Millennium Management LLC Purchases 312,008 Shares of American Campus Communities, Inc. (NYSE:ACC)

Millennium Management LLC increased its stake in shares of American Campus Communities, Inc. (NYSE:ACC) by 466.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 378,863 shares of the real estate investment trust’s stock after buying an additional 312,008 shares during the period. Millennium Management LLC owned 0.28% of American Campus Communities worth $15,681,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Trust Advisors LP boosted its stake in shares of American Campus Communities by 3.3% in the 3rd quarter. First Trust Advisors LP now owns 40,738 shares of the real estate investment trust’s stock valued at $1,677,000 after purchasing an additional 1,284 shares in the last quarter. JPMorgan Chase & Co. increased its stake in American Campus Communities by 39.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,597,994 shares of the real estate investment trust’s stock worth $271,572,000 after purchasing an additional 1,858,226 shares in the last quarter. MML Investors Services LLC increased its stake in American Campus Communities by 66.7% during the 3rd quarter. MML Investors Services LLC now owns 11,880 shares of the real estate investment trust’s stock worth $489,000 after purchasing an additional 4,754 shares in the last quarter. Janus Henderson Group PLC bought a new stake in American Campus Communities during the 3rd quarter worth approximately $465,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in American Campus Communities during the 3rd quarter worth approximately $2,126,000. Institutional investors and hedge funds own 98.36% of the company’s stock.

A number of analysts recently issued reports on the company. Zacks Investment Research cut American Campus Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. KeyCorp increased their target price on American Campus Communities from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Finally, TheStreet raised American Campus Communities from a “c” rating to a “b-” rating in a research note on Wednesday, February 20th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. American Campus Communities currently has an average rating of “Hold” and an average price target of $46.90.

NYSE:ACC traded up $0.25 during trading hours on Friday, reaching $47.70. 724,707 shares of the stock were exchanged, compared to its average volume of 801,153. American Campus Communities, Inc. has a twelve month low of $36.64 and a twelve month high of $48.49. The company has a quick ratio of 1.30, a current ratio of 1.61 and a debt-to-equity ratio of 0.89. The company has a market cap of $6.51 billion, a P/E ratio of 20.65 and a beta of 0.45.

American Campus Communities (NYSE:ACC) last released its quarterly earnings data on Monday, April 22nd. The real estate investment trust reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The company had revenue of $242.10 million during the quarter, compared to the consensus estimate of $226.72 million. American Campus Communities had a return on equity of 3.21% and a net margin of 13.39%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 EPS. As a group, analysts anticipate that American Campus Communities, Inc. will post 2.42 earnings per share for the current fiscal year.

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About American Campus Communities

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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