Cohen & Steers Inc. increased its stake in American Campus Communities Inc (NYSE:ACC) by 20.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,080,372 shares of the real estate investment trust’s stock after buying an additional 2,704,851 shares during the quarter. American Campus Communities makes up 1.9% of Cohen & Steers Inc.’s holdings, making the stock its 13th biggest position. Cohen & Steers Inc. owned about 11.79% of American Campus Communities worth $709,948,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ACC. CIBC Asset Management Inc acquired a new stake in shares of American Campus Communities in the 3rd quarter valued at approximately $202,000. Raymond James Trust N.A. lifted its holdings in American Campus Communities by 6.6% during the 2nd quarter. Raymond James Trust N.A. now owns 4,567 shares of the real estate investment trust’s stock valued at $216,000 after purchasing an additional 283 shares during the last quarter. Cipher Capital LP acquired a new stake in American Campus Communities during the 3rd quarter valued at $244,000. Garner Asset Management Corp acquired a new stake in American Campus Communities during the 2nd quarter valued at $247,000. Finally, Bridgewater Wealth & Financial Management LLC lifted its holdings in American Campus Communities by 1.3% during the 2nd quarter. Bridgewater Wealth & Financial Management LLC now owns 5,813 shares of the real estate investment trust’s stock valued at $275,000 after purchasing an additional 75 shares during the last quarter.
American Campus Communities Inc (NYSE:ACC) opened at $42.99 on Friday. 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 has a market capitalization of $5,856.79, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 14.20 and a beta of 0.27. American Campus Communities Inc has a 12-month low of $41.06 and a 12-month high of $51.70.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 27th. Shareholders of record on Monday, November 13th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.09%. The ex-dividend date was Friday, November 10th. American Campus Communities’s payout ratio is 429.28%.
ACC has been the subject of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of American Campus Communities in a report on Thursday, August 10th. Hilliard Lyons raised American Campus Communities from an “underperform” rating to a “neutral” rating in a report on Friday, August 11th. KeyCorp reaffirmed a “buy” rating and set a $56.00 price target on shares of American Campus Communities in a report on Friday, August 25th. FBR & Co reaffirmed a “buy” rating on shares of American Campus Communities in a report on Monday, September 25th. Finally, Zacks Investment Research downgraded American Campus Communities from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $52.22.
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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