Alliancebernstein L.P. increased its position in shares of American Campus Communities, Inc. (NYSE:ACC) by 793.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,456,286 shares of the real estate investment trust’s stock after buying an additional 1,293,350 shares during the period. Alliancebernstein L.P. owned 1.07% of American Campus Communities worth $59,751,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in ACC. CIBC Asset Management Inc acquired a new stake in American Campus Communities in the third quarter worth $202,000. Cipher Capital LP acquired a new stake in American Campus Communities in the third quarter worth $244,000. CrestPoint Capital Management LLC acquired a new stake in American Campus Communities in the fourth quarter worth $246,000. Jane Street Group LLC acquired a new stake in American Campus Communities in the third quarter worth $347,000. Finally, Stifel Financial Corp grew its holdings in American Campus Communities by 55.4% in the third quarter. Stifel Financial Corp now owns 7,996 shares of the real estate investment trust’s stock worth $352,000 after purchasing an additional 2,850 shares during the period.
A number of equities research analysts have commented on the stock. B. Riley set a $56.00 price target on shares of American Campus Communities and gave the stock a “buy” rating in a report on Tuesday, November 14th. Zacks Investment Research upgraded shares of American Campus Communities from a “sell” rating to a “hold” rating in a report on Monday, February 26th. Sandler O’Neill restated a “buy” rating and issued a $43.00 price target on shares of American Campus Communities in a report on Monday, February 26th. Hilliard Lyons upgraded shares of American Campus Communities from a “neutral” rating to a “buy” rating and set a $41.00 price target for the company in a report on Thursday, February 22nd. Finally, KeyCorp restated an “overweight” rating and issued a $47.00 price target (down from $56.00) on shares of American Campus Communities in a report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $48.55.
American Campus Communities (NYSE:ACC) last issued its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The firm had revenue of $227.60 million during the quarter, compared to analysts’ expectations of $200.28 million. American Campus Communities had a net margin of 8.67% and a return on equity of 1.96%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $0.65 earnings per share. sell-side analysts anticipate that American Campus Communities, Inc. will post 2.4 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Friday, February 2nd were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend was Thursday, February 1st. American Campus Communities’s dividend payout ratio is currently 314.29%.
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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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