American Campus Communities Inc. (ACC) Downgraded by Zacks Investment Research to Hold
American Campus Communities Inc. (NYSE:ACC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “American Campus Communities, Inc. is a fully integrated, self-managed and self-administered equity REIT with expertise in the acquisition, design, finance, development, construction management, leasing and management of student housing properties. “
ACC has been the subject of a number of other reports. Capital One Financial Corp. started coverage on American Campus Communities in a research note on Friday, September 23rd. They set an “equal weight” rating and a $49.00 price target for the company. Canaccord Genuity reissued a “buy” rating and set a $56.00 price target (up from $49.00) on shares of American Campus Communities in a research note on Monday, July 11th. Robert W. Baird raised American Campus Communities to an “outperform” rating in a research note on Wednesday, September 28th. Deutsche Bank AG raised their price target on American Campus Communities from $47.00 to $48.00 and gave the stock a “hold” rating in a research note on Wednesday, August 10th. Finally, Citigroup Inc. raised their price target on American Campus Communities from $45.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, July 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $48.58.
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American Campus Communities (NYSE:ACC) traded down 2.41% during midday trading on Tuesday, reaching $47.07. 470,026 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $49.79 and its 200 day moving average is $49.03. The stock has a market cap of $6.14 billion, a P/E ratio of 60.66 and a beta of 0.29. American Campus Communities has a 1-year low of $37.25 and a 1-year high of $54.56.
American Campus Communities (NYSE:ACC) last issued its quarterly earnings results on Monday, July 25th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.02. American Campus Communities had a return on equity of 3.02% and a net margin of 12.26%. The firm earned $186 million during the quarter, compared to analyst estimates of $174.85 million. During the same period last year, the company earned $0.57 EPS. American Campus Communities’s quarterly revenue was up 4.6% compared to the same quarter last year. Equities analysts anticipate that American Campus Communities will post $2.25 earnings per share for the current fiscal year.
In other news, EVP James E. Wilhelm III sold 6,349 shares of the business’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $52.51, for a total value of $333,385.99. Following the completion of the transaction, the executive vice president now directly owns 41,603 shares of the company’s stock, valued at approximately $2,184,573.53. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.65% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Citizens Financial Group Inc RI increased its position 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 during the period. North Star Investment Management Corp. acquired a new position in shares of American Campus Communities during the second quarter valued at $106,000. Invictus RG acquired a new position in shares of American Campus Communities during the second quarter valued at $107,000. Friess Associates LLC acquired a new position in shares of American Campus Communities during the first quarter valued at $151,000. Finally, BTR Capital Management Inc. acquired a new position in shares of American Campus Communities during the second quarter valued at $201,000.
About American Campus Communities
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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