Bank of Montreal Can raised its position in shares of American Campus Communities, Inc. (NYSE:ACC) by 757.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,016 shares of the real estate investment trust’s stock after buying an additional 96,304 shares during the quarter. Bank of Montreal Can owned 0.08% of American Campus Communities worth $5,187,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Nordea Investment Management AB acquired a new position in American Campus Communities during the fourth quarter valued at approximately $4,637,000. Garner Asset Management Corp bought a new stake in American Campus Communities during the first quarter worth $206,000. Vanguard Group Inc lifted its holdings in American Campus Communities by 0.8% during the third quarter. Vanguard Group Inc now owns 19,782,490 shares of the real estate investment trust’s stock worth $814,247,000 after acquiring an additional 158,479 shares during the period. Prudential Financial Inc. lifted its holdings in American Campus Communities by 393.3% during the fourth quarter. Prudential Financial Inc. now owns 1,443,158 shares of the real estate investment trust’s stock worth $59,733,000 after acquiring an additional 1,150,606 shares during the period. Finally, Crestline Management LP lifted its holdings in American Campus Communities by 109.6% during the fourth quarter. Crestline Management LP now owns 62,744 shares of the real estate investment trust’s stock worth $2,597,000 after acquiring an additional 32,804 shares during the period. 98.11% of the stock is owned by institutional investors.
ACC has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded American Campus Communities from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. TheStreet upgraded American Campus Communities from a “c” rating to a “b-” rating in a report on Wednesday, February 20th. Finally, KeyCorp lifted their price target on American Campus Communities from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $46.90.
Shares of ACC opened at $45.91 on Friday. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 19.87 and a beta of 0.44. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.61 and a current ratio of 1.61. American Campus Communities, Inc. has a 1 year low of $36.64 and a 1 year high of $48.49.
American Campus Communities (NYSE:ACC) last issued its earnings results on Monday, April 22nd. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.04. The firm had revenue of $242.10 million for the quarter, compared to analyst estimates of $226.72 million. American Campus Communities had a return on equity of 3.21% and a net margin of 13.39%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 earnings per share. Research analysts anticipate that American Campus Communities, Inc. will post 2.42 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 13th will be paid a $0.47 dividend. The ex-dividend date is Friday, May 10th. This is a positive change from American Campus Communities’s previous quarterly dividend of $0.46. This represents a $1.88 annualized dividend and a dividend yield of 4.09%. American Campus Communities’s payout ratio is presently 79.65%.
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About American Campus Communities
American Campus Communities, Inc is the largest owner, manager and developer of high-quality student housing communities in the United States. The company is a fully integrated, self-managed and self-administered equity real estate investment trust (REIT) with expertise in the design, finance, development, construction management and operational management of student housing properties.
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