American Campus Communities (NYSE:ACC) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of American Campus Communities (NYSE:ACC) from a hold rating to a buy rating in a report released on Tuesday morning, Zacks.com reports. They currently have $54.00 target price on the real estate investment trust’s stock.

According to Zacks, “American Campus Communities, Inc. is a real estate investment trust (REIT). Through ACC’s controlling interest in American Campus Communities Operating Partnership L.P. (ACCOP), ACC is one of the largest owners, managers and developers of high quality student housing properties in the United States in terms of beds owned and under management. ACC is a fully integrated, self-managed and self-administered equity REIT with expertise in the acquisition, design, financing, development, construction management, leasing and management of student housing properties. “

Other analysts also recently issued reports about the company. Argus raised American Campus Communities from a hold rating to a buy rating and set a $53.00 price objective for the company in a research note on Wednesday, July 31st. TheStreet downgraded American Campus Communities from a b- rating to a c rating in a research report on Monday, July 22nd. Robert W. Baird raised their price target on American Campus Communities from $50.00 to $52.00 and gave the company an outperform rating in a research report on Thursday, July 11th. ValuEngine downgraded American Campus Communities from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, Capital One Financial upgraded American Campus Communities from an equal weight rating to an overweight rating in a report on Monday, July 8th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $50.33.

NYSE ACC traded up $0.38 during midday trading on Tuesday, hitting $48.85. The company had a trading volume of 600,418 shares, compared to its average volume of 722,207. The company has a market capitalization of $6.71 billion, a PE ratio of 21.15 and a beta of 0.37. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.94. The firm has a 50-day moving average price of $47.16 and a 200-day moving average price of $47.13. American Campus Communities has a twelve month low of $38.40 and a twelve month high of $49.33.

American Campus Communities (NYSE:ACC) last issued its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. American Campus Communities had a return on equity of 2.05% and a net margin of 9.27%. The business had revenue of $203.20 million for the quarter, compared to analyst estimates of $206.82 million. During the same quarter in the previous year, the company posted $0.52 EPS. American Campus Communities’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that American Campus Communities will post 2.42 EPS for the current year.

In other news, Director Oliver Luck sold 12,216 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $48.05, for a total transaction of $586,978.80. Following the transaction, the director now directly owns 4,647 shares in the company, valued at $223,288.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.75% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Macquarie Group Ltd. raised its stake in shares of American Campus Communities by 20.9% during the second quarter. Macquarie Group Ltd. now owns 64,200 shares of the real estate investment trust’s stock valued at $2,964,000 after purchasing an additional 11,100 shares during the period. Phocas Financial Corp. acquired a new position in American Campus Communities in the second quarter worth $32,000. Harvest Fund Management Co. Ltd boosted its holdings in American Campus Communities by 25.4% in the second quarter. Harvest Fund Management Co. Ltd now owns 3,261 shares of the real estate investment trust’s stock worth $151,000 after purchasing an additional 661 shares during the period. UBS Group AG boosted its holdings in American Campus Communities by 28.8% in the second quarter. UBS Group AG now owns 195,043 shares of the real estate investment trust’s stock worth $9,003,000 after purchasing an additional 43,641 shares during the period. Finally, Uniplan Investment Counsel Inc. boosted its holdings in American Campus Communities by 1.1% in the second quarter. Uniplan Investment Counsel Inc. now owns 279,376 shares of the real estate investment trust’s stock worth $12,896,000 after purchasing an additional 3,027 shares during the period. 95.27% of the stock is owned by institutional investors.

About American Campus Communities

American Campus Communities, Inc is the largest owner, manager and developer of high-quality student housing communities in the United States. The company is a fully integrated, self-managed and self-administered equity real estate investment trust (REIT) with expertise in the design, finance, development, construction management and operational management of student housing properties.

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