American Campus Communities Inc (ACC) Declares $0.44 Quarterly Dividend
American Campus Communities Inc (NYSE:ACC) announced a quarterly dividend on Thursday, November 2nd, Wall Street Journal reports. Shareholders of record on Monday, November 13th will be paid a dividend of 0.44 per share by the real estate investment trust on Monday, November 27th. This represents a $1.76 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend is Friday, November 10th.
American Campus Communities has raised its dividend payment by an average of 5.4% per year over the last three years and has raised its dividend every year for the last 4 years. American Campus Communities has a dividend payout ratio of 76.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect American Campus Communities to earn $2.46 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 71.5%.
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A number of research analysts have recently commented on the company. JMP Securities upgraded American Campus Communities from a “market perform” rating to an “outperform” rating and set a $55.00 price objective 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. FBR & Co reiterated a “buy” rating and issued a $56.00 price objective on shares of American Campus Communities in a report on Tuesday, October 24th. Cantor Fitzgerald reiterated an “overweight” rating on shares of American Campus Communities in a report on Thursday, August 10th. Finally, Bank of America Corporation downgraded American Campus Communities from a “buy” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $51.75.
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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