State Treasurer State of Michigan boosted its stake in American Campus Communities Inc (NYSE:ACC) by 2.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 55,300 shares of the real estate investment trust’s stock after buying an additional 1,100 shares during the period. State Treasurer State of Michigan’s holdings in American Campus Communities were worth $2,616,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in ACC. Israel Discount Bank of New York acquired a new position in shares of American Campus Communities during the first quarter worth about $116,000. Stifel Financial Corp increased its position in shares of American Campus Communities by 5.6% in the first quarter. Stifel Financial Corp now owns 5,769 shares of the real estate investment trust’s stock worth $277,000 after buying an additional 308 shares during the last quarter. Sprott Inc. acquired a new position in shares of American Campus Communities during the first quarter worth about $339,000. Quantbot Technologies LP purchased a new position in American Campus Communities during the first quarter worth $382,000. Finally, First Citizens Bank & Trust Co. purchased a new position in American Campus Communities during the first quarter worth $398,000.
Shares of American Campus Communities Inc (ACC) traded down 0.34% during mid-day trading on Wednesday, reaching $47.04. The company’s stock had a trading volume of 409,441 shares. American Campus Communities Inc has a 52 week low of $44.65 and a 52 week high of $53.91. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of 97.19 and a beta of 0.25. The company’s 50-day moving average is $47.72 and its 200-day moving average is $47.99.
American Campus Communities (NYSE:ACC) last posted its earnings results on Monday, July 24th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by $0.01. American Campus Communities had a net margin of 8.59% and a return on equity of 1.90%. The firm had revenue of $169.90 million during the quarter, compared to analyst estimates of $169.50 million. During the same quarter in the previous year, the business posted $0.54 earnings per share. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. Equities analysts predict that American Campus Communities Inc will post $0.75 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 14th will be issued a $0.44 dividend. The ex-dividend date is Thursday, August 10th. This is an increase from American Campus Communities’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a yield of 3.74%. American Campus Communities’s dividend payout ratio is 359.18%.
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ACC has been the subject of several research analyst reports. TheStreet cut American Campus Communities from a “b” rating to a “c+” rating in a research report on Monday, July 24th. Sandler O’Neill cut American Campus Communities from a “buy” rating to a “hold” rating and cut their price target for the company from $55.00 to $50.00 in a report on Wednesday, July 26th. BidaskClub upgraded American Campus Communities from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Canaccord Genuity restated a “buy” rating and set a $56.00 price target on shares of American Campus Communities in a report on Monday, July 24th. Finally, Zacks Investment Research raised American Campus Communities from a “sell” rating to a “hold” rating in a research note on Friday, July 21st. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average 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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