Municipal Employees Retirement System of Michigan Sells 9,470 Shares of American Campus Communities Inc (NYSE:ACC)

Municipal Employees Retirement System of Michigan lowered its stake in shares of American Campus Communities Inc (NYSE:ACC) by 15.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 51,750 shares of the real estate investment trust’s stock after selling 9,470 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in American Campus Communities were worth $2,448,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Israel Discount Bank of New York acquired a new position in American Campus Communities during the first quarter valued at $116,000. Stifel Financial Corp raised its position 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 last quarter. Sprott Inc. acquired a new position in American Campus Communities during the first quarter valued at $339,000. Quantbot Technologies LP acquired a new position in American Campus Communities during the first quarter valued at $382,000. Finally, First Citizens Bank & Trust Co. acquired a new position in American Campus Communities during the first quarter valued at $398,000.

American Campus Communities Inc (NYSE ACC) traded down 0.60% on Friday, reaching $46.21. 675,759 shares of the company’s stock traded hands. The stock has a market capitalization of $6.30 billion, a PE ratio of 95.48 and a beta of 0.25. American Campus Communities Inc has a 52-week low of $44.65 and a 52-week high of $52.53. The firm’s 50-day moving average is $47.46 and its 200 day moving average is $47.85.

American Campus Communities (NYSE:ACC) last issued its quarterly earnings results on Monday, July 24th. The real estate investment trust reported $0.53 EPS for the quarter, missing the 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 business had revenue of $169.90 million for the quarter, compared to analyst estimates of $169.50 million. During the same quarter in the prior year, the firm earned $0.54 EPS. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. Analysts forecast that American Campus Communities Inc will post $0.68 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Monday, August 14th will be paid a dividend of $0.44 per share. This is a positive change from American Campus Communities’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $1.76 annualized dividend and a yield of 3.81%. American Campus Communities’s dividend payout ratio (DPR) is presently 359.18%.

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A number of equities analysts have commented on the stock. BidaskClub upgraded shares of American Campus Communities from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Canaccord Genuity reiterated a “buy” rating and issued a $56.00 price objective on shares of American Campus Communities in a report on Monday, July 24th. Zacks Investment Research upgraded shares of American Campus Communities from a “sell” rating to a “hold” rating in a report on Friday, July 21st. Evercore ISI raised shares of American Campus Communities from an “underperform” rating to an “in-line” rating and boosted their target price for the stock from $48.00 to $49.00 in a research report on Monday, June 19th. Finally, TheStreet downgraded shares of American Campus Communities from a “b” rating to a “c+” rating in a research report on Monday, July 24th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $52.71.

American Campus Communities Company Profile

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)

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