American Campus Communities, Inc. (NYSE:ACC) Sees Large Decline in Short Interest

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American Campus Communities, Inc. (NYSE:ACC) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 1,790,700 shares, a decline of 9.9% from the May 30th total of 1,987,100 shares. Currently, 1.3% of the shares of the company are short sold. Based on an average daily trading volume, of 679,100 shares, the short-interest ratio is presently 2.6 days.

ACC has been the subject of several research analyst reports. Capital One Financial raised shares of American Campus Communities from an “equal weight” rating to an “overweight” rating in a report on Monday, July 8th. JMP Securities reaffirmed an “outperform” rating and set a $225.00 target price (up previously from $220.00) on shares of Workday in a report on Wednesday, May 29th. Robert W. Baird reduced their target price on shares of Bed Bath & Beyond from $18.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday. KeyCorp set a $37.00 target price on shares of SeaWorld Entertainment and gave the stock a “buy” rating in a report on Tuesday, March 19th. Finally, ValuEngine raised shares of Vistra Energy from a “hold” rating to a “buy” rating in a report on Wednesday, July 3rd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. American Campus Communities currently has an average rating of “Buy” and a consensus target price of $48.83.

Shares of American Campus Communities stock opened at $48.83 on Friday. American Campus Communities has a twelve month low of $38.40 and a twelve month high of $49.33. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.89. The business has a 50-day simple moving average of $47.03. The firm has a market cap of $6.70 billion, a PE ratio of 20.60 and a beta of 0.39.

American Campus Communities (NYSE:ACC) last issued its quarterly earnings data on Monday, April 22nd. The real estate investment trust reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. American Campus Communities had a net margin of 13.39% and a return on equity of 3.21%. The business had revenue of $242.10 million during the quarter, compared to analysts’ expectations of $226.72 million. During the same quarter in the previous year, the company earned $0.65 EPS. The business’s revenue was up 9.8% on a year-over-year basis. On average, equities analysts forecast that American Campus Communities will post 2.42 EPS for the current year.

A number of institutional investors have recently modified their holdings of ACC. AJO LP raised its stake in American Campus Communities by 2,547.8% in the 1st quarter. AJO LP now owns 2,349,473 shares of the real estate investment trust’s stock worth $111,788,000 after purchasing an additional 2,260,741 shares in the last quarter. Norges Bank acquired a new stake in American Campus Communities in the 4th quarter worth about $55,777,000. CIBC Private Wealth Group LLC acquired a new stake in American Campus Communities in the 1st quarter worth about $30,155,000. Millennium Management LLC raised its stake in American Campus Communities by 466.7% in the 4th quarter. Millennium Management LLC now owns 378,863 shares of the real estate investment trust’s stock worth $15,681,000 after purchasing an additional 312,008 shares in the last quarter. Finally, Foresters Investment Management Company Inc. acquired a new stake in American Campus Communities in the 4th quarter worth about $8,857,000. Institutional investors and hedge funds own 97.00% of the company’s stock.

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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