Sumitomo Mitsui Asset Management Company LTD Lowers Position in American Campus Communities Inc (NYSE:ACC)

Sumitomo Mitsui Asset Management Company LTD trimmed its stake in shares of American Campus Communities Inc (NYSE:ACC) by 63.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,991 shares of the real estate investment trust’s stock after selling 53,456 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in American Campus Communities were worth $1,368,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the company. Raymond James Trust N.A. grew its holdings in American Campus Communities by 6.6% in the 2nd quarter. Raymond James Trust N.A. now owns 4,567 shares of the real estate investment trust’s stock worth $216,000 after buying an additional 283 shares in the last quarter. Garner Asset Management Corp bought a new position in American Campus Communities in the 2nd quarter worth approximately $247,000. Bridgewater Wealth & Financial Management LLC grew its holdings in American Campus Communities by 1.3% in the 2nd quarter. Bridgewater Wealth & Financial Management LLC now owns 5,813 shares of the real estate investment trust’s stock worth $275,000 after buying an additional 75 shares in the last quarter. Verition Fund Management LLC bought a new position in American Campus Communities during the 2nd quarter valued at $282,000. Finally, Ramsey Quantitative Systems bought a new position in American Campus Communities during the 2nd quarter valued at $304,000.

A number of equities analysts have issued reports on ACC shares. KeyCorp reaffirmed a “buy” rating and set a $56.00 price target on shares of American Campus Communities in a research note on Friday, August 25th. Argus raised American Campus Communities from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. Hilliard Lyons raised American Campus Communities from an “underperform” rating to a “neutral” rating in a research note on Friday, August 11th. Cantor Fitzgerald reiterated an “overweight” rating on shares of American Campus Communities in a research report on Thursday, August 10th. Finally, Zacks Investment Research downgraded American Campus Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $52.22.

WARNING: This news story was first posted by Week Herald and is owned by of Week Herald. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright legislation. The correct version of this news story can be accessed at https://weekherald.com/2017/11/15/sumitomo-mitsui-asset-management-company-ltd-has-1-37-million-position-in-american-campus-communities-inc-acc.html.

American Campus Communities Inc (ACC) opened at $42.69 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79. The company has a market cap of $5,828.14, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 14.14 and a beta of 0.27. American Campus Communities Inc has a 1 year low of $41.06 and a 1 year high of $51.70.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Monday, November 13th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Friday, November 10th. American Campus Communities’s payout ratio is 429.28%.

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.

Institutional Ownership by Quarter for American Campus Communities (NYSE:ACC)

Receive News & Ratings for American Campus Communities Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Campus Communities Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply