Palisade Capital Management LLC NJ Makes New $260,000 Investment in American Campus Communities, Inc. (NYSE:ACC)

Palisade Capital Management LLC NJ bought a new position in American Campus Communities, Inc. (NYSE:ACCGet Rating) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,637 shares of the real estate investment trust’s stock, valued at approximately $260,000.

Several other hedge funds also recently bought and sold shares of the company. Sageworth Trust Co of South Dakota acquired a new stake in shares of American Campus Communities during the fourth quarter worth $34,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of American Campus Communities during the first quarter worth $40,000. Montag A & Associates Inc. acquired a new stake in shares of American Campus Communities during the fourth quarter worth $46,000. UMB Bank N A MO acquired a new stake in shares of American Campus Communities during the fourth quarter worth $62,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of American Campus Communities during the fourth quarter worth $75,000. 97.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ACC has been the topic of a number of research analyst reports. StockNews.com lowered shares of American Campus Communities from a “hold” rating to a “sell” rating in a report on Friday, June 3rd. Citigroup lowered shares of American Campus Communities from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 20th. Argus lowered shares of American Campus Communities from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. Piper Sandler lowered shares of American Campus Communities from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $65.00 to $65.50 in a research note on Wednesday, April 20th. Finally, Capital One Financial lowered shares of American Campus Communities from an “overweight” rating to an “equal weight” rating and set a $65.47 price target on the stock. in a research note on Tuesday, April 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $61.59.

American Campus Communities Stock Performance

Shares of ACC opened at $65.40 on Friday. The firm has a 50-day moving average of $64.86 and a 200-day moving average of $59.85. American Campus Communities, Inc. has a one year low of $48.01 and a one year high of $65.43. The company has a market cap of $9.12 billion, a PE ratio of 130.80 and a beta of 0.75. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.02 and a quick ratio of 2.18.

Insider Activity

In other news, CEO William C. Bayless, Jr. sold 24,998 shares of American Campus Communities stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $64.98, for a total value of $1,624,370.04. Following the completion of the transaction, the chief executive officer now owns 314,566 shares of the company’s stock, valued at approximately $20,440,498.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.92% of the company’s stock.

American Campus Communities Company Profile

(Get Rating)

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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