Mondrian Investment Partners LTD increased its holdings in shares of American Campus Communities, Inc. (NYSE:ACC) by 11.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 96,395 shares of the real estate investment trust’s stock after purchasing an additional 9,869 shares during the period. Mondrian Investment Partners LTD owned approximately 0.07% of American Campus Communities worth $4,635,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Phocas Financial Corp. acquired a new stake in American Campus Communities during the second quarter worth approximately $32,000. Coastal Investment Advisors Inc. acquired a new stake in American Campus Communities in the third quarter valued at approximately $44,000. FMR LLC grew its stake in American Campus Communities by 1,518.3% in the first quarter. FMR LLC now owns 971 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 911 shares during the period. Quadrant Capital Group LLC grew its stake in American Campus Communities by 40.5% in the third quarter. Quadrant Capital Group LLC now owns 1,010 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 291 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in American Campus Communities in the second quarter valued at approximately $60,000. 95.57% of the stock is owned by institutional investors and hedge funds.
In other American Campus Communities news, Director Oliver Luck sold 12,216 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $48.05, for a total value of $586,978.80. Following the completion of the transaction, the director now owns 4,647 shares in the company, valued at $223,288.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Cardenas Jorge De sold 9,788 shares of the company’s stock in a transaction dated 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 owns 31,978 shares of the company’s stock, valued at approximately $1,600,818.68. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.
Shares of NYSE ACC traded down $0.11 during mid-day 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 company has a market capitalization of $6.68 billion, a price-to-earnings ratio of 20.39 and a beta of 0.36. American Campus Communities, Inc. has a 1 year low of $39.37 and a 1 year high of $50.94. The company has a current ratio of 1.31, a quick ratio of 1.46 and a debt-to-equity ratio of 1.00. The stock’s 50-day moving average price is $48.73 and its 200-day moving average price is $47.42.
American Campus Communities (NYSE:ACC) last announced its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.32). The company had revenue of $211.08 million during the quarter, compared to analysts’ expectations of $213.30 million. American Campus Communities had a net margin of 11.55% and a return on equity of 2.73%. American Campus Communities’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. As a group, equities research analysts forecast that American Campus Communities, Inc. will post 2.43 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 11th will be given a $0.47 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.99%. This is an increase from American Campus Communities’s previous quarterly dividend of $0.42. American Campus Communities’s dividend payout ratio is 81.39%.
A number of equities research analysts have commented on ACC shares. TheStreet cut American Campus Communities from a “b-” rating to a “c” rating in a research note on Monday, July 22nd. ValuEngine lowered American Campus Communities from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Goldman Sachs Group initiated coverage on American Campus Communities in a report on Friday. They set a “neutral” rating and a $53.00 price target on the stock. Argus upgraded American Campus Communities from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research note on Wednesday, July 31st. Finally, Robert W. Baird boosted their target price on American Campus Communities from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, July 11th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $51.00.
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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