Verition Fund Management LLC Acquires 10,985 Shares of American Campus Communities, Inc. (ACC)

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Verition Fund Management LLC raised its holdings in shares of American Campus Communities, Inc. (NYSE:ACC) by 219.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 15,987 shares of the real estate investment trust’s stock after acquiring an additional 10,985 shares during the period. Verition Fund Management LLC’s holdings in American Campus Communities were worth $617,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ACC. Ceredex Value Advisors LLC bought a new stake in shares of American Campus Communities in the 1st quarter valued at $99,989,000. Alliancebernstein L.P. increased its position in shares of American Campus Communities by 793.8% in the 4th quarter. Alliancebernstein L.P. now owns 1,456,286 shares of the real estate investment trust’s stock valued at $59,751,000 after buying an additional 1,293,350 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of American Campus Communities by 52.3% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,134,540 shares of the real estate investment trust’s stock valued at $82,436,000 after buying an additional 732,622 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of American Campus Communities by 11.3% in the 1st quarter. JPMorgan Chase & Co. now owns 3,250,974 shares of the real estate investment trust’s stock valued at $125,554,000 after buying an additional 330,151 shares in the last quarter. Finally, Monarch Partners Asset Management LLC bought a new stake in shares of American Campus Communities in the 1st quarter valued at $9,318,000. Institutional investors own 97.85% of the company’s stock.

In other American Campus Communities news, President James Clarence Hopke, Jr. sold 8,000 shares of the stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $43.30, for a total transaction of $346,400.00. Following the completion of the transaction, the president now owns 69,794 shares in the company, valued at approximately $3,022,080.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.67% of the stock is currently owned by corporate insiders.

American Campus Communities opened at $43.08 on Friday, MarketBeat reports. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 13.97 and a beta of 0.22. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.77 and a quick ratio of 1.77. American Campus Communities, Inc. has a 1 year low of $34.52 and a 1 year high of $49.26.

A number of research firms recently commented on ACC. Bank of America upgraded shares of American Campus Communities from a “neutral” rating to a “buy” rating and upped their price objective for the company from $43.00 to $46.50 in a research report on Thursday, June 14th. Zacks Investment Research upgraded shares of American Campus Communities from a “sell” rating to a “hold” rating in a research report on Tuesday, June 12th. ValuEngine cut shares of American Campus Communities from a “hold” rating to a “sell” rating in a research report on Monday, May 14th. Deutsche Bank upped their price objective on shares of American Campus Communities from $42.00 to $43.00 and gave the company a “hold” rating in a research report on Wednesday, March 28th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $41.00 price objective (down previously from $45.00) on shares of American Campus Communities in a research report on Friday, March 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $47.21.

American Campus Communities Company 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.

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

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