American Campus Communities Inc (ACC) Sets New 1-Year Low After Analyst Downgrade

American Campus Communities Inc (NYSE:ACC)’s share price reached a new 52-week low during mid-day trading on Tuesday after Robert W. Baird lowered their price target on the stock from $51.00 to $47.00. Robert W. Baird currently has an outperform rating on the stock. American Campus Communities traded as low as $41.27 and last traded at $41.29, with a volume of 242,398 shares changing hands. The stock had previously closed at $41.44.

A number of other brokerages have also recently commented on ACC. BidaskClub cut shares of American Campus Communities from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. 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 lowered American Campus Communities from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Canaccord Genuity reiterated a “buy” rating and set a $56.00 target price on shares of American Campus Communities in a research report on Monday, July 24th. Finally, Sandler O’Neill lowered American Campus Communities from a “buy” rating to a “hold” rating and decreased their target price for the company from $55.00 to $50.00 in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. American Campus Communities presently has a consensus rating of “Buy” and a consensus target price of $51.75.

A number of hedge funds and other institutional investors have recently modified their holdings of ACC. Raymond James Trust N.A. increased its holdings in shares of American Campus Communities by 6.6% in the second 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 period. Garner Asset Management Corp acquired a new position in shares of American Campus Communities in the second quarter valued at approximately $247,000. Stifel Financial Corp increased its holdings in shares of American Campus Communities by 5.6% in the first quarter. Stifel Financial Corp now owns 5,769 shares of the real estate investment trust’s stock valued at $277,000 after purchasing an additional 308 shares during the period. Bridgewater Wealth & Financial Management LLC increased its holdings in shares of American Campus Communities by 1.3% in the second 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 period. Finally, Verition Fund Management LLC acquired a new position in shares of American Campus Communities in the second quarter valued at approximately $282,000.

The company has a market cap of $5.63 billion, a price-to-earnings ratio of 85.23 and a beta of 0.26. The stock’s 50-day moving average price is $45.13 and its 200-day moving average price is $46.87.

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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.

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