Shell Asset Management Co. Sells 1,277 Shares of American Campus Communities, Inc. (NYSE:ACC)

Shell Asset Management Co. cut its stake in American Campus Communities, Inc. (NYSE:ACC – Get Rating) by 12.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,618 shares of the real estate investment trust’s stock after selling 1,277 shares during the period. Shell Asset Management Co.’s holdings in American Campus Communities were worth $482,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sageworth Trust Co of South Dakota acquired a new position in shares of American Campus Communities in the 4th quarter worth approximately $34,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of American Campus Communities in the 1st quarter worth approximately $40,000. Montag A & Associates Inc. acquired a new position in shares of American Campus Communities in the 4th quarter worth approximately $46,000. UMB Bank N A MO acquired a new position in shares of American Campus Communities in the 4th quarter worth approximately $62,000. Finally, Acadian Asset Management LLC acquired a new position in shares of American Campus Communities in the 4th quarter worth approximately $75,000. 97.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at American Campus Communities

In other news, CEO William C. Bayless, Jr. sold 24,998 shares of the firm’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $64.98, for a total value of $1,624,370.04. Following the transaction, the chief executive officer now directly owns 314,566 shares in the company, valued at approximately $20,440,498.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.92% of the stock is owned by corporate insiders.

American Campus Communities Stock Up 0.1 %

Shares of ACC opened at $65.38 on Thursday. The firm has a market capitalization of $9.12 billion, a price-to-earnings ratio of 130.76 and a beta of 0.75. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.18 and a current ratio of 1.02. The business’s fifty day moving average price is $64.84 and its two-hundred day moving average price is $59.71. American Campus Communities, Inc. has a 52 week low of $48.01 and a 52 week high of $65.40.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Piper Sandler cut American Campus Communities from an “overweight” rating to a “neutral” rating and raised their price target for the company from $65.00 to $65.50 in a report on Wednesday, April 20th. Argus cut American Campus Communities from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th. StockNews.com cut American Campus Communities from a “hold” rating to a “sell” rating in a report on Friday, June 3rd. Citigroup cut American Campus Communities from a “buy” rating to a “neutral” rating in a report on Wednesday, April 20th. Finally, Capital One Financial lowered American Campus Communities from an “overweight” rating to an “equal weight” rating and set a $65.47 price objective on the stock. in a research report on Tuesday, April 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $61.59.

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.