KeyBanc Downgrades American Campus Communities (ACC) to Hold; Valuation Call
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Price: $65.42 --0%
Rating Summary:
10 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
10 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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KeyBanc downgraded American Campus Communities (NYSE: ACC) from Buy to Hold.
KeyBanc analyst says, "With the stock now trading at a 4.8% implied cap rate, we suspect the Company’s estimates and valuation now fairly reflect its current growth prospects. We continue to like ACC’s steady internal growth and strong external growth opportunities, especially in on-campus development that is accretive to earnings and NAV; we could see ACC announce a new large on-campus development similar to the recent deal inked by EDR and the University of Kentucky. However, that story is likely understood by the market by now, and the Kentucky announcement likely drove the recent 304 bps of outperformance in the stock."
For an analyst ratings summary and ratings history on American Campus Communities click here. For more ratings news on American Campus Communities click here.
Shares of American Campus Communities closed at $42.01 yesterday.
KeyBanc analyst says, "With the stock now trading at a 4.8% implied cap rate, we suspect the Company’s estimates and valuation now fairly reflect its current growth prospects. We continue to like ACC’s steady internal growth and strong external growth opportunities, especially in on-campus development that is accretive to earnings and NAV; we could see ACC announce a new large on-campus development similar to the recent deal inked by EDR and the University of Kentucky. However, that story is likely understood by the market by now, and the Kentucky announcement likely drove the recent 304 bps of outperformance in the stock."
For an analyst ratings summary and ratings history on American Campus Communities click here. For more ratings news on American Campus Communities click here.
Shares of American Campus Communities closed at $42.01 yesterday.
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