An Insider’s Bet on American Campus Communities (ACC)

On Jan. 16th, Albert Jonathan Graf, Executive Vice President and Chief Financial Officer at American Campus Communities, Inc. (NYSE:ACC), acquired 500 shares of Common Stock. In two separate transactions, the insider paid $33.35 per share. He bought 250 shares for his direct holdings and another 250 for his Spouse and Dependent IRA’s. After the reported transactions, he directly owns 79,541 shares, and indirectly holds another 2,350.

American Campus Communities, Inc.

American Campus Communities, Inc. (NYSE:ACC) is a real estate investment trust focused on high quality student housing properties in the United States. Most analysts consider this company’s stock as a buy or strong buy case, even in spite of its below average margins and returns, and its valuation at 73 times its earnings, at more than 4 times its peers’ average. It seems like decent long-term EPS growth projections and a dividend yield that surpasses 4% of the current stock price make this stock an attractive investment option.

In fact, not only analysts and Mr. Graf are betting on American Campus Communities, Inc. (NYSE:ACC). Jeffrey Furber’s Aew Capital Management increased its stakes in the company by about 14% over the last reported quarter. The fund now holds 891,707 shares, valued at more than $31 million. Ken Fisher’s Fisher Asset Management, holds a much smaller stake, which amasses 45,900 shares as of December 31.

On the other hand, every one of the top five hedge fund bulls on American Campus Communities, Inc. (NYSE:ACC) –except for Aew Capital Management- reduced their stakes in the company by a substantial percentage. For instance, D. E. Shaw, the largest “hedgie” bull, last reported that it had diminished its participation in the company by 14%. The fund now owns 974,445 shares, which comprise 0.05% of its equity portfolio. The other three funds that fit this description are Glenn Russell Dubin´s Highbridge Capital Management, Jim Simons´ Renaissance Technologies, and Israel Englander´s Millennium Management (all of them reduced their stakes over the third quarter of 2013).

Disclosure: Javier Hasse holds no position in any stocks mentioned

Recommended Reading:

Five Interesting Insider Purchases From the Beginning of 2014

Both Insiders and Hedge Funds Seem to Love American Realty Capital Properties (ARCP)

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