American Campus Communities Inc (ACC) Cut to “Sell” at Zacks Investment Research

American Campus Communities Inc (NYSE:ACC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “American Campus Communities, Inc. is a fully integrated, self-managed and self-administered equity REIT with expertise in the acquisition, design, finance, development, construction management, leasing and management of student housing properties. “

Other analysts also recently issued reports about the stock. FBR & Co restated a “buy” rating and set a $56.00 price objective on shares of American Campus Communities in a research report on Wednesday, October 26th. Canaccord Genuity set a $59.00 price objective on shares of American Campus Communities and gave the company a “buy” rating in a research report on Monday, October 24th. Capital One Financial Corporation started coverage on shares of American Campus Communities in a research report on Friday, September 23rd. They set an “equal weight” rating and a $49.00 price objective on the stock. Finally, Robert W. Baird upgraded shares of American Campus Communities to an “outperform” rating in a report on Wednesday, September 28th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $51.63.

Analyst Recommendations for American Campus Communities (NYSE:ACC)

American Campus Communities (NYSE:ACC) traded down 0.71% during mid-day trading on Wednesday, reaching $49.21. 383,080 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $47.94 and its 200 day moving average price is $49.86. American Campus Communities has a one year low of $38.63 and a one year high of $54.56. The firm has a market cap of $6.50 billion, a price-to-earnings ratio of 61.21 and a beta of 0.22.

American Campus Communities (NYSE:ACC) last announced its quarterly earnings data on Monday, October 24th. The real estate investment trust reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.02. The firm had revenue of $196.40 million for the quarter, compared to the consensus estimate of $183.69 million. American Campus Communities had a net margin of 13.00% and a return on equity of 3.11%. The company’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $0.43 EPS. On average, equities analysts forecast that American Campus Communities will post $0.86 EPS for the current year.

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In related news, insider William C. Bayless, Jr. sold 12,409 shares of American Campus Communities stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $50.11, for a total transaction of $621,814.99. Following the completion of the transaction, the insider now directly owns 271,873 shares of the company’s stock, valued at approximately $13,623,556.03. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jennifer Beese sold 856 shares of American Campus Communities stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $48.45, for a total transaction of $41,473.20. Following the transaction, the executive vice president now directly owns 31,475 shares of the company’s stock, valued at $1,524,963.75. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in ACC. Piedmont Investment Advisors LLC purchased a new position in American Campus Communities during the third quarter worth approximately $695,000. Credit Suisse AG boosted its position in American Campus Communities by 7.5% in the third quarter. Credit Suisse AG now owns 485,376 shares of the real estate investment trust’s stock worth $24,692,000 after buying an additional 33,681 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in American Campus Communities by 90.6% in the third quarter. Ameritas Investment Partners Inc. now owns 39,317 shares of the real estate investment trust’s stock worth $2,000,000 after buying an additional 18,692 shares in the last quarter. Barings Real Estate Advisers LLC boosted its position in American Campus Communities by 35.3% in the third quarter. Barings Real Estate Advisers LLC now owns 272,070 shares of the real estate investment trust’s stock worth $13,840,000 after buying an additional 70,941 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its position in American Campus Communities by 49.6% in the third quarter. D. E. Shaw & Co. Inc. now owns 88,044 shares of the real estate investment trust’s stock worth $4,479,000 after buying an additional 29,194 shares in the last quarter.

American Campus Communities Company Profile

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.

5 Day Chart for NYSE:ACC

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