Activist turns up pressure on Campus Crest after dividend suspension; shares up 5.9%

• "Student housing is a unique asset class that requires very hands on management and expertise," says Andrew Stark, CEO of Campus Evolution Villages, which - together with investor Clinton Group - is angling to take over Campus Crest Communities (CCG +5.9%). "We believe bringing [our] management philosophy to Campus Crest will enable us to right the ship and create shareholder value."
• "The dividend cut is disappointing especially in light f the board's ongoing process to sell the company," says Clinton Group's Joseph De Perio.
• Source: Press release
• Previously: Activist investor nominates four for Campus Crest board (Dec. 5, 2014)
• Previously: Under activist pressure, Campus Crest exploring strategic alternatives (Feb. 17)