Posts for Ticker ‘ACC’

Top Pre-Market Analyst Upgrades (ACC, CLS, CHS, EL, JBLU, SLGN, TRMB)

These are some of the top pre-market analyst upgrades we are seeing this Friday-crash morning:

  • American Campus (ACC) Raised to Outperform at Baird.
  • Celestica (CLS) Raised to Outperform at CIBC.
  • Chico’s FAS (CHS) Raised to Market Weight at Thomas Weisel.
  • Estee Lauder (EL) Raised to Neutral from Sell at Piper Jaffray.
  • Jetblue (JBLU) Raised to Overweight at JPMorgan.
  • Silgan Holdings (SLGN) Raised to Buy at Deutsche Bank.
  • Trimble Navigation (TRMB) Raised to Outperform at Oppenheimer.

Jon C. Ogg
October 24, 2008

Posted on: October 24, 2008 – 7:05 am in Analyst Calls, , , , , , ,

American Campus Communities Rises On Share Sale (ACC)

American Campus Communities (NYSE: ACC) priced its public offering of 8 million shares of common stock at $28.75 per share.

The underwriters, Merrill Lynch, KeyBanc Capital Markets, Deutsche Bank Securities, and JP Morgan, are allotted an additional 1.2 million shares. The $230 million in proceeds for the student housing owner and manager will be used to pay for their purchase of rival GMH Communities Trust for $1.4 billion if the deal goes through. Should the deal fall through, the cash will be used to repay debt obligations, to fund pipeline development, or for potential acquisitions.

Prior to this offering, the market cap was listed as $816 million.  Shares are up about 2.5% to $29.83 today. The 52-week range is $23.18 to $31.68

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Rachel Lopez
April 18, 2008

Posted on: April 18, 2008 – 11:53 am in Secondary Offering,