American Campus Communities (ACC) was Initiated by FBR Capital to “Outperform” and the brokerage firm has set the Price Target at $54. FBR Capital advised their investors in a research report released on Jun 23, 2016.
On the company’s financial health, American Campus Communities reported $0.62 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 25, 2016. Analyst had a consensus of $0.63. The company had revenue of $200.00 million for the quarter, compared to analysts expectations of $197.81 million. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS.
American Campus Communities opened for trading at $48.3 and hit $49.11 on the upside on Tuesday, eventually ending the session at $49.09, with a gain of 1.64% or 0.79 points. The heightened volatility saw the trading volume jump to 6,03,797 shares. Company has a market cap of $6,403 M.
In a different news, on May 10, 2016, Edward Lowenthal (director) sold 2,000 shares at $48.21 per share price. According to the SEC, on Apr 7, 2016, William W. Talbot (EVP, Chief Investment Officer) sold 5,435 shares at $46.00 per share price. On Apr 7, 2016, Dennis G Lopez (director) sold 1,856 shares at $46.08 per share price, according to the Form-4 filing with the securities and exchange commission.
American Campus Communities Inc. is a real estate investment trust (REIT). The Company holds an approximate 98.8% limited partnership interest in American Campus Communities Operating Partnership L.P. The Company owns manages and develops student housing properties in the United States in terms of beds owned and under management. It is a self-managed and self-administered equity REIT engaged in the acquisition design financing development construction management leasing and management of student housing properties. The Companys total owned and third-party managed portfolio includes approximately 204 properties with 130700 beds in 44300 units. Its property portfolio consists of approximately 145 owned off-campus student housing properties. It operates under four segments: Wholly-Owned Properties On-Campus Participating Properties Development Services and Property Management Services.