American Campus Communities Inc (ACC) Short Interest Update
American Campus Communities Inc (NYSE:ACC) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 1,429,507 shares, a drop of 33.8% from the October 31st total of 2,160,736 shares. Based on an average daily trading volume, of 745,550 shares, the short-interest ratio is currently 1.9 days. Approximately 1.1% of the company’s shares are short sold.
Several equities research analysts have issued reports on the company. Citigroup restated a “neutral” rating on shares of American Campus Communities in a report on Friday, October 27th. FBR & Co restated a “buy” rating on shares of American Campus Communities in a research report on Monday, September 25th. KeyCorp restated a “buy” rating and issued a $56.00 price target on shares of American Campus Communities in a research report on Friday, August 25th. Argus raised American Campus Communities from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. Finally, Robert W. Baird decreased their price objective on American Campus Communities from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $52.22.
Shares of American Campus Communities (ACC) opened at $42.38 on Friday. The stock has a market capitalization of $5,746.28, a price-to-earnings ratio of 18.89, a PEG ratio of 13.94 and a beta of 0.27. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79. American Campus Communities has a 52-week low of $41.06 and a 52-week high of $51.70.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 27th. Investors of record on Monday, November 13th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Friday, November 10th. American Campus Communities’s payout ratio is 429.28%.
Large investors have recently bought and sold shares of the stock. Cohen & Steers Inc. boosted its position in American Campus Communities by 20.2% in the 3rd quarter. Cohen & Steers Inc. now owns 16,080,372 shares of the real estate investment trust’s stock valued at $709,948,000 after buying an additional 2,704,851 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of American Campus Communities by 47.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,798,215 shares of the real estate investment trust’s stock valued at $226,955,000 after purchasing an additional 1,541,548 shares during the period. Brookfield Asset Management Inc. increased its position in shares of American Campus Communities by 51.0% in the second quarter. Brookfield Asset Management Inc. now owns 3,441,220 shares of the real estate investment trust’s stock valued at $162,770,000 after acquiring an additional 1,162,350 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in shares of American Campus Communities in the third quarter valued at about $48,216,000. Finally, BlackRock Inc. increased its position in shares of American Campus Communities by 2.7% in the second quarter. BlackRock Inc. now owns 15,807,560 shares of the real estate investment trust’s stock valued at $747,699,000 after acquiring an additional 420,488 shares during the last quarter.
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American Campus Communities Company Profile
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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