B. Riley Reiterates $56.00 Price Target for American Campus Communities Inc (ACC)
B. Riley set a $56.00 price target on American Campus Communities Inc (NYSE:ACC) in a report released on Tuesday morning. The brokerage currently has a buy rating on the real estate investment trust’s stock.
Several other brokerages also recently commented on ACC. Robert W. Baird reduced their target price on shares of American Campus Communities from $51.00 to $47.00 and set an outperform rating for the company in a report on Tuesday, October 31st. Zacks Investment Research downgraded shares of American Campus Communities from a hold rating to a sell rating in a report on Monday, October 30th. Citigroup Inc. reaffirmed a neutral rating on shares of American Campus Communities in a report on Friday, October 27th. Argus raised shares of American Campus Communities from a hold rating to a buy rating in a report on Thursday, October 26th. Finally, Bank of America Corporation downgraded shares of American Campus Communities from a buy rating to a neutral rating and set a $45.00 target price for the company. in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $52.22.
Shares of American Campus Communities (ACC) traded up $0.52 on Tuesday, hitting $42.35. 1,105,200 shares of the stock were exchanged, compared to its average volume of 668,650. American Campus Communities has a 52 week low of $41.06 and a 52 week high of $51.70. The company has a market cap of $5,706.72, a P/E ratio of 18.76, a PEG ratio of 13.85 and a beta of 0.27. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Monday, November 13th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Friday, November 10th. American Campus Communities’s dividend payout ratio (DPR) is 429.28%.
Institutional investors have recently modified their holdings of the business. Raymond James Trust N.A. raised its stake in American Campus Communities by 6.6% in the 2nd quarter. Raymond James Trust N.A. now owns 4,567 shares of the real estate investment trust’s stock worth $216,000 after purchasing an additional 283 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in American Campus Communities in the 3rd quarter worth about $202,000. Garner Asset Management Corp acquired a new stake in American Campus Communities in the 2nd quarter worth about $247,000. Cipher Capital LP acquired a new stake in American Campus Communities in the 3rd quarter worth about $244,000. Finally, Bridgewater Wealth & Financial Management LLC raised its stake in American Campus Communities by 1.3% in the 2nd quarter. Bridgewater Wealth & Financial Management LLC now owns 5,813 shares of the real estate investment trust’s stock worth $275,000 after purchasing an additional 75 shares in the last quarter.
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.
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