American Campus Communities, Inc. (NYSE:ACC) Shares Acquired by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS grew its position in American Campus Communities, Inc. (NYSE:ACC) by 18.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,290 shares of the real estate investment trust’s stock after buying an additional 6,600 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in American Campus Communities were worth $2,033,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ACC. Nuveen Asset Management LLC grew its stake in shares of American Campus Communities by 98.6% in the second quarter. Nuveen Asset Management LLC now owns 2,272,646 shares of the real estate investment trust’s stock valued at $104,904,000 after buying an additional 1,128,050 shares in the last quarter. Strs Ohio grew its stake in American Campus Communities by 298.1% during the 3rd quarter. Strs Ohio now owns 729,196 shares of the real estate investment trust’s stock worth $35,059,000 after purchasing an additional 546,049 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in American Campus Communities by 7.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 7,426,127 shares of the real estate investment trust’s stock worth $342,790,000 after purchasing an additional 508,366 shares in the last quarter. Echo Street Capital Management LLC grew its stake in American Campus Communities by 159.0% during the 2nd quarter. Echo Street Capital Management LLC now owns 556,459 shares of the real estate investment trust’s stock worth $25,686,000 after purchasing an additional 341,630 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in American Campus Communities by 30.5% during the 2nd quarter. Bank of America Corp DE now owns 1,062,826 shares of the real estate investment trust’s stock worth $49,062,000 after purchasing an additional 248,673 shares in the last quarter. 95.57% of the stock is owned by institutional investors and hedge funds.

In other news, Director Oliver Luck sold 12,216 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $48.05, for a total value of $586,978.80. Following the completion of the sale, the director now directly owns 4,647 shares of the company’s stock, valued at approximately $223,288.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Cardenas Jorge De sold 9,788 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $50.06, for a total value of $489,987.28. Following the completion of the sale, the executive vice president now directly owns 31,978 shares of the company’s stock, valued at $1,600,818.68. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by insiders.

Shares of NYSE:ACC traded down $0.11 on Friday, hitting $47.11. 568,027 shares of the company’s stock were exchanged, compared to its average volume of 706,061. The firm’s 50-day moving average is $48.73 and its 200 day moving average is $47.42. The company has a market capitalization of $6.68 billion, a PE ratio of 20.39 and a beta of 0.36. American Campus Communities, Inc. has a 1-year low of $39.37 and a 1-year high of $50.94. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.46 and a current ratio of 1.31.

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American Campus Communities (NYSE:ACC) last released its quarterly earnings data on Monday, October 21st. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.32). American Campus Communities had a return on equity of 2.73% and a net margin of 11.55%. The business had revenue of $211.08 million for the quarter, compared to analyst estimates of $213.30 million. During the same period in the prior year, the company posted $0.44 earnings per share. The company’s revenue was up 4.1% compared to the same quarter last year. On average, analysts anticipate that American Campus Communities, Inc. will post 2.43 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 11th will be issued a $0.47 dividend. This is an increase from American Campus Communities’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend is Thursday, November 7th. American Campus Communities’s payout ratio is presently 81.39%.

Several research analysts recently commented on the company. Argus raised American Campus Communities from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Wednesday, July 31st. Goldman Sachs Group assumed coverage on American Campus Communities in a research note on Friday. They set a “neutral” rating and a $53.00 target price for the company. ValuEngine cut American Campus Communities from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. TheStreet cut American Campus Communities from a “b-” rating to a “c” rating in a research note on Monday, July 22nd. Finally, Zacks Investment Research cut American Campus Communities from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $51.00.

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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Institutional Ownership by Quarter for American Campus Communities (NYSE:ACC)

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