American Campus Communities (NYSE:ACC) Updates FY19 Earnings Guidance

American Campus Communities (NYSE:ACC) updated its FY19 earnings guidance on Monday. The company provided earnings per share guidance of $2.40-2.44 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.43. American Campus Communities also updated its FY 2019 guidance to $2.40-2.44 EPS.

A number of brokerages have recently issued reports on ACC. ValuEngine cut shares of American Campus Communities from a buy rating to a hold rating in a research note on Thursday, August 1st. TheStreet cut shares of American Campus Communities from a b- rating to a c rating in a research note on Monday, July 22nd. Zacks Investment Research cut shares of American Campus Communities from a buy rating to a hold rating in a research note on Tuesday, October 8th. Argus upgraded shares of American Campus Communities from a hold rating to a buy rating and set a $53.00 price objective for the company in a research note on Wednesday, July 31st. Finally, Capital One Financial upgraded shares of American Campus Communities from an equal weight rating to an overweight rating in a research report on Monday, July 8th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $50.60.

Shares of American Campus Communities stock traded up $0.40 during mid-day trading on Monday, reaching $49.57. 555,837 shares of the stock were exchanged, compared to its average volume of 714,207. The company has a market cap of $6.78 billion, a price-to-earnings ratio of 21.46 and a beta of 0.37. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.94. The firm has a 50-day simple moving average of $47.81 and a 200 day simple moving average of $47.27. American Campus Communities has a fifty-two week low of $38.40 and a fifty-two week high of $49.71.

American Campus Communities (NYSE:ACC) last announced its earnings results on Monday, July 22nd. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. The business had revenue of $203.20 million during the quarter, compared to analysts’ expectations of $206.82 million. American Campus Communities had a net margin of 9.27% and a return on equity of 2.05%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $0.52 EPS. On average, research analysts predict that American Campus Communities will post 2.42 EPS for the current fiscal year.

In related news, Director Oliver Luck sold 12,216 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $48.05, for a total transaction of $586,978.80. Following the completion of the sale, the director now owns 4,647 shares in the company, valued at approximately $223,288.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.75% of the company’s stock.

About American Campus Communities

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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