American Campus Communities Inc (ACC) Issues Earnings Results, Beats Estimates By $0.33 EPS
American Campus Communities Inc (NYSE:ACC) issued its earnings results on Monday. The real estate investment trust reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.33, Briefing.com reports. American Campus Communities had a return on equity of 1.90% and a net margin of 8.59%. The firm had revenue of $196.90 million for the quarter, compared to analysts’ expectations of $177.65 million. During the same quarter last year, the firm earned $0.45 earnings per share. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. American Campus Communities updated its FY17 guidance to $2.39-2.43 EPS.
Shares of American Campus Communities (NYSE:ACC) traded down 0.37% on Monday, hitting $43.46. The company’s stock had a trading volume of 632,959 shares. The stock has a market capitalization of $5.93 billion, a P/E ratio of 89.79 and a beta of 0.26. The stock’s 50 day moving average price is $46.08 and its 200 day moving average price is $47.13. American Campus Communities has a 52 week low of $43.34 and a 52 week high of $52.53.
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ACC has been the topic of a number of research analyst reports. JMP Securities upgraded American Campus Communities from a “market perform” rating to an “outperform” rating and set a $55.00 target price on the stock in a report on Monday, July 10th. Zacks Investment Research upgraded American Campus Communities from a “sell” rating to a “hold” rating in a report on Monday, October 16th. Cantor Fitzgerald reiterated an “overweight” rating on shares of American Campus Communities in a report on Thursday, August 10th. TheStreet cut American Campus Communities from a “b” rating to a “c+” rating in a report on Monday, July 24th. Finally, Sandler O’Neill cut American Campus Communities from a “buy” rating to a “hold” rating and reduced their target price for the company from $55.00 to $50.00 in a report on Wednesday, July 26th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. American Campus Communities currently has a consensus rating of “Buy” and a consensus target price of $53.67.
American Campus Communities Company Profile
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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