Westpac Banking Corp Grows Position in American Campus Communities, Inc. (NYSE:ACC)

Westpac Banking Corp boosted its stake in American Campus Communities, Inc. (NYSE:ACC) by 14.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 225,999 shares of the real estate investment trust’s stock after buying an additional 28,705 shares during the quarter. Westpac Banking Corp owned approximately 0.16% of American Campus Communities worth $7,892,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ACC. FMR LLC increased its holdings in American Campus Communities by 1,518.3% in the 1st quarter. FMR LLC now owns 971 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 911 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in American Campus Communities by 10.3% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 87,619 shares of the real estate investment trust’s stock worth $4,168,000 after purchasing an additional 8,173 shares during the period. Morgan Stanley boosted its stake in American Campus Communities by 117.6% in the 1st quarter. Morgan Stanley now owns 1,854,091 shares of the real estate investment trust’s stock worth $51,453,000 after purchasing an additional 1,002,073 shares during the period. Strs Ohio boosted its stake in American Campus Communities by 0.6% in the 2nd quarter. Strs Ohio now owns 404,678 shares of the real estate investment trust’s stock worth $14,147,000 after purchasing an additional 2,366 shares during the period. Finally, World Asset Management Inc bought a new position in American Campus Communities in the 2nd quarter worth about $227,000. 88.27% of the stock is owned by institutional investors and hedge funds.

NYSE:ACC opened at $40.50 on Friday. The business has a 50 day moving average of $38.11 and a 200 day moving average of $35.20. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 79.41, a PEG ratio of 0.64 and a beta of 0.90. American Campus Communities, Inc. has a 1-year low of $20.13 and a 1-year high of $49.01. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.03 and a quick ratio of 1.03.

American Campus Communities (NYSE:ACC) last released its earnings results on Saturday, October 31st. The real estate investment trust reported ($0.15) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.45). The firm had revenue of $202.70 million during the quarter, compared to the consensus estimate of $190.07 million. American Campus Communities had a return on equity of 2.50% and a net margin of 8.14%. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 EPS. As a group, sell-side analysts anticipate that American Campus Communities, Inc. will post 1.95 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Monday, November 16th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.88 dividend on an annualized basis and a yield of 4.64%. American Campus Communities’s dividend payout ratio (DPR) is currently 77.69%.

Several brokerages have commented on ACC. Zacks Investment Research downgraded American Campus Communities from a “hold” rating to a “sell” rating in a research note on Thursday, September 17th. Piper Sandler downgraded American Campus Communities from an “overweight” rating to a “neutral” rating and set a $38.00 price target for the company. in a research report on Monday, September 21st. Finally, KeyCorp dropped their price target on American Campus Communities from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, July 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $38.83.

In other American Campus Communities news, CEO William C. Bayless, Jr. sold 120,000 shares of American Campus Communities stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $35.12, for a total value of $4,214,400.00. Following the transaction, the chief executive officer now directly owns 428,181 shares of the company’s stock, valued at approximately $15,037,716.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by insiders.

American Campus Communities Profile

American Campus Communities, Inc is the largest owner, manager and developer of high-quality student housing communities in the United States. The company is a fully integrated, self-managed and self-administered equity real estate investment trust (REIT) with expertise in the design, finance, development, construction management and operational management of student housing properties.

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Institutional Ownership by Quarter for American Campus Communities (NYSE:ACC)

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