Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in shares of American Campus Communities, Inc. (NYSE:ACC) by 9.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,400,156 shares of the real estate investment trust’s stock after selling 151,408 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 1.02% of American Campus Communities worth $48,949,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. State Street Corp lifted its holdings in American Campus Communities by 1.7% during the first quarter. State Street Corp now owns 6,711,991 shares of the real estate investment trust’s stock worth $186,258,000 after acquiring an additional 114,673 shares during the period. Resolution Capital Ltd bought a new stake in American Campus Communities during the second quarter worth $178,753,000. Alliancebernstein L.P. lifted its holdings in American Campus Communities by 54.2% during the first quarter. Alliancebernstein L.P. now owns 4,547,079 shares of the real estate investment trust’s stock worth $126,181,000 after acquiring an additional 1,597,828 shares during the period. Wells Fargo & Company MN lifted its holdings in American Campus Communities by 5.7% during the first quarter. Wells Fargo & Company MN now owns 4,448,513 shares of the real estate investment trust’s stock worth $123,447,000 after acquiring an additional 238,451 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in American Campus Communities by 0.5% during the first quarter. Geode Capital Management LLC now owns 2,220,315 shares of the real estate investment trust’s stock worth $61,613,000 after acquiring an additional 10,412 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.
Shares of ACC opened at $35.64 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.97 and a quick ratio of 4.17. American Campus Communities, Inc. has a 1 year low of $20.13 and a 1 year high of $50.94. The firm has a market cap of $4.90 billion, a PE ratio of 44.55, a PEG ratio of 0.52 and a beta of 1.05. The stock’s fifty day moving average price is $34.91 and its two-hundred day moving average price is $36.74.
American Campus Communities (NYSE:ACC) last released its quarterly earnings data on Monday, July 20th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.47). American Campus Communities had a net margin of 12.24% and a return on equity of 3.66%. The company had revenue of $177.19 million for the quarter, compared to the consensus estimate of $191.57 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. Sell-side analysts anticipate that American Campus Communities, Inc. will post 2.04 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 10th will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, August 7th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.27%. American Campus Communities’s payout ratio is 77.69%.
A number of brokerages recently commented on ACC. KeyCorp dropped their price target on American Campus Communities from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, July 27th. Citigroup lowered their target price on American Campus Communities from $51.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Deutsche Bank lowered their target price on American Campus Communities from $52.00 to $37.00 and set a “hold” rating on the stock in a research note on Thursday, April 16th. Finally, Zacks Investment Research lowered American Campus Communities from a “buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $41.33.
American Campus Communities Company Profile
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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