American Campus Communities Inc (NYSE:ACC) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

American Campus Communities Inc (NYSE:ACC) posted its quarterly earnings results on Monday, July 24th. The real estate investment trust reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.01, Bloomberg Earnings reports. 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 during the quarter, compared to analyst estimates of $169.50 million. During the same period last year, the firm earned $0.54 EPS. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. American Campus Communities updated its FY17 guidance to $2.34-2.44 EPS.

American Campus Communities (ACC) traded down 1.17% during mid-day trading on Friday, hitting $47.25. The stock had a trading volume of 596,967 shares. The firm has a market cap of $6.45 billion, a PE ratio of 97.62 and a beta of 0.25. American Campus Communities has a 52 week low of $44.65 and a 52 week high of $52.53. The company’s 50 day moving average price is $47.33 and its 200 day moving average price is $47.78.

The company also recently declared 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 is a boost from American Campus Communities’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Thursday, August 10th. American Campus Communities’s payout ratio is 359.18%.

Several institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its position in American Campus Communities by 0.4% in the fourth quarter. AQR Capital Management LLC now owns 67,606 shares of the real estate investment trust’s stock valued at $3,365,000 after buying an additional 245 shares during the last quarter. Brookfield Asset Management Inc. bought a new position in American Campus Communities during the fourth quarter valued at about $101,919,000. Lasalle Investment Management Securities LLC raised 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 valued at $198,470,000 after buying an additional 81,539 shares during the last quarter. Envestnet Asset Management Inc. raised 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 valued at $2,409,000 after buying an additional 663 shares during the last quarter. Finally, Morgan Stanley raised 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 valued at $19,575,000 after buying an additional 118,937 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors.

A number of research analysts have issued reports on ACC shares. JMP Securities upgraded American Campus Communities from a “market perform” rating to an “outperform” rating and set a $55.00 target price on the stock in a research report on Monday, July 10th. Zacks Investment Research upgraded American Campus Communities from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Wednesday, June 28th. Cantor Fitzgerald reiterated an “overweight” rating on shares of American Campus Communities in a research report on Thursday, August 10th. Evercore ISI upgraded American Campus Communities from an “underperform” rating to an “in-line” rating and lifted their target price for the company from $48.00 to $49.00 in a research report on Monday, June 19th. Finally, TheStreet cut American Campus Communities from a “b” rating to a “c+” rating in a research report on Monday, July 24th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. American Campus Communities currently has a consensus rating of “Buy” and an average price target of $52.71.

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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.

Earnings History for American Campus Communities (NYSE:ACC)

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