American Campus Communities Inc. (NYSE:ACC) Given Average Recommendation of “Hold” by Analysts
Shares of American Campus Communities Inc. (NYSE:ACC) have been given a consensus rating of “Hold” by the thirteen ratings firms that are currently covering the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $50.63.
Several brokerages have recently issued reports on ACC. Canaccord Genuity reiterated a “buy” rating and set a $56.00 price target on shares of American Campus Communities in a report on Monday, July 25th. JMP Securities lowered American Campus Communities from an “outperform” rating to a “market perform” rating in a report on Monday, July 18th. Deutsche Bank AG restated a “hold” rating and issued a $47.00 target price (up from $45.00) on shares of American Campus Communities in a report on Monday, July 18th. Capital One Financial Corp. initiated coverage on American Campus Communities in a report on Friday, September 23rd. They issued an “equal weight” rating and a $49.00 target price for the company. Finally, Hilliard Lyons lowered American Campus Communities from a “neutral” rating to an “underperform” rating in a report on Friday, July 1st.
American Campus Communities (NYSE:ACC) traded up 1.33% during trading on Thursday, reaching $48.04. 776,630 shares of the company’s stock were exchanged. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of 61.91 and a beta of 0.29. The stock’s 50-day moving average price is $50.01 and its 200-day moving average price is $48.95. American Campus Communities has a 52-week low of $37.25 and a 52-week high of $54.56.
American Campus Communities (NYSE:ACC) last announced its quarterly earnings results on Monday, July 25th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.02. The business earned $186 million during the quarter, compared to analyst estimates of $174.85 million. American Campus Communities had a return on equity of 3.02% and a net margin of 12.26%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 EPS. Equities analysts expect that American Campus Communities will post $2.25 earnings per share for the current year.
In other news, EVP James E. Wilhelm III sold 6,349 shares of the business’s stock in a transaction that occurred 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 directly owns 41,603 shares in the company, valued at $2,184,573.53. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.65% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in ACC. Cohen & Steers Inc. boosted its stake in American Campus Communities by 175.6% in the second quarter. Cohen & Steers Inc. now owns 8,603,093 shares of the real estate investment trust’s stock worth $454,846,000 after buying an additional 5,481,735 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in American Campus Communities by 87,102.4% in the second quarter. Daiwa Securities Group Inc. now owns 4,070,608 shares of the real estate investment trust’s stock worth $215,213,000 after buying an additional 4,065,940 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in American Campus Communities by 66.9% in the first quarter. JPMorgan Chase & Co. now owns 6,655,242 shares of the real estate investment trust’s stock worth $313,397,000 after buying an additional 2,667,625 shares in the last quarter. Prudential Financial Inc. boosted its stake in American Campus Communities by 362.6% in the second quarter. Prudential Financial Inc. now owns 2,117,037 shares of the real estate investment trust’s stock worth $111,928,000 after buying an additional 1,659,381 shares in the last quarter. Finally, Norges Bank purchased a new stake in American Campus Communities during the fourth quarter worth about $38,998,000.
About American Campus Communities
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.
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