American Campus Communities, Inc. (ACC) Stake Lowered by Credit Suisse AG
Credit Suisse AG lessened its stake in American Campus Communities, Inc. (NYSE:ACC) by 5.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 326,133 shares of the real estate investment trust’s stock after selling 17,164 shares during the quarter. Credit Suisse AG’s holdings in American Campus Communities were worth $13,424,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ACC. CIBC Asset Management Inc acquired a new stake in American Campus Communities during the 2nd quarter valued at $210,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in American Campus Communities during the 2nd quarter valued at $223,000. Point72 Hong Kong Ltd acquired a new stake in American Campus Communities during the 2nd quarter valued at $243,000. Qube Research & Technologies Ltd acquired a new stake in American Campus Communities during the 2nd quarter valued at $245,000. Finally, Global X Management Co LLC lifted its holdings in American Campus Communities by 32.9% during the 2nd quarter. Global X Management Co LLC now owns 5,762 shares of the real estate investment trust’s stock valued at $247,000 after purchasing an additional 1,427 shares during the last quarter. 98.24% of the stock is owned by institutional investors.
In other news, EVP Cardenas Jorge De sold 11,262 shares of American Campus Communities stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $43.07, for a total transaction of $485,054.34. Following the completion of the sale, the executive vice president now owns 32,466 shares of the company’s stock, valued at $1,398,310.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.67% of the stock is currently owned by company insiders.
American Campus Communities (NYSE:ACC) last posted its earnings results on Monday, October 22nd. The real estate investment trust reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.45). American Campus Communities had a return on equity of 3.25% and a net margin of 12.60%. The firm had revenue of $213.50 million for the quarter, compared to analyst estimates of $201.92 million. During the same period in the prior year, the business posted $0.43 EPS. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts predict that American Campus Communities, Inc. will post 2.31 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 26th. Stockholders of record on Monday, November 12th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Thursday, November 8th. American Campus Communities’s dividend payout ratio is currently 79.65%.
Several equities research analysts have issued reports on the company. Zacks Investment Research downgraded American Campus Communities from a “hold” rating to a “sell” rating in a report on Tuesday, September 11th. ValuEngine raised American Campus Communities from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. Capital One Financial reaffirmed an “equal weight” rating on shares of American Campus Communities in a report on Sunday, November 18th. 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 analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. American Campus Communities currently has an average rating of “Hold” and a consensus target price of $44.75.
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American Campus Communities Profile
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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