Sumitomo Mitsui Asset Management Company LTD cut its holdings in shares of American Campus Communities, Inc. (NYSE:ACC) by 65.1% during the first quarter, Holdings Channel reports. The fund owned 44,929 shares of the real estate investment trust’s stock after selling 83,825 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in American Campus Communities were worth $2,137,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in American Campus Communities by 97.5% during the 1st quarter. Parallel Advisors LLC now owns 630 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 311 shares in the last quarter. Pinnacle Bank acquired a new position in American Campus Communities during the 4th quarter worth $31,000. We Are One Seven LLC acquired a new position in American Campus Communities during the 4th quarter worth $32,000. Cutler Group LP lifted its holdings in American Campus Communities by 476.2% during the 4th quarter. Cutler Group LP now owns 790 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 1,000 shares in the last quarter. Finally, JOYN Advisors Inc. lifted its holdings in American Campus Communities by 143.9% during the 4th quarter. JOYN Advisors Inc. now owns 912 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 538 shares in the last quarter. Institutional investors and hedge funds own 96.85% of the company’s stock.
Shares of ACC stock traded down $0.25 during trading hours on Monday, reaching $46.42. The company had a trading volume of 4,877 shares, compared to its average volume of 767,617. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.89. The company has a market cap of $6.40 billion, a P/E ratio of 20.10 and a beta of 0.44. American Campus Communities, Inc. has a 1-year low of $36.64 and a 1-year high of $48.49.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 13th will be given a $0.47 dividend. The ex-dividend date is Friday, May 10th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.05%. This is a boost from American Campus Communities’s previous quarterly dividend of $0.46. American Campus Communities’s dividend payout ratio is currently 81.39%.
A number of research firms have recently weighed in on ACC. Zacks Investment Research downgraded American Campus Communities from a “hold” rating to a “sell” rating in a research note on Monday, March 25th. KeyCorp increased their price target on American Campus Communities from $47.00 to $50.00 and gave the company 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $46.90.
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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