American Campus Communities, Inc. (NYSE:ACC) was the target of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 1,790,700 shares, a decrease of 9.9% from the May 30th total of 1,987,100 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily volume of 679,100 shares, the days-to-cover ratio is presently 2.6 days.
ACC has been the topic of several research analyst reports. Capital One Financial raised shares of American Campus Communities from an “equal weight” rating to an “overweight” rating in a research note on Monday, July 8th. KeyCorp set a $37.00 price target on shares of SeaWorld Entertainment and gave the company a “buy” rating in a research note on Tuesday, March 19th. Robert W. Baird decreased their price target on shares of Bed Bath & Beyond from $18.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday. ValuEngine raised shares of Vistra Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, July 3rd. Finally, JMP Securities reissued an “outperform” rating and set a $225.00 price target (up from $220.00) on shares of Workday in a research note on Wednesday, May 29th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. American Campus Communities currently has a consensus rating of “Buy” and an average price target of $48.83.
Shares of ACC stock opened at $48.83 on Friday. American Campus Communities has a 52-week low of $38.40 and a 52-week high of $49.33. The company has a market capitalization of $6.70 billion, a PE ratio of 20.60 and a beta of 0.39. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.89. The firm has a 50 day simple moving average of $47.03.
American Campus Communities (NYSE:ACC) last announced its quarterly earnings data on Monday, April 22nd. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. American Campus Communities had a net margin of 13.39% and a return on equity of 3.21%. The firm had revenue of $242.10 million for the quarter, compared to analysts’ expectations of $226.72 million. During the same period last year, the firm earned $0.65 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts forecast that American Campus Communities will post 2.42 EPS for the current year.
A number of hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its holdings in shares of American Campus Communities by 89.4% during the second quarter. Nisa Investment Advisors LLC now owns 28,194 shares of the real estate investment trust’s stock worth $1,301,000 after acquiring an additional 13,309 shares during the period. WINTON GROUP Ltd raised its holdings in shares of American Campus Communities by 7.9% during the second quarter. WINTON GROUP Ltd now owns 705,032 shares of the real estate investment trust’s stock worth $32,544,000 after acquiring an additional 51,545 shares during the period. Denali Advisors LLC acquired a new stake in shares of American Campus Communities during the second quarter worth $1,412,000. Eii Capital Management Inc. raised its holdings in shares of American Campus Communities by 11.6% during the second quarter. Eii Capital Management Inc. now owns 42,230 shares of the real estate investment trust’s stock worth $1,949,000 after acquiring an additional 4,391 shares during the period. Finally, Amundi Pioneer Asset Management Inc. raised its holdings in shares of American Campus Communities by 10.3% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 87,619 shares of the real estate investment trust’s stock worth $4,168,000 after acquiring an additional 8,173 shares during the period. 97.00% of the stock is currently owned by hedge funds and other 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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