American Campus Communities, Inc. (NYSE:ACC) Shares Sold by Pensionfund Sabic
Pensionfund Sabic decreased its position in American Campus Communities, Inc. (NYSE:ACC) by 54.3% in the 1st quarter, HoldingsChannel reports. The firm owned 14,300 shares of the real estate investment trust’s stock after selling 17,000 shares during the period. Pensionfund Sabic’s holdings in American Campus Communities were worth $617,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in ACC. FMR LLC raised its stake in American Campus Communities by 1,518.3% in the 1st quarter. FMR LLC now owns 971 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 911 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in American Campus Communities by 10.3% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 87,619 shares of the real estate investment trust’s stock valued at $4,168,000 after purchasing an additional 8,173 shares during the last quarter. LPL Financial LLC grew its holdings in American Campus Communities by 2.3% in the 3rd quarter. LPL Financial LLC now owns 21,632 shares of the real estate investment trust’s stock valued at $755,000 after buying an additional 488 shares during the period. Land & Buildings Investment Management LLC purchased a new stake in American Campus Communities in the 3rd quarter valued at about $48,233,000. Finally, AQR Capital Management LLC grew its holdings in American Campus Communities by 108.1% in the 3rd quarter. AQR Capital Management LLC now owns 125,423 shares of the real estate investment trust’s stock valued at $4,380,000 after buying an additional 65,146 shares during the period. 96.69% of the stock is owned by hedge funds and other institutional investors.
ACC has been the subject of several recent analyst reports. Evercore ISI cut American Campus Communities from an “outperform” rating to an “inline” rating in a report on Monday, December 14th. Zacks Investment Research upgraded American Campus Communities from a “strong sell” rating to a “hold” rating in a report on Thursday, March 4th. Smith Barney Citigroup lifted their price target on American Campus Communities from $38.00 to $43.00 in a report on Tuesday, December 15th. JPMorgan Chase & Co. cut American Campus Communities from a “neutral” rating to an “underweight” rating and set a $40.00 price target for the company. in a report on Monday, December 21st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on American Campus Communities from $49.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, March 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $42.57.
American Campus Communities (NYSE:ACC) last issued its earnings results on Sunday, February 21st. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.37). American Campus Communities had a return on equity of 2.50% and a net margin of 8.14%. The firm had revenue of $232.96 million for the quarter, compared to analysts’ expectations of $215.58 million. During the same quarter in the previous year, the firm posted $0.72 EPS. The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year. Analysts predict that American Campus Communities, Inc. will post 1.93 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 19th. Stockholders of record on Thursday, January 28th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Wednesday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.25%. This is a boost from American Campus Communities’s previous quarterly dividend of $0.42. American Campus Communities’s payout ratio is presently 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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