Dupont Capital Management Corp increased its position in shares of American Campus Communities, Inc. (NYSE:ACC) by 143.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,391 shares of the real estate investment trust’s stock after purchasing an additional 10,846 shares during the quarter. Dupont Capital Management Corp’s holdings in American Campus Communities were worth $643,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp lifted its position in American Campus Communities by 1.7% during the first quarter. State Street Corp now owns 6,711,991 shares of the real estate investment trust’s stock worth $186,258,000 after purchasing an additional 114,673 shares during the period. Resolution Capital Ltd acquired a new position in American Campus Communities during the second quarter worth about $178,753,000. Alliancebernstein L.P. raised its stake in American Campus Communities by 54.2% during the first quarter. Alliancebernstein L.P. now owns 4,547,079 shares of the real estate investment trust’s stock worth $126,181,000 after acquiring an additional 1,597,828 shares in the last quarter. Wells Fargo & Company MN raised its stake in American Campus Communities by 5.7% during the first quarter. Wells Fargo & Company MN now owns 4,448,513 shares of the real estate investment trust’s stock worth $123,447,000 after acquiring an additional 238,451 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in American Campus Communities by 0.5% during the first quarter. Geode Capital Management LLC now owns 2,220,315 shares of the real estate investment trust’s stock worth $61,613,000 after acquiring an additional 10,412 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.
Several research analysts have commented on the company. KeyCorp lowered their target price on American Campus Communities from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 27th. Citigroup lowered their target price on American Campus Communities from $51.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Zacks Investment Research downgraded American Campus Communities from a “buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Finally, Deutsche Bank lowered their target price on American Campus Communities from $52.00 to $37.00 and set a “hold” rating for the company in a research note on Thursday, April 16th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $41.33.
American Campus Communities (NYSE:ACC) last released its quarterly earnings data on Monday, July 20th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.47). American Campus Communities had a net margin of 12.24% and a return on equity of 3.66%. The firm had revenue of $177.19 million during the quarter, compared to analyst estimates of $191.57 million. During the same period in the prior year, the company earned $0.56 EPS. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. Equities analysts anticipate that American Campus Communities, Inc. will post 2.04 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 10th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 5.27%. The ex-dividend date is Friday, August 7th. American Campus Communities’s dividend payout ratio is currently 77.69%.
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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