Zacks Investment Research upgraded shares of American Campus Communities (NYSE:ACC) from a hold rating to a buy rating in a research note released on Monday morning, Zacks.com reports. Zacks Investment Research currently has $53.00 price objective on the real estate investment trust’s stock.
According to Zacks, “American Campus Communities, Inc. is a real estate investment trust (REIT). Through ACC’s controlling interest in American Campus Communities Operating Partnership L.P. (ACCOP), ACC is one of the largest owners, managers and developers of high quality student housing properties in the United States in terms of beds owned and under management. ACC is a fully integrated, self-managed and self-administered equity REIT with expertise in the acquisition, design, financing, development, construction management, leasing and management of student housing properties. “
A number of other research firms have also weighed in on ACC. Capital One Financial raised shares of American Campus Communities from an equal weight rating to an overweight rating in a report on Monday. JMP Securities reaffirmed an outperform rating and set a $225.00 price target (up from $220.00) on shares of Workday in a report on Wednesday, May 29th. KeyCorp set a $37.00 price target on shares of SeaWorld Entertainment and gave the company 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Buy and an average price target of $48.83.
ACC opened at $48.75 on Monday. The company’s fifty day moving average price is $46.99. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of 20.72 and a beta of 0.39. American Campus Communities has a twelve month low of $38.40 and a twelve month high of $49.33. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.61 and a current ratio of 1.61.
American Campus Communities (NYSE:ACC) last released its quarterly earnings results on Monday, April 22nd. The real estate investment trust reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.04. The business had revenue of $242.10 million during the quarter, compared to analyst estimates of $226.72 million. American Campus Communities had a net margin of 13.39% and a return on equity of 3.21%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the business earned $0.65 EPS. Analysts forecast that American Campus Communities will post 2.42 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in ACC. Parallel Advisors LLC grew its holdings in American Campus Communities by 97.5% during the 1st quarter. Parallel Advisors LLC now owns 630 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 311 shares in the last quarter. Pinnacle Bank acquired a new position in American Campus Communities during the 4th quarter worth $31,000. JOYN Advisors Inc. grew its holdings in American Campus Communities by 143.9% during the 4th quarter. JOYN Advisors Inc. now owns 912 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 538 shares in the last quarter. FMR LLC grew its holdings in American Campus Communities by 1,518.3% during the 1st quarter. FMR LLC now owns 971 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 911 shares in the last quarter. Finally, Penserra Capital Management LLC acquired a new position in American Campus Communities during the 1st quarter worth $59,000. 97.00% of the stock is owned by institutional investors.
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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