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Fly News Breaks for July 31, 2019
ACC
Jul 31, 2019 | 07:56 EDT
Argus analyst Jacob Kilstein upgraded American Campus to Buy with a price target of $53 after its Q2 earnings beat, saying the direction on the REIT is positive given its property portfolio transformation, with "new projects for Disney and the University of California Riverside." The analyst notes that American Campus earnings multiple is near the midpoint of its 5-year historical range, but believes that the demand for high-quality student housing increasing and expected interest rate cuts from the Fed warrant an upgrade.
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