American Campus Communities (NYSE:ACC) Hits New 52-Week High at $48.57
American Campus Communities, Inc. (NYSE:ACC) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $48.57 and last traded at $48.32, with a volume of 10871 shares trading hands. The stock had previously closed at $48.32.
ACC has been the topic of several recent analyst reports. JMP Securities reiterated an “outperform” rating and set a $225.00 target price (up from $220.00) on shares of Workday in a research note on Wednesday, May 29th. KeyCorp set a $37.00 target price on SeaWorld Entertainment and gave the company a “buy” rating in a research note on Tuesday, March 19th. Capital One Financial upgraded American Campus Communities from an “equal weight” rating to an “overweight” rating in a research note on Monday. ValuEngine upgraded Vistra Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, July 3rd. Finally, Robert W. Baird restated a “neutral” rating and issued a $13.00 price target (down from $18.00) on shares of Bed Bath & Beyond in a research note on Thursday. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. American Campus Communities currently has an average rating of “Buy” and an average price target of $48.83.
The stock has a market cap of $6.74 billion, a PE ratio of 21.10 and a beta of 0.39. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.89. The firm has a 50 day simple moving average of $46.99.
Several hedge funds have recently added to or reduced their stakes in ACC. AJO LP boosted its stake in shares of American Campus Communities by 2,547.8% in the 1st quarter. AJO LP now owns 2,349,473 shares of the real estate investment trust’s stock worth $111,788,000 after buying an additional 2,260,741 shares during the last quarter. Norges Bank bought a new position in American Campus Communities in the 4th quarter worth $55,777,000. CIBC Private Wealth Group LLC bought a new position in American Campus Communities in the 1st quarter worth $30,155,000. Millennium Management LLC raised its holdings in American Campus Communities by 466.7% in the 4th quarter. Millennium Management LLC now owns 378,863 shares of the real estate investment trust’s stock worth $15,681,000 after purchasing an additional 312,008 shares during the period. Finally, Foresters Investment Management Company Inc. bought a new position in American Campus Communities in the 4th quarter worth $8,857,000. Hedge funds and other institutional investors own 97.00% of the company’s stock.
American Campus Communities Company Profile (NYSE:ACC)
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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