion, a P/E ratio of 20.84 and a beta of 0.37.
American Campus Communities (NYSE:ACC) last posted its earnings results on Monday, July 22nd. The real estate investment trust reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $203.20 million for the quarter, compared to analysts’ expectations of $206.82 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. American Campus Communities’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts predict that American Campus Communities will post 2.42 EPS for the current year.
Several research analysts have recently weighed in on the stock. TheStreet cut shares of American Campus Communities from a “b-” rating to a “c” rating in a research report on Monday, July 22nd. Argus raised shares of American Campus Communities from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Wednesday, July 31st. 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. Finally, Zacks Investment Research cut shares of American Campus Communities from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $50.33.
In other news, Director Oliver Luck sold 12,216 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $48.05, for a total transaction of $586,978.80. Following the completion of the sale, the director now owns 4,647 shares of the company’s stock, valued at $223,288.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.75% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Phocas Financial Corp. acquired a new stake in shares of American Campus Communities during the second quarter worth about $32,000. FMR LLC lifted its position in shares of American Campus Communities by 1,518.3% during the first quarter. FMR LLC now owns 971 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 911 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of American Campus Communities during the second quarter worth about $60,000. Harvest Fund Management Co. Ltd lifted its position in shares of American Campus Communities by 25.4% during the second quarter. Harvest Fund Management Co. Ltd now owns 3,261 shares of the real estate investment trust’s stock worth $151,000 after purchasing an additional 661 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in shares of American Campus Communities by 5.9% during the second quarter. Commonwealth Equity Services LLC now owns 4,846 shares of the real estate investment trust’s stock worth $223,000 after buying an additional 268 shares during the period. 95.26% of the stock is currently owned by institutional investors.
American Campus Communities Company Profile
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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