Magnetar Financial LLC acquired a new stake in American Campus Communities, Inc. (NYSE:ACC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 15,037 shares of the real estate investment trust’s stock, valued at approximately $664,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. CIBC Asset Management Inc purchased a new position in shares of American Campus Communities during the 3rd quarter worth about $202,000. Raymond James Trust N.A. raised its holdings in American Campus Communities by 6.6% in the second quarter. Raymond James Trust N.A. now owns 4,567 shares of the real estate investment trust’s stock valued at $216,000 after buying an additional 283 shares during the period. Cipher Capital LP purchased a new position in American Campus Communities in the third quarter valued at approximately $244,000. Garner Asset Management Corp purchased a new position in American Campus Communities in the second quarter valued at approximately $247,000. Finally, Bridgewater Wealth & Financial Management LLC raised its holdings in American Campus Communities by 1.3% in the second quarter. Bridgewater Wealth & Financial Management LLC now owns 5,813 shares of the real estate investment trust’s stock valued at $275,000 after buying an additional 75 shares during the period.
A number of research firms have recently issued reports on ACC. KeyCorp reiterated a “buy” rating and set a $56.00 price objective on shares of American Campus Communities in a research note on Friday, August 25th. FBR & Co reissued a “buy” rating on shares of American Campus Communities in a research report on Monday, September 25th. Zacks Investment Research downgraded shares of American Campus Communities from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Bank of America downgraded shares of American Campus Communities from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a report on Thursday, October 26th. Finally, Argus upgraded American Campus Communities from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $52.22.
American Campus Communities, Inc. (NYSE ACC) opened at $43.43 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $5,904.54, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 14.32 and a beta of 0.27. American Campus Communities, Inc. has a one year low of $41.06 and a one year high of $51.70.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 27th. Stockholders of record on Monday, November 13th were given a $0.44 dividend. The ex-dividend date of this dividend was Friday, November 10th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.05%. American Campus Communities’s payout ratio is 429.28%.
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About American Campus Communities
American Campus Communities, Inc is a self-managed and self-administered equity real estate investment trust (REIT). 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.
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