Mackay Shields LLC boosted its stake in American Campus Communities, Inc. (NYSE:ACC) by 208.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,096 shares of the real estate investment trust’s stock after buying an additional 108,805 shares during the quarter. Mackay Shields LLC owned approximately 0.12% of American Campus Communities worth $7,746,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. 6 Meridian acquired a new position in American Campus Communities in the third quarter worth $560,000. Texas Permanent School Fund boosted its stake in American Campus Communities by 0.4% in the third quarter. Texas Permanent School Fund now owns 93,521 shares of the real estate investment trust’s stock worth $4,496,000 after purchasing an additional 366 shares in the last quarter. California Public Employees Retirement System boosted its stake in American Campus Communities by 27.4% in the third quarter. California Public Employees Retirement System now owns 295,477 shares of the real estate investment trust’s stock worth $14,207,000 after purchasing an additional 63,628 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in American Campus Communities by 20.4% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 188,695 shares of the real estate investment trust’s stock worth $9,072,000 after purchasing an additional 32,004 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in American Campus Communities by 24.8% in the third quarter. Commonwealth Equity Services LLC now owns 6,050 shares of the real estate investment trust’s stock worth $290,000 after purchasing an additional 1,204 shares in the last quarter. 95.57% of the stock is currently owned by institutional investors and hedge funds.
In other American Campus Communities news, EVP Cardenas Jorge De sold 9,788 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $50.06, for a total value of $489,987.28. Following the completion of the sale, the executive vice president now directly owns 31,978 shares in the company, valued at $1,600,818.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Oliver Luck sold 12,216 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $48.05, for a total value of $586,978.80. Following the completion of the sale, the director now owns 4,647 shares of the company’s stock, valued at $223,288.35. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.
A number of research firms have recently weighed in on ACC. ValuEngine downgraded American Campus Communities from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. TheStreet downgraded American Campus Communities from a “b-” rating to a “c” rating in a research report on Monday, July 22nd. Argus upgraded 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. Robert W. Baird boosted 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. Finally, Goldman Sachs Group began coverage on American Campus Communities in a research report on Friday. They set a “neutral” rating and a $53.00 target price for the company. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $51.00.
Shares of ACC stock traded up $0.15 on Friday, reaching $47.37. 2,336 shares of the stock were exchanged, compared to its average volume of 568,044. The stock has a market cap of $6.68 billion, a PE ratio of 20.51 and a beta of 0.36. American Campus Communities, Inc. has a one year low of $39.37 and a one year high of $50.94. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.31 and a quick ratio of 1.46. The stock has a 50 day moving average price of $48.73 and a 200 day moving average price of $47.42.
American Campus Communities (NYSE:ACC) last released its earnings results on Monday, October 21st. The real estate investment trust reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.32). The firm had revenue of $211.08 million for 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 company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 EPS. On average, research analysts expect that American Campus Communities, Inc. will post 2.43 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 11th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Thursday, November 7th. This is an increase from American Campus Communities’s previous quarterly dividend of $0.42. American Campus Communities’s dividend payout ratio is currently 81.39%.
American Campus Communities 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.
Further Reading: What is the formula for the cash asset ratio?
Want to see what other hedge funds are holding ACC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Campus Communities, Inc. (NYSE:ACC).
Receive News & Ratings for American Campus Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Campus Communities and related companies with MarketBeat.com's FREE daily email newsletter.