State of Tennessee Treasury Department Buys 9,432 Shares of American Campus Communities, Inc. (NYSE:ACC)

State of Tennessee Treasury Department raised its stake in American Campus Communities, Inc. (NYSE:ACC) by 10.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 100,862 shares of the real estate investment trust’s stock after acquiring an additional 9,432 shares during the period. State of Tennessee Treasury Department owned about 0.07% of American Campus Communities worth $2,799,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Baird Financial Group Inc. grew its position in American Campus Communities by 4.8% in the first quarter. Baird Financial Group Inc. now owns 18,195 shares of the real estate investment trust’s stock valued at $505,000 after acquiring an additional 826 shares during the period. Jane Street Group LLC bought a new stake in American Campus Communities in the first quarter valued at $700,000. Geode Capital Management LLC grew its position in American Campus Communities by 0.5% in the first quarter. Geode Capital Management LLC now owns 2,220,315 shares of the real estate investment trust’s stock valued at $61,613,000 after acquiring an additional 10,412 shares during the period. Nuveen Asset Management LLC grew its position in American Campus Communities by 21.7% in the first quarter. Nuveen Asset Management LLC now owns 1,241,650 shares of the real estate investment trust’s stock valued at $34,455,000 after acquiring an additional 221,783 shares during the period. Finally, Amalgamated Bank grew its position in American Campus Communities by 12.0% in the fourth quarter. Amalgamated Bank now owns 31,593 shares of the real estate investment trust’s stock valued at $1,486,000 after acquiring an additional 3,384 shares during the period. Hedge funds and other institutional investors own 93.33% of the company’s stock.

A number of equities analysts have commented on ACC shares. Goldman Sachs Group raised American Campus Communities from a “neutral” rating to a “buy” rating in a research note on Thursday, April 2nd. Citigroup reduced their price objective on American Campus Communities from $51.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. KeyCorp reduced their price objective on American Campus Communities from $51.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. Deutsche Bank reduced their price objective on American Campus Communities from $52.00 to $37.00 and set a “hold” rating on the stock in a research note on Thursday, April 16th. Finally, Zacks Investment Research raised American Campus Communities from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Wednesday, June 24th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. American Campus Communities has a consensus rating of “Buy” and a consensus price target of $44.75.

Shares of ACC opened at $34.46 on Tuesday. The company has a quick ratio of 4.17, a current ratio of 4.17 and a debt-to-equity ratio of 1.06. American Campus Communities, Inc. has a 12-month low of $20.13 and a 12-month high of $50.94. The firm has a market capitalization of $4.77 billion, a PE ratio of 35.53 and a beta of 1.05. The stock’s fifty day simple moving average is $34.03 and its 200-day simple moving average is $38.65.

American Campus Communities (NYSE:ACC) last issued its quarterly earnings results on Monday, April 20th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.10). The firm had revenue of $249.40 million for the quarter, compared to analyst estimates of $232.12 million. American Campus Communities had a net margin of 14.33% and a return on equity of 4.32%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $0.71 EPS. Analysts anticipate that American Campus Communities, Inc. will post 2.21 EPS for the current year.

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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Institutional Ownership by Quarter for American Campus Communities (NYSE:ACC)

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