Waddell & Reed Financial Inc. reduced its stake in shares of American Campus Communities, Inc. (NYSE:ACC) by 10.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,697 shares of the real estate investment trust’s stock after selling 26,440 shares during the quarter. Waddell & Reed Financial Inc. owned 0.17% of American Campus Communities worth $10,064,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Garner Asset Management Corp acquired a new position in American Campus Communities during the second quarter worth $203,000. CIBC Asset Management Inc bought a new position in American Campus Communities in the second quarter valued at about $210,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in American Campus Communities in the second quarter valued at about $223,000. GWM Advisors LLC bought a new position in American Campus Communities in the first quarter valued at about $234,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in American Campus Communities in the first quarter valued at about $235,000. Hedge funds and other institutional investors own 97.87% of the company’s stock.
ACC has been the topic of several recent research reports. Zacks Investment Research upgraded American Campus Communities from a “sell” rating to a “hold” rating in a report on Wednesday, September 5th. Argus cut American Campus Communities from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. ValuEngine upgraded American Campus Communities from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. Finally, Deutsche Bank raised their price target on American Campus Communities from $42.00 to $45.00 and gave the company a “hold” rating in a report on Wednesday, September 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.75.
ACC traded down $0.32 during midday trading on Friday, reaching $39.20. 831,937 shares of the company were exchanged, compared to its average volume of 800,761. The stock has a market cap of $5.64 billion, a P/E ratio of 16.97 and a beta of 0.14. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.77. American Campus Communities, Inc. has a one year low of $34.52 and a one year high of $45.19.
American Campus Communities (NYSE:ACC) last released its quarterly earnings results on Monday, July 23rd. The real estate investment trust reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.01). The business had revenue of $190.20 million for the quarter, compared to analyst estimates of $190.23 million. American Campus Communities had a return on equity of 3.29% and a net margin of 12.97%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 EPS. As a group, equities analysts forecast that American Campus Communities, Inc. will post 2.32 EPS for the current year.
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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