State Board of Administration of Florida Retirement System Has $10,085,000 Stake in American Campus Communities Inc (ACC)
State Board of Administration of Florida Retirement System maintained its position in shares of American Campus Communities Inc (NYSE:ACC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 213,212 shares of the real estate investment trust’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned 0.16% of American Campus Communities worth $10,085,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Israel Discount Bank of New York purchased a new position in shares of American Campus Communities during the first quarter worth approximately $116,000. Stifel Financial Corp raised its stake in American Campus Communities by 5.6% in the first quarter. Stifel Financial Corp now owns 5,769 shares of the real estate investment trust’s stock valued at $277,000 after buying an additional 308 shares during the period. Bridgewater Wealth & Financial Management LLC raised its stake in American Campus Communities by 1.3% in the second quarter. Bridgewater Wealth & Financial Management LLC now owns 5,813 shares of the real estate investment trust’s stock valued at $275,000 after buying an additional 75 shares during the period. Sprott Inc. bought a new stake in American Campus Communities during the first quarter valued at about $339,000. Finally, Quantbot Technologies LP bought a new stake in American Campus Communities during the first quarter valued at about $382,000.
Shares of American Campus Communities Inc (ACC) opened at 47.72 on Thursday. The company has a 50-day moving average price of $47.41 and a 200 day moving average price of $47.76. The firm has a market capitalization of $6.51 billion, a price-to-earnings ratio of 98.60 and a beta of 0.25. American Campus Communities Inc has a 1-year low of $44.65 and a 1-year high of $52.53.
American Campus Communities (NYSE:ACC) last issued its earnings results on Monday, July 24th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by $0.01. American Campus Communities had a return on equity of 1.90% and a net margin of 8.59%. The firm had revenue of $169.90 million during the quarter, compared to the consensus estimate of $169.50 million. During the same period last year, the firm posted $0.54 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities research analysts predict that American Campus Communities Inc will post $0.68 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Monday, August 14th were given a $0.44 dividend. The ex-dividend date was Thursday, August 10th. This represents a $1.76 annualized dividend and a yield of 3.69%. This is a positive change from American Campus Communities’s previous quarterly dividend of $0.42. American Campus Communities’s dividend payout ratio (DPR) is currently 359.18%.
Several research firms have recently issued reports on ACC. Zacks Investment Research lowered American Campus Communities from a “buy” rating to a “hold” rating in a report on Friday, July 14th. BidaskClub lowered American Campus Communities from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. FBR & Co reissued a “buy” rating on shares of American Campus Communities in a report on Friday, May 19th. KeyCorp reissued a “buy” rating and set a $56.00 target price on shares of American Campus Communities in a report on Friday, August 25th. Finally, Hilliard Lyons raised American Campus Communities from an “underperform” rating to a “neutral” rating in a report on Friday, August 11th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. American Campus Communities presently has a consensus rating of “Buy” and an average price target of $53.13.
About American Campus Communities
American Campus Communities, Inc is a self-managed and self-administered equity real estate investment trust (REIT). The Company’s segments include Wholly-Owned Properties, On-Campus Participating Properties, Development Services, and Property Management Services. It is engaged in the acquisition, design, financing, development, construction management, leasing and management of student housing properties.
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