American Campus Communities (ACC) Cut to “Underweight” at J P Morgan Chase & Co

American Campus Communities (NYSE:ACC) was downgraded by investment analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a research report issued on Friday, Marketbeat.com reports. They currently have a $45.00 target price on the real estate investment trust’s stock. J P Morgan Chase & Co’s target price would suggest a potential upside of 4.75% from the company’s previous close.

Several other research firms also recently weighed in on ACC. KeyCorp restated a “buy” rating and issued a $56.00 price objective on shares of American Campus Communities in a report on Friday, August 25th. FBR & Co restated a “buy” rating on shares of American Campus Communities in a report on Monday, September 25th. Zacks Investment Research upgraded American Campus Communities from a “sell” rating to a “hold” rating in a report on Monday, October 16th. B. Riley set a $56.00 price objective on American Campus Communities and gave the company a “buy” rating in a report on Thursday, December 7th. Finally, Argus upgraded American Campus Communities from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $51.50.

American Campus Communities (NYSE ACC) traded down $0.10 during mid-day trading on Friday, hitting $42.96. The company had a trading volume of 398,500 shares, compared to its average volume of 679,570. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $5,860.00, a P/E ratio of 19.31, a P/E/G ratio of 14.25 and a beta of 0.27. American Campus Communities has a 12-month low of $41.06 and a 12-month high of $51.70.

Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Trust N.A. increased its holdings in shares of American Campus Communities by 6.6% during the second quarter. Raymond James Trust N.A. now owns 4,567 shares of the real estate investment trust’s stock valued at $216,000 after acquiring an additional 283 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in American Campus Communities in the third quarter valued at approximately $202,000. Garner Asset Management Corp purchased a new stake in American Campus Communities in the second quarter valued at approximately $247,000. Cipher Capital LP purchased a new stake in American Campus Communities in the third quarter valued at approximately $244,000. Finally, Verition Fund Management LLC purchased a new stake in American Campus Communities in the second quarter valued at approximately $282,000.

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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.