Texas Permanent School Fund raised its position in American Campus Communities Inc (NYSE:ACC) by 1.4% during the second quarter, Holdings Channel reports. The fund owned 97,888 shares of the real estate investment trust’s stock after buying an additional 1,386 shares during the period. Texas Permanent School Fund’s holdings in American Campus Communities were worth $4,630,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Lasalle Investment Management Securities LLC boosted its position in American Campus Communities by 2.0% in the first quarter. Lasalle Investment Management Securities LLC now owns 4,170,419 shares of the real estate investment trust’s stock worth $198,470,000 after buying an additional 81,539 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in American Campus Communities by 1.3% in the first quarter. Envestnet Asset Management Inc. now owns 50,636 shares of the real estate investment trust’s stock worth $2,409,000 after buying an additional 663 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in American Campus Communities by 0.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 131,368 shares of the real estate investment trust’s stock worth $6,252,000 after buying an additional 735 shares during the last quarter. Morgan Stanley boosted its position in American Campus Communities by 40.7% in the first quarter. Morgan Stanley now owns 411,317 shares of the real estate investment trust’s stock worth $19,575,000 after buying an additional 118,937 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in American Campus Communities by 8.3% in the first quarter. Wells Fargo & Company MN now owns 2,855,324 shares of the real estate investment trust’s stock worth $135,884,000 after buying an additional 218,332 shares during the last quarter.
Shares of American Campus Communities Inc (NYSE:ACC) opened at 47.94 on Tuesday. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of 99.05 and a beta of 0.25. American Campus Communities Inc has a 52-week low of $44.65 and a 52-week high of $54.44. The stock has a 50 day moving average price of $47.72 and a 200-day moving average price of $48.00.
American Campus Communities (NYSE:ACC) last posted its quarterly earnings results on Monday, July 24th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.01. American Campus Communities had a net margin of 8.59% and a return on equity of 1.90%. The company had revenue of $169.90 million for the quarter, compared to analyst estimates of $169.50 million. During the same quarter in the previous year, the business posted $0.54 earnings per share. American Campus Communities’s revenue was down 3.1% on a year-over-year basis. On average, equities research analysts predict that American Campus Communities Inc will post $0.84 EPS for the current fiscal year.
A number of equities analysts have commented on ACC shares. Zacks Investment Research raised American Campus Communities from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a report on Wednesday, June 28th. BidaskClub raised American Campus Communities from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Canaccord Genuity reissued a “buy” rating and set a $56.00 target price on shares of American Campus Communities in a report on Monday, July 24th. FBR & Co reissued a “buy” rating on shares of American Campus Communities in a report on Friday, May 19th. Finally, TheStreet cut American Campus Communities from a “b” rating to a “c+” rating in a report on Monday, July 24th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $52.13.
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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