American Campus Communities (NYSE:ACC) Coverage Initiated by Analysts at Goldman Sachs Group

Research analysts at Goldman Sachs Group initiated coverage on shares of American Campus Communities (NYSE:ACC) in a research note issued on Friday, The Fly reports. The brokerage set a “neutral” rating and a $53.00 price target on the real estate investment trust’s stock. Goldman Sachs Group’s price target suggests a potential upside of 12.50% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Zacks Investment Research cut American Campus Communities from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. ValuEngine cut American Campus Communities from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird raised their target price on American Campus Communities from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. TheStreet cut American Campus Communities from a “b-” rating to a “c” rating in a research report on Monday, July 22nd. Finally, Argus raised American Campus Communities from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $51.00.

Shares of American Campus Communities stock traded down $0.11 during midday trading on Friday, hitting $47.11. The company had a trading volume of 705,542 shares, compared to its average volume of 706,061. The stock has a market cap of $6.68 billion, a PE ratio of 20.39 and a beta of 0.36. American Campus Communities has a 1-year low of $39.37 and a 1-year high of $50.94. The business’s 50 day simple moving average is $48.73 and its two-hundred day simple moving average is $47.42. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.31 and a quick ratio of 1.46.

American Campus Communities (NYSE:ACC) last issued its earnings results on Monday, October 21st. The real estate investment trust reported $0.14 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.32). The firm had revenue of $211.08 million during the quarter, compared to the consensus estimate of $213.30 million. American Campus Communities had a return on equity of 2.73% and a net margin of 11.55%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the business earned $0.44 earnings per share. On average, sell-side analysts expect that American Campus Communities will post 2.43 EPS for the current fiscal year.

In other American Campus Communities news, EVP Cardenas Jorge De sold 9,788 shares of American Campus Communities stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $50.06, for a total transaction of $489,987.28. Following the completion of the transaction, the executive vice president now directly owns 31,978 shares of the company’s stock, valued at $1,600,818.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Oliver Luck sold 12,216 shares of American Campus Communities stock in a transaction on Friday, September 27th. The shares were sold at an average price of $48.05, for a total value of $586,978.80. Following the transaction, the director now directly owns 4,647 shares of the company’s stock, valued at $223,288.35. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Envestnet Asset Management Inc. lifted its holdings in shares of American Campus Communities by 2.6% during the second quarter. Envestnet Asset Management Inc. now owns 119,934 shares of the real estate investment trust’s stock valued at $5,536,000 after acquiring an additional 3,059 shares during the period. Bank of America Corp DE lifted its holdings in shares of American Campus Communities by 30.5% during the second quarter. Bank of America Corp DE now owns 1,062,826 shares of the real estate investment trust’s stock valued at $49,062,000 after acquiring an additional 248,673 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of American Campus Communities by 9.7% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 27,445 shares of the real estate investment trust’s stock valued at $1,267,000 after acquiring an additional 2,422 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of American Campus Communities by 17.6% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 18,000 shares of the real estate investment trust’s stock valued at $831,000 after acquiring an additional 2,700 shares during the period. Finally, South Dakota Investment Council lifted its holdings in shares of American Campus Communities by 20.9% during the second quarter. South Dakota Investment Council now owns 69,900 shares of the real estate investment trust’s stock valued at $3,227,000 after acquiring an additional 12,100 shares during the period. 95.57% of the stock is owned by institutional investors.

American Campus Communities Company Profile

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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