American Campus Communities (NYSE:ACC) was upgraded by equities researchers at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, The Fly reports.
A number of other equities research analysts have also recently issued reports on ACC. Zacks Investment Research upgraded shares of American Campus Communities from a “sell” rating to a “hold” rating in a report on Tuesday, August 21st. Deutsche Bank upped their price target on shares of American Campus Communities from $42.00 to $45.00 and gave the company a “hold” rating in a report on Wednesday, September 5th. ValuEngine raised shares of American Campus Communities from a “sell” rating to a “hold” rating in a research report on Wednesday, September 12th. JMP Securities reaffirmed a “buy” rating and set a $49.00 price objective on shares of American Campus Communities in a research report on Tuesday, October 16th. Finally, TheStreet lowered shares of American Campus Communities from a “b-” rating to a “c” rating in a research report on Monday, October 22nd. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. American Campus Communities currently has a consensus rating of “Buy” and a consensus target price of $44.75.
ACC stock opened at $42.49 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.57 and a quick ratio of 1.57. American Campus Communities has a 52-week low of $34.52 and a 52-week high of $44.11. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 18.39 and a beta of 0.25.
In other news, EVP Cardenas Jorge De sold 11,262 shares of the company’s stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $43.07, for a total transaction of $485,054.34. Following the completion of the transaction, the executive vice president now owns 32,466 shares of the company’s stock, valued at $1,398,310.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.64% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Marshall Wace LLP acquired a new position in American Campus Communities in the second quarter worth about $6,674,000. Macquarie Group Ltd. raised its position in American Campus Communities by 29.9% in the second quarter. Macquarie Group Ltd. now owns 41,700 shares of the real estate investment trust’s stock worth $1,788,000 after purchasing an additional 9,600 shares in the last quarter. Signition LP acquired a new position in American Campus Communities in the third quarter worth about $306,000. Chartwell Investment Partners LLC raised its position in American Campus Communities by 65.4% in the second quarter. Chartwell Investment Partners LLC now owns 47,045 shares of the real estate investment trust’s stock worth $2,017,000 after purchasing an additional 18,600 shares in the last quarter. Finally, FIL Ltd raised its position in American Campus Communities by 0.5% in the third quarter. FIL Ltd now owns 1,061,854 shares of the real estate investment trust’s stock worth $43,706,000 after purchasing an additional 5,083 shares in the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.
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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