Zacks: Analysts Expect American Campus Communities, Inc. (ACC) Will Post Quarterly Sales of $210.64 Million

Wall Street analysts expect American Campus Communities, Inc. (NYSE:ACC) to report sales of $210.64 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for American Campus Communities’ earnings, with the highest sales estimate coming in at $212.73 million and the lowest estimate coming in at $208.56 million. American Campus Communities posted sales of $196.94 million in the same quarter last year, which would indicate a positive year over year growth rate of 7%. The firm is expected to announce its next quarterly earnings report after the market closes on Monday, October 22nd.

According to Zacks, analysts expect that American Campus Communities will report full-year sales of $870.24 million for the current fiscal year, with estimates ranging from $859.44 million to $884.33 million. For the next year, analysts expect that the business will post sales of $920.51 million, with estimates ranging from $892.20 million to $973.73 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow American Campus Communities.

American Campus Communities (NYSE:ACC) last issued its earnings results on Monday, July 23rd. The real estate investment trust reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.01). American Campus Communities had a return on equity of 3.29% and a net margin of 12.97%. The company had revenue of $190.20 million for the quarter, compared to the consensus estimate of $190.23 million. During the same quarter in the prior year, the company posted $0.53 EPS. American Campus Communities’s revenue was up 11.9% compared to the same quarter last year.

ACC has been the subject of a number of research reports. Argus lowered shares of American Campus Communities from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Zacks Investment Research upgraded shares of American Campus Communities from a “sell” rating to a “hold” rating in a research report on Friday, June 1st. Deutsche Bank increased their price objective on shares of American Campus Communities from $42.00 to $45.00 and gave the company a “hold” rating in a research report on Wednesday, September 5th. ValuEngine lowered shares of American Campus Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Finally, Bank of America upgraded shares of American Campus Communities from a “neutral” rating to a “buy” rating and increased their price objective for the company from $43.00 to $46.50 in a research report on Thursday, June 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. American Campus Communities currently has a consensus rating of “Hold” and a consensus target price of $45.75.

A number of hedge funds have recently added to or reduced their stakes in the business. Global X Management Co LLC lifted its position in American Campus Communities by 32.9% during the second quarter. Global X Management Co LLC now owns 5,762 shares of the real estate investment trust’s stock valued at $247,000 after purchasing an additional 1,427 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of American Campus Communities by 10.5% in the second quarter. California Public Employees Retirement System now owns 355,387 shares of the real estate investment trust’s stock valued at $15,239,000 after acquiring an additional 33,738 shares during the period. Qube Research & Technologies Ltd purchased a new stake in shares of American Campus Communities in the second quarter valued at $245,000. Sapience Investments LLC raised its stake in shares of American Campus Communities by 14.8% in the second quarter. Sapience Investments LLC now owns 57,270 shares of the real estate investment trust’s stock valued at $2,456,000 after acquiring an additional 7,370 shares during the period. Finally, Millennium Management LLC raised its stake in shares of American Campus Communities by 34.6% in the second quarter. Millennium Management LLC now owns 956,152 shares of the real estate investment trust’s stock valued at $41,000,000 after acquiring an additional 245,765 shares during the period. Institutional investors and hedge funds own 97.87% of the company’s stock.

Shares of NYSE:ACC traded up $0.18 during midday trading on Friday, reaching $41.27. 16,188 shares of the company were exchanged, compared to its average volume of 524,906. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.43 and a current ratio of 1.43. American Campus Communities has a one year low of $34.52 and a one year high of $45.74. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 17.92 and a beta of 0.15.

American Campus Communities Company 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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Earnings History and Estimates for American Campus Communities (NYSE:ACC)

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