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

American Campus Communities (NYSE:ACCGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The firm currently has a $72.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.28% from the company’s previous close.

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. “

ACC has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of American Campus Communities from $60.00 to $58.00 and set a “hold” rating for the company in a research note on Thursday, March 24th. Argus downgraded American Campus Communities from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th. Capital One Financial downgraded American Campus Communities from an “overweight” rating to an “equal weight” rating and set a $65.47 price objective for the company. in a report on Tuesday, April 26th. StockNews.com upgraded American Campus Communities from a “sell” rating to a “hold” rating in a report on Wednesday, May 4th. Finally, Citigroup downgraded American Campus Communities from a “buy” rating to a “neutral” rating in a report on Wednesday, April 20th. Six investment 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 stock currently has an average rating of “Hold” and an average price target of $63.33.

Shares of ACC traded down $0.03 during trading hours on Tuesday, reaching $64.70. 2,808,567 shares of the company traded hands, compared to its average volume of 2,564,319. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of 161.75 and a beta of 0.83. American Campus Communities has a 12-month low of $45.75 and a 12-month high of $65.02. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 1.08. The stock’s fifty day moving average price is $60.49 and its 200 day moving average price is $56.05.

American Campus Communities (NYSE:ACCGet Rating) last issued its earnings results on Monday, April 25th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.43). The company had revenue of $273.75 million for the quarter, compared to analysts’ expectations of $255.17 million. American Campus Communities had a net margin of 6.00% and a return on equity of 1.81%. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 earnings per share. On average, research analysts forecast that American Campus Communities will post 2.47 earnings per share for the current year.

In related news, CEO William C. Bayless, Jr. sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $64.64, for a total value of $1,292,800.00. Following the sale, the chief executive officer now owns 346,565 shares in the company, valued at $22,401,961.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William C. Bayless, Jr. sold 40,000 shares of the company’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 value of $2,274,400.00. Following the completion of the sale, the chief executive officer now owns 366,565 shares in the company, valued at approximately $20,842,885.90. The disclosure for this sale can be found here. Insiders own 0.95% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ACC. BlackRock Inc. raised its stake in American Campus Communities by 3.8% in the 4th quarter. BlackRock Inc. now owns 16,179,048 shares of the real estate investment trust’s stock valued at $926,896,000 after purchasing an additional 592,054 shares during the last quarter. State Street Corp raised its stake in American Campus Communities by 13.6% in the 1st quarter. State Street Corp now owns 7,631,627 shares of the real estate investment trust’s stock valued at $427,142,000 after purchasing an additional 915,837 shares during the last quarter. JPMorgan Chase & Co. raised its stake in American Campus Communities by 2.4% in the 1st quarter. JPMorgan Chase & Co. now owns 7,078,516 shares of the real estate investment trust’s stock valued at $396,185,000 after purchasing an additional 168,672 shares during the last quarter. Norges Bank acquired a new position in American Campus Communities in the 4th quarter valued at $345,969,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in American Campus Communities in the 4th quarter valued at $231,606,000. Institutional investors and hedge funds own 97.27% of the company’s stock.

About American Campus Communities (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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