American Campus Communities Inc (NYSE:ACC) Stake Boosted by Texas Permanent School Fund

Texas Permanent School Fund increased its position in American Campus Communities Inc (NYSE:ACC) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 owned about 0.07% of American Campus Communities worth $4,630,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Israel Discount Bank of New York bought a new stake in American Campus Communities during the first quarter worth about $116,000. Stifel Financial Corp boosted its position in shares of 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 worth $277,000 after buying an additional 308 shares during the last quarter. Sprott Inc. acquired a new position in shares of American Campus Communities during the first quarter worth approximately $339,000. Quantbot Technologies LP acquired a new position in shares of American Campus Communities during the first quarter worth approximately $382,000. Finally, First Citizens Bank & Trust Co. acquired a new position in shares of American Campus Communities during the first quarter worth approximately $398,000. 99.83% of the stock is owned by institutional investors.

Shares of American Campus Communities Inc (NYSE:ACC) traded down 1.17% during mid-day trading on Friday, reaching $47.25. 596,967 shares of the company’s stock were exchanged. The company has a market capitalization of $6.45 billion, a PE ratio of 97.62 and a beta of 0.25. The company’s 50-day moving average price is $47.33 and its 200-day moving average price is $47.78. American Campus Communities Inc has a one year low of $44.65 and a one year high of $52.53.

American Campus Communities (NYSE:ACC) last posted its earnings results on Monday, July 24th. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.54 by $0.01. The firm had revenue of $169.90 million for the quarter, compared to analysts’ expectations of $169.50 million. American Campus Communities had a net margin of 8.59% and a return on equity of 1.90%. American Campus Communities’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the firm earned $0.54 earnings per share. On average, equities analysts expect that American Campus Communities Inc will post $0.73 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Monday, August 14th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.72%. 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. American Campus Communities’s payout ratio is 359.18%.

TRADEMARK VIOLATION WARNING: “[[title]]” was originally posted by [[site]] and is the property of of [[site]]. If you are viewing this article on another site, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this article can be viewed at [[permalink]].

A number of research firms have issued reports on ACC. Zacks Investment Research cut shares of American Campus Communities from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. BidaskClub cut shares of American Campus Communities from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. FBR & Co reiterated a “buy” rating on shares of American Campus Communities in a research report on Friday, May 19th. Hilliard Lyons raised shares of American Campus Communities from an “underperform” rating to a “neutral” rating in a research note on Friday, August 11th. Finally, Canaccord Genuity reissued a “buy” rating and set a $56.00 price objective on shares of American Campus Communities in a research note on Monday, July 24th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price 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.