B.Riley FBR Thinks American Campus’ Stock is Going to Recover

By Carrie Williams

In a report released yesterday, David Corak from B.Riley FBR assigned a Buy rating to American Campus (NYSE: ACC), with a price target of $56. The company’s shares closed yesterday at $42.69, close to its 52-week low of $41.06.

Corak commented:

“We met with American Campus Communities’ (Buy; $56.00 PT) management on Tuesday, November 14th, at 9:30 am Central at the 2017 NAREIT Investor Conference. Below are the takeaways from the meeting.”

According to TipRanks.com, Corak is a 3-star analyst with an average return of 2.4% and a 56.4% success rate. Corak covers the Financial sector, focusing on stocks such as National Storage Affiliates Trust, Preferred Apartment Communities, and NorthStar Realty Europe Corp.

Currently, the analyst consensus on American Campus is Strong Buy and the average price target is $50.40, representing a 18.1% upside.

In a report issued on October 30, Robert W. Baird also reiterated a Buy rating on the stock with a $47 price target.

American Campus’ market cap is currently $5.82B and has a P/E ratio of 104.12. The company has a book value ratio of 1.6624.

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American Campus Communities, Inc. engages in the development, owning, and managing student housing communities. It operates through the following segments: Wholly-Owned Properties, On-Campus Participating Properties, Development Services, and Property Management Services.