American Campus Communities Inc. (ACC) Shares Sold by Prudential Financial Inc.
Prudential Financial Inc. decreased its stake in American Campus Communities Inc. (NYSE:ACC) by 7.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,961,738 shares of the real estate investment trust’s stock after selling 155,299 shares during the period. Prudential Financial Inc. owned about 1.50% of American Campus Communities worth $99,794,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of ACC. Cohen & Steers Inc. increased its position in shares of American Campus Communities by 175.6% in the second quarter. Cohen & Steers Inc. now owns 8,603,093 shares of the real estate investment trust’s stock valued at $454,846,000 after buying an additional 5,481,735 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in American Campus Communities by 87,102.4% in the second quarter. Daiwa Securities Group Inc. now owns 4,070,608 shares of the real estate investment trust’s stock valued at $215,213,000 after buying an additional 4,065,940 shares during the period. Vanguard Group Inc. boosted its stake in American Campus Communities by 4.4% in the second quarter. Vanguard Group Inc. now owns 19,663,893 shares of the real estate investment trust’s stock valued at $1,039,630,000 after buying an additional 825,902 shares during the period. Principal Financial Group Inc. boosted its stake in American Campus Communities by 46.8% in the second quarter. Principal Financial Group Inc. now owns 2,560,836 shares of the real estate investment trust’s stock valued at $135,392,000 after buying an additional 816,544 shares during the period. Finally, Presima Inc. purchased a new stake in American Campus Communities during the third quarter valued at $25,069,000.
American Campus Communities Inc. (NYSE:ACC) opened at 46.66 on Tuesday. The firm has a 50-day moving average price of $48.58 and a 200 day moving average price of $49.68. American Campus Communities Inc. has a 52 week low of $37.75 and a 52 week high of $54.56. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 58.03 and a beta of 0.26.
American Campus Communities (NYSE:ACC) last announced its quarterly earnings data on Monday, October 24th. The real estate investment trust reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. The company had revenue of $196.40 million for the quarter, compared to analysts’ expectations of $183.69 million. American Campus Communities had a return on equity of 3.11% and a net margin of 13.00%. American Campus Communities’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $0.43 EPS. On average, equities research analysts forecast that American Campus Communities Inc. will post $2.26 earnings per share for the current fiscal year.
The company also recently disclosed a dividend, which was paid on Monday, November 28th. Investors of record on Monday, November 14th were issued a dividend of $0.42 per share. The ex-dividend date was Wednesday, November 9th. American Campus Communities’s dividend payout ratio is 204.88%.
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Several analysts have recently weighed in on the company. Zacks Investment Research upgraded American Campus Communities from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Wednesday, November 16th. Canaccord Genuity set a $59.00 price target on American Campus Communities and gave the stock a “buy” rating in a report on Monday, October 24th. Capital One Financial Corp. assumed coverage on American Campus Communities in a report on Friday, September 23rd. They set an “equal weight” rating and a $49.00 price target on the stock. Deutsche Bank AG boosted their price target on American Campus Communities from $47.00 to $48.00 and gave the stock a “hold” rating in a report on Wednesday, August 10th. Finally, FBR & Co restated a “buy” rating and set a $56.00 price target on shares of American Campus Communities in a report on Wednesday, October 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. American Campus Communities currently has an average rating of “Hold” and a consensus price target of $50.00.
In related news, EVP Jennifer Beese sold 856 shares of the firm’s 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 approximately $1,524,963.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William C. Bayless, Jr. sold 12,409 shares of the firm’s stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $50.11, for a total value of $621,814.99. Following the transaction, the insider now directly owns 271,873 shares in the company, valued at $13,623,556.03. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.
About American Campus Communities
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.
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