PNC Financial Services Group Inc. raised its position in American Campus Communities Inc. (NYSE:ACC) by 5.9% during the second quarter, Holdings Channel reports. The institutional investor owned 14,473 shares of the real estate investment trust’s stock after buying an additional 812 shares during the period. PNC Financial Services Group Inc.’s holdings in American Campus Communities were worth $766,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Princeton Alpha Management LP acquired a new stake in American Campus Communities during the second quarter worth approximately $495,000. Commonwealth Equity Services Inc purchased a new position in shares of American Campus Communities during the second quarter valued at about $244,000. State Board of Administration of Florida Retirement System raised its position in shares of American Campus Communities by 32.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 211,547 shares of the real estate investment trust’s stock valued at $11,184,000 after buying an additional 51,703 shares during the period. Synovus Financial Corp raised its position in shares of American Campus Communities by 0.7% in the second quarter. Synovus Financial Corp now owns 33,724 shares of the real estate investment trust’s stock valued at $1,782,000 after buying an additional 238 shares during the period. Finally, Calvert Investment Management Inc. purchased a new position in shares of American Campus Communities during the second quarter valued at about $7,127,000.

Shares of American Campus Communities Inc. (NYSE:ACC) traded up 0.76% during midday trading on Tuesday, reaching $49.23. 729,218 shares of the company’s stock traded hands. American Campus Communities Inc. has a 12 month low of $35.00 and a 12 month high of $54.56. The stock has a market cap of $6.42 billion, a P/E ratio of 63.44 and a beta of 0.33. The stock has a 50 day moving average of $50.83 and a 200-day moving average of $48.51.

American Campus Communities (NYSE:ACC) last posted its quarterly earnings data on Monday, July 25th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.02. American Campus Communities had a net margin of 12.26% and a return on equity of 3.02%. The company earned $186 million during the quarter, compared to analysts’ expectations of $174.85 million. During the same period in the prior year, the company posted $0.57 earnings per share. American Campus Communities’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities research analysts forecast that American Campus Communities Inc. will post $2.25 EPS for the current fiscal year.

The company also recently disclosed a dividend, which was paid on Friday, August 26th. Stockholders of record on Monday, August 15th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, August 11th. American Campus Communities’s dividend payout ratio (DPR) is presently 218.18%.

Several brokerages have recently issued reports on ACC. Deutsche Bank AG boosted their price target on shares of American Campus Communities from $47.00 to $48.00 and gave the company a “hold” rating in a report on Wednesday, August 10th. Hilliard Lyons lowered shares of American Campus Communities from a “neutral” rating to an “underperform” rating in a report on Friday, July 1st. JPMorgan Chase & Co. boosted their price target on shares of American Campus Communities from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. Citigroup Inc. boosted their price target on shares of American Campus Communities from $45.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, July 7th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $56.00 price target on shares of American Campus Communities in a report on Monday, July 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $48.36.

In other news, EVP James E. Wilhelm III sold 1,150 shares of the stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $51.51, for a total transaction of $59,236.50. Following the completion of the sale, the executive vice president now directly owns 41,952 shares in the company, valued at $2,160,947.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP James E. Wilhelm III sold 6,349 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $52.51, for a total transaction of $333,385.99. Following the sale, the executive vice president now owns 41,603 shares of the company’s stock, valued at $2,184,573.53. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

American Campus Communities Company Profile

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.

5 Day Chart for NYSE:ACC

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