Advisors Asset Management Inc. Acquires New Stake in American Campus Communities, Inc. (NYSE:ACC)

Advisors Asset Management Inc. acquired a new stake in American Campus Communities, Inc. (NYSE:ACC) during the 1st quarter, Holdings Channel.com reports. The firm acquired 785 shares of the real estate investment trust’s stock, valued at approximately $34,000.

Several other hedge funds have also recently bought and sold shares of ACC. DekaBank Deutsche Girozentrale grew its stake in American Campus Communities by 1,125.1% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 41,701 shares of the real estate investment trust’s stock worth $1,744,000 after purchasing an additional 38,297 shares in the last quarter. Perpetual Investment Management Limited acquired a new position in American Campus Communities during the 4th quarter worth $4,889,000. BNP Paribas Arbitrage SA grew its stake in American Campus Communities by 14.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 72,449 shares of the real estate investment trust’s stock worth $3,128,000 after purchasing an additional 9,222 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in American Campus Communities by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the real estate investment trust’s stock worth $62,544,000 after purchasing an additional 21,302 shares in the last quarter. Finally, Probity Advisors Inc. acquired a new position in American Campus Communities during the 1st quarter worth $578,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Several research analysts have recently issued reports on the company. Zacks Investment Research raised American Campus Communities from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 27th. Piper Sandler raised American Campus Communities from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $48.00 to $55.00 in a research report on Friday, May 28th. Evercore ISI raised American Campus Communities from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $48.00 to $50.00 in a research report on Monday, May 10th. Deutsche Bank Aktiengesellschaft upped their target price on American Campus Communities from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, May 26th. Finally, JPMorgan Chase & Co. raised American Campus Communities from an “underweight” rating to a “neutral” rating and upped their target price for the company from $44.00 to $46.00 in a research report on Thursday, May 20th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $46.13.

In other news, President James Clarence Hopke, Jr. sold 15,243 shares of the stock in a transaction that occurred on Thursday, April 22nd. The stock was sold at an average price of $45.50, for a total transaction of $693,556.50. Following the completion of the transaction, the president now directly owns 118,149 shares of the company’s stock, valued at approximately $5,375,779.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Jennifer Beese sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 2nd. The stock was sold at an average price of $48.58, for a total value of $485,800.00. Following the transaction, the chief operating officer now directly owns 105,448 shares of the company’s stock, valued at $5,122,663.84. The disclosure for this sale can be found here. 0.95% of the stock is owned by corporate insiders.

ACC opened at $48.70 on Friday. The firm’s 50 day moving average is $45.81. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.18. The stock has a market cap of $6.71 billion, a P/E ratio of 1,217.50, a PEG ratio of 0.76 and a beta of 0.94. American Campus Communities, Inc. has a 52 week low of $31.07 and a 52 week high of $49.21.

American Campus Communities (NYSE:ACC) last posted its quarterly earnings data on Sunday, April 18th. The real estate investment trust reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.03). The company had revenue of $232.70 million for the quarter, compared to analysts’ expectations of $217.18 million. American Campus Communities had a net margin of 0.89% and a return on equity of 0.16%. The firm’s revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.70 earnings per share. Analysts predict that American Campus Communities, Inc. will post 1.92 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 21st. Shareholders of record on Monday, May 10th were paid a dividend of $0.47 per share. The ex-dividend date was Friday, May 7th. This is an increase from American Campus Communities’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a yield of 3.86%. American Campus Communities’s dividend payout ratio is currently 94.95%.

American Campus Communities 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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Institutional Ownership by Quarter for American Campus Communities (NYSE:ACC)

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