Zacks: Analysts Anticipate American Campus Communities Inc (NYSE:ACC) Will Announce Quarterly Sales of $183.98 Million
Analysts expect that American Campus Communities Inc (NYSE:ACC) will announce sales of $183.98 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for American Campus Communities’ earnings. The lowest sales estimate is $178.97 million and the highest is $188.99 million. American Campus Communities reported sales of $196.41 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 6.3%. The firm is expected to report its next quarterly earnings results on Monday, October 23rd.
According to Zacks, analysts expect that American Campus Communities will report full year sales of $183.98 million for the current year, with estimates ranging from $742.97 million to $803.06 million. For the next fiscal year, analysts forecast that the firm will report sales of $827.07 million per share, with estimates ranging from $772.07 million to $908.19 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow American Campus Communities.
American Campus Communities (NYSE:ACC) last released its quarterly earnings results on Monday, July 24th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by $0.01. American Campus Communities had a return on equity of 1.90% and a net margin of 8.59%. The firm had revenue of $169.90 million for the quarter, compared to the consensus estimate of $169.50 million. During the same quarter in the previous year, the business posted $0.54 EPS. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year.
Several analysts have weighed in on ACC shares. Zacks Investment Research upgraded American Campus Communities from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Wednesday, June 28th. BidaskClub downgraded American Campus Communities from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of American Campus Communities in a research report on Thursday. Evercore ISI upgraded American Campus Communities from an “underperform” rating to an “in-line” rating and boosted their price objective for the company from $48.00 to $49.00 in a research report on Monday, June 19th. Finally, Hilliard Lyons upgraded American Campus Communities from an “underperform” rating to a “neutral” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $52.71.
Several institutional investors have recently made changes to their positions in the stock. Israel Discount Bank of New York acquired a new position in shares of American Campus Communities during the first quarter worth approximately $116,000. Raymond James Trust N.A. increased its position in shares of American Campus Communities by 6.6% in the second quarter. Raymond James Trust N.A. now owns 4,567 shares of the real estate investment trust’s stock worth $216,000 after buying an additional 283 shares in the last quarter. Bridgewater Wealth & Financial Management LLC increased its position in shares of American Campus Communities by 1.3% in the second quarter. Bridgewater Wealth & Financial Management LLC now owns 5,813 shares of the real estate investment trust’s stock worth $275,000 after buying an additional 75 shares in the last quarter. Stifel Financial Corp increased its position in shares of American Campus Communities by 5.6% in the first quarter. Stifel Financial Corp now owns 5,769 shares of the real estate investment trust’s stock worth $277,000 after buying an additional 308 shares in the last quarter. Finally, Ramsey Quantitative Systems acquired a new position in shares of American Campus Communities during the second quarter worth approximately $304,000. Institutional investors own 99.83% of the company’s stock.
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American Campus Communities (NYSE ACC) opened at 46.21 on Monday. The company has a market cap of $6.30 billion, a price-to-earnings ratio of 95.48 and a beta of 0.25. American Campus Communities has a 12-month low of $44.65 and a 12-month high of $52.53. The firm’s 50-day moving average is $47.46 and its 200 day moving average is $47.85.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Monday, August 14th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Thursday, August 10th. This is an increase from American Campus Communities’s previous quarterly dividend of $0.42. American Campus Communities’s dividend payout ratio is currently 359.18%.
About American Campus Communities
American Campus Communities, Inc is a self-managed and self-administered equity real estate investment trust (REIT). 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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