American Campus Communities Inc. (ACC) Shares Gap Up to $48.86
American Campus Communities Inc. (NYSE:ACC) gapped up prior to trading on Tuesday . The stock had previously closed at $48.78, but opened at $48.86. American Campus Communities shares last traded at $49.20, with a volume of 205,083 shares traded.
A number of brokerages have issued reports on ACC. Deutsche Bank AG raised their price target on shares of American Campus Communities from $47.00 to $48.00 and gave the stock a “hold” rating in a report on Wednesday, August 10th. Hilliard Lyons lowered shares of American Campus Communities from a “neutral” rating to an “underperform” rating in a report on Friday, July 1st. JPMorgan Chase & Co. raised their price target on shares of American Campus Communities from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Citigroup Inc. raised their price target on shares of American Campus Communities from $45.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, July 7th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $56.00 price target on shares of American Campus Communities in a report on Monday, July 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. American Campus Communities has an average rating of “Hold” and a consensus price target of $48.36.
The firm has a market capitalization of $6.42 billion, a P/E ratio of 63.44 and a beta of 0.33. The stock’s 50-day moving average price is $50.72 and its 200 day moving average price is $48.55.
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American Campus Communities (NYSE:ACC) last released its quarterly earnings results on Monday, July 25th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.02. American Campus Communities had a net margin of 12.26% and a return on equity of 3.02%. The company had revenue of $186 million for the quarter, compared to the consensus estimate of $174.85 million. During the same quarter in the prior year, the firm earned $0.57 earnings per share. American Campus Communities’s revenue was up 4.6% on a year-over-year basis. Equities analysts anticipate that American Campus Communities Inc. will post $2.25 earnings per share for the current year.
The company also recently announced a dividend, which was paid on Friday, August 26th. Stockholders of record on Monday, August 15th were paid a $0.42 dividend. The ex-dividend date of this dividend was Thursday, August 11th. American Campus Communities’s dividend payout ratio is currently 218.18%.
In other news, EVP James E. Wilhelm III sold 1,150 shares of the stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $51.51, for a total value of $59,236.50. Following the sale, the executive vice president now owns 41,952 shares of the company’s stock, valued at $2,160,947.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Daniel Perry sold 4,096 shares of the stock in a transaction on Wednesday, June 22nd. The shares were sold at an average price of $49.05, for a total transaction of $200,908.80. Following the completion of the sale, the executive vice president now directly owns 45,917 shares in the company, valued at approximately $2,252,228.85. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in ACC. Citizens Financial Group Inc RI increased its stake in shares of American Campus Communities by 1,255.8% in the second quarter. Citizens Financial Group Inc RI now owns 1,993 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 1,846 shares in the last quarter. North Star Investment Management Corp. purchased a new stake in shares of American Campus Communities during the second quarter valued at $106,000. Invictus RG purchased a new stake in shares of American Campus Communities during the second quarter valued at $107,000. Friess Associates LLC purchased a new stake in shares of American Campus Communities during the first quarter valued at $151,000. Finally, BTR Capital Management Inc. purchased a new stake in shares of American Campus Communities during the second quarter valued at $201,000.
American Campus Communities Company Profile
American Campus Communities, Inc is a self-managed and self-administered equity real estate investment trust. 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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