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Campus Crest Communities (NYSE:CCG) reached a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings, American Banking News reports. The stock traded as low as $7.88 and last traded at $8.11, with a volume of 1,290,096 shares. The stock had previously closed at $8.67.

The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by $0.03. The company had revenue of $35.25 million for the quarter, compared to the consensus estimate of $24.26 million. The company’s revenue for the quarter was down 3.5% on a year-over-year basis.

The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 8th. Stockholders of record on Wednesday, September 24th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 7.61%. The ex-dividend date is Monday, September 22nd.

A number of analysts have recently weighed in on CCG shares. Analysts at Wunderlich downgraded shares of Campus Crest Communities from a “buy” rating to a “hold” rating in a research note on Thursday. They now have a $9.00 price target on the stock, down previously from $10.00. Separately, analysts at Barclays raised their price target on shares of Campus Crest Communities from $10.00 to $11.00 in a research note on Monday, July 21st. They now have an “equal weight” rating on the stock. Finally, analysts at Bank of America downgraded shares of Campus Crest Communities from a “neutral” rating to an “underperform” rating in a research note on Friday, June 13th. They now have a $8.00 price target on the stock, down previously from $9.00. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $9.80.

The stock’s 50-day moving average is $8.77 and its 200-day moving average is $8.78. The company’s market cap is $521.6 million.

Campus Crest Communities, Inc is a self-managed, self-administered and vertically-integrated developer, builder, owner and manager of purpose-built student housing properties in the United States.

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