American Campus Communities (ACC) was Reiterated by Canaccord Genuity to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 56 from a previous price target of $49 . Canaccord Genuity advised their investors in a research report released on Jul 11, 2016.
Many Wall Street Analysts have commented on American Campus Communities. Company shares were Reiterated by Canaccord Genuity on Jul 11, 2016 to “Buy”, Firm has raised the Price Target to $ 56 from a previous price target of $49 .FBR Capital Initiated American Campus Communities on Jun 23, 2016 to “Outperform”, Price Target of the shares are set at $54.
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 $52.44 and hit $52.65 on the upside on Friday, eventually ending the session at $52.43, with a gain of 0.65% or 0.34 points. The heightened volatility saw the trading volume jump to 8,28,198 shares. Company has a market cap of $6,839 M.
In a different news, on Jun 30, 2016, James E Iii Wilhelm (EVP PublicPrivate Transactions) sold 1,150 shares at $51.51 per share price. According to the SEC, on Jun 23, 2016, Daniel Perry (EVP, Cap. Mkts. & Corp. Fin.) sold 4,096 shares at $49.05 per share price. On May 10, 2016, Edward Lowenthal (director) sold 2,000 shares at $48.21 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.