Pensionfund Sabic continued to hold its stake in American Campus Communities Inc. (NYSE:ACC) during the third quarter, Holdings Channel reports. The institutional investor owned 9,500 shares of the real estate investment trust’s stock at the end of the third quarter. Pensionfund Sabic’s holdings in American Campus Communities were worth $483,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund boosted its stake in American Campus Communities by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 44,980 shares of the real estate investment trust’s stock worth $2,288,000 after buying an additional 899 shares during the period. New England Research & Management Inc. purchased a new stake in American Campus Communities during the third quarter worth about $237,000. Macquarie Group Ltd. boosted its stake in American Campus Communities by 42.3% in the second quarter. Macquarie Group Ltd. now owns 385,929 shares of the real estate investment trust’s stock worth $20,404,000 after buying an additional 114,718 shares during the period. Mason Street Advisors LLC purchased a new stake in American Campus Communities during the second quarter worth about $3,145,000. Finally, Royal Bank of Canada boosted its stake in American Campus Communities by 4.6% in the second quarter. Royal Bank of Canada now owns 394,039 shares of the real estate investment trust’s stock worth $20,835,000 after buying an additional 17,317 shares during the period.
American Campus Communities Inc. (NYSE:ACC) traded up 1.37% during mid-day trading on Friday, hitting $46.48. 373,847 shares of the stock traded hands. The firm’s 50-day moving average price is $48.62 and its 200-day moving average price is $49.66. American Campus Communities Inc. has a 52 week low of $37.75 and a 52 week high of $54.56. The firm has a market cap of $6.14 billion, a P/E ratio of 57.81 and a beta of 0.26.
American Campus Communities (NYSE:ACC) last announced its quarterly earnings results on Monday, October 24th. The real estate investment trust reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. American Campus Communities had a net margin of 13.00% and a return on equity of 3.11%. The business had revenue of $196.40 million for the quarter, compared to analyst estimates of $183.69 million. During the same quarter in the prior year, the business earned $0.43 EPS. American Campus Communities’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts forecast that American Campus Communities Inc. will post $2.27 earnings per share for the current fiscal year.
The business also recently declared a dividend, which will be paid on Monday, November 28th. Investors of record on Monday, November 14th will be paid a $0.42 dividend. The ex-dividend date is Wednesday, November 9th. American Campus Communities’s dividend payout ratio (DPR) is currently 204.88%.
Several research firms recently weighed in on ACC. Zacks Investment Research cut shares of American Campus Communities from a “buy” rating to a “hold” rating in a research note on Thursday, November 17th. FBR & Co reiterated a “buy” rating and issued a $56.00 target price on shares of American Campus Communities in a research note on Wednesday, October 26th. Canaccord Genuity set a $59.00 target price on shares of American Campus Communities and gave the company a “buy” rating in a research note on Monday, October 24th. Robert W. Baird upgraded shares of American Campus Communities to an “outperform” rating in a research note on Wednesday, September 28th. Finally, Capital One Financial Corp. began coverage on shares of American Campus Communities in a research note on Friday, September 23rd. They issued an “equal weight” rating and a $49.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $50.00.
In other American Campus Communities news, insider William C. Bayless, Jr. sold 12,409 shares of the business’s stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $50.11, for a total value of $621,814.99. Following the completion of the sale, the insider now owns 271,873 shares of the company’s stock, valued at approximately $13,623,556.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jennifer Beese sold 856 shares of the business’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $48.45, for a total transaction of $41,473.20. Following the completion of the sale, the executive vice president now directly owns 31,475 shares of the company’s stock, valued at approximately $1,524,963.75. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.
About American Campus Communities
American Campus Communities, Inc is a self-managed and self-administered equity real estate investment trust. 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.