Zacks: Brokerages Anticipate American Campus Communities, Inc. (NYSE:ACC) Will Post Quarterly Sales of $254.70 Million

Wall Street analysts expect American Campus Communities, Inc. (NYSE:ACCGet Rating) to report sales of $254.70 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for American Campus Communities’ earnings. The highest sales estimate is $255.90 million and the lowest is $253.50 million. American Campus Communities posted sales of $232.72 million during the same quarter last year, which would indicate a positive year over year growth rate of 9.4%. The firm is expected to announce its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that American Campus Communities will report full year sales of $1.00 billion for the current year, with estimates ranging from $985.60 million to $1.03 billion. For the next financial year, analysts forecast that the business will report sales of $1.04 billion, with estimates ranging from $1.02 billion to $1.07 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover American Campus Communities.

American Campus Communities (NYSE:ACCGet Rating) last released its quarterly earnings results on Monday, February 21st. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The business had revenue of $272.29 million for the quarter, compared to the consensus estimate of $250.46 million. American Campus Communities had a net margin of 3.77% and a return on equity of 1.07%. The business’s revenue was up 16.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS.

A number of research firms have recently issued reports on ACC. Piper Sandler downgraded shares of American Campus Communities from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $65.00 to $65.50 in a research note on Wednesday. StockNews.com initiated coverage on shares of American Campus Communities in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of American Campus Communities from $60.00 to $58.00 and set a “hold” rating on the stock in a research note on Thursday, March 24th. Zacks Investment Research downgraded shares of American Campus Communities from a “buy” rating to a “hold” rating in a research note on Friday, March 25th. Finally, Citigroup downgraded shares of American Campus Communities from a “buy” rating to a “neutral” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $57.21.

In other American Campus Communities news, CEO William C. Bayless, Jr. sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $56.86, for a total transaction of $2,274,400.00. Following the completion of the transaction, the chief executive officer now owns 366,565 shares in the company, valued at approximately $20,842,885.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.95% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System boosted its holdings in shares of American Campus Communities by 1.7% in the 1st quarter. Louisiana State Employees Retirement System now owns 36,400 shares of the real estate investment trust’s stock valued at $2,357,000 after buying an additional 600 shares in the last quarter. Tributary Capital Management LLC boosted its holdings in shares of American Campus Communities by 10.4% in the 1st quarter. Tributary Capital Management LLC now owns 11,134 shares of the real estate investment trust’s stock valued at $623,000 after buying an additional 1,053 shares in the last quarter. HighTower Trust Services LTA boosted its holdings in shares of American Campus Communities by 65.1% in the 1st quarter. HighTower Trust Services LTA now owns 7,208 shares of the real estate investment trust’s stock valued at $403,000 after buying an additional 2,842 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of American Campus Communities in the 1st quarter valued at $233,000. Finally, Virginia Retirement Systems ET AL boosted its holdings in shares of American Campus Communities by 113.7% in the 1st quarter. Virginia Retirement Systems ET AL now owns 43,600 shares of the real estate investment trust’s stock valued at $2,440,000 after buying an additional 23,200 shares in the last quarter. Institutional investors and hedge funds own 95.70% of the company’s stock.

American Campus Communities stock opened at $64.80 on Friday. The company’s 50 day simple moving average is $55.58 and its 200-day simple moving average is $54.18. The company has a market capitalization of $9.02 billion, a price-to-earnings ratio of 270.01 and a beta of 1.01. American Campus Communities has a 1 year low of $44.68 and a 1 year high of $65.02. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.60 and a current ratio of 1.60.

The company also recently declared a quarterly dividend, which was paid on Friday, February 25th. Shareholders of record on Friday, February 4th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Thursday, February 3rd. American Campus Communities’s dividend payout ratio (DPR) is presently 783.37%.

American Campus Communities Company Profile (Get Rating)

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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