American Campus Communities Inc. (NYSE:ACC) shares dropped 3.4% during trading on Thursday . The stock traded as low as $51.03 and last traded at $51.03, with a volume of 224,033 shares traded. The stock had previously closed at $52.84.

ACC has been the subject of several research reports. Canaccord Genuity restated a “buy” rating and issued a $49.00 price objective on shares of American Campus Communities in a report on Tuesday, April 26th. Zacks Investment Research upgraded shares of American Campus Communities from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. Argus lowered shares of American Campus Communities from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. They noted that the move was a valuation call. Deutsche Bank AG reiterated a “hold” rating and issued a $45.00 price target (down from $46.00) on shares of American Campus Communities in a research note on Friday, May 13th. Finally, FBR & Co began coverage on shares of American Campus Communities in a research note on Thursday, June 23rd. They issued an “outperform” rating and a $54.00 price target for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $47.50.

The company has a market cap of $6.69 billion and a PE ratio of 66.06. The stock’s 50 day moving average price is $52.38 and its 200 day moving average price is $47.09.

American Campus Communities (NYSE:ACC) last issued its earnings results on Monday, July 25th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.02. The company had revenue of $186 million for the quarter, compared to analysts’ expectations of $174.85 million. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 earnings per share. On average, analysts forecast that American Campus Communities Inc. will post $2.24 earnings per share for the current year.

The business also recently announced a dividend, which will be paid on Friday, August 26th. Stockholders of record on Monday, August 15th will be paid a dividend of $0.42 per share. The ex-dividend date is Thursday, August 11th.

In other news, EVP Daniel Perry sold 4,096 shares of the business’s stock in a transaction on Wednesday, June 22nd. The shares were sold at an average price of $49.05, for a total transaction of $200,908.80. Following the completion of the sale, the executive vice president now directly owns 45,917 shares of the company’s stock, valued at $2,252,228.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James E. Wilhelm III sold 6,349 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $52.51, for a total transaction of $333,385.99. Following the sale, the executive vice president now directly owns 41,603 shares of the company’s stock, valued at $2,184,573.53. The disclosure for this sale can be found here.

Several hedge funds recently modified their holdings of ACC. Utah Retirement Systems raised its stake in shares of American Campus Communities by 1.2% in the fourth quarter. Utah Retirement Systems now owns 25,318 shares of the real estate investment trust’s stock worth $1,047,000 after buying an additional 300 shares in the last quarter. Stephens Inc. AR increased its stake in American Campus Communities by 9.9% in the fourth quarter. Stephens Inc. AR now owns 40,412 shares of the real estate investment trust’s stock valued at $1,671,000 after buying an additional 3,631 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in American Campus Communities by 2.1% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 66,565 shares of the real estate investment trust’s stock valued at $2,752,000 after buying an additional 1,372 shares during the last quarter. Wells Fargo & Company MN increased its stake in American Campus Communities by 113.1% in the fourth quarter. Wells Fargo & Company MN now owns 654,148 shares of the real estate investment trust’s stock valued at $27,043,000 after buying an additional 347,187 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in American Campus Communities by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,455,901 shares of the real estate investment trust’s stock valued at $60,187,000 after buying an additional 27,743 shares during the last quarter.

American Campus Communities, Inc is a self-managed and self-administered equity real estate investment trust. The Company’s segments include Wholly-Owned Properties, On-Campus Participating Properties, Development Services, and Property Management Services. It is engaged in the acquisition, design, financing, development, construction management, leasing and management of student housing properties.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.