American Campus Communities Inc (NYSE:ACC) Increases Dividend to $0.44 Per Share
American Campus Communities Inc (NYSE:ACC) announced a quarterly dividend on Wednesday, August 2nd, Fidelity reports. Shareholders of record on Monday, August 14th will be given a dividend of 0.44 per share by the real estate investment trust on Friday, August 25th. This represents a $1.76 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Thursday, August 10th. This is a positive change from American Campus Communities’s previous quarterly dividend of $0.42.
American Campus Communities has raised its dividend payment by an average of 5.4% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. American Campus Communities has a dividend payout ratio of 74.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect American Campus Communities to earn $2.56 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 68.8%.
Shares of American Campus Communities (ACC) opened at 47.20 on Wednesday. The firm has a 50-day moving average price of $47.66 and a 200-day moving average price of $47.97. American Campus Communities has a 12-month low of $44.65 and a 12-month high of $53.27. The firm has a market cap of $6.35 billion, a P/E ratio of 97.52 and a beta of 0.25.
American Campus Communities (NYSE:ACC) last issued its quarterly earnings data on Monday, July 24th. The real estate investment trust reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.01. The company had revenue of $169.90 million for the quarter, compared to the consensus estimate of $169.50 million. American Campus Communities had a return on equity of 1.90% and a net margin of 8.59%. American Campus Communities’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.54 earnings per share. On average, equities research analysts expect that American Campus Communities will post $0.75 earnings per share for the current fiscal year.
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A number of research analysts recently commented on ACC shares. Zacks Investment Research downgraded American Campus Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. Evercore ISI raised American Campus Communities from an “underperform” rating to an “in-line” rating and increased their price target for the stock from $48.00 to $49.00 in a research note on Monday, June 19th. FBR & Co reissued a “buy” rating on shares of American Campus Communities in a research note on Friday, May 19th. BidaskClub raised American Campus Communities from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Finally, JMP Securities raised American Campus Communities from a “market perform” rating to an “outperform” rating and set a $55.00 price target for the company in a research note on Monday, July 10th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. American Campus Communities currently has a consensus rating of “Buy” and a consensus price target of $52.13.
About American Campus Communities
American Campus Communities, Inc is a self-managed and self-administered equity real estate investment trust (REIT). 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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