American Campus Communities, Inc.NYSE
Tue, Nov. 15, 4:07 PM
- The 19 properties totaled more than 12K beds, and the sale price of $508M represents an average cap rate of 6.1%.
- Adding this sale to two other dispositions earlier this year, ACC has completed $582M of non-core sales in 2016, with capital to be redirected into the $603M development pipeline.
- Two other non-core properties are still on the block.
Mon, Nov. 14, 10:03 AM
- The bond market was closed on Friday, keeping rates in check and allowing REITs a respite from the week's bout of selling. The respite was short-lived though, with the selloff resuming this morning as the 10-year Treasury yield jumps 10 basis points to 2.255%.
- Realty Income (O -1.5%), Public Storage (PSA -1.3%), Welltower (HCN -0.6%), Equity Residential (AVB -1.6%), AvalonBay (AVB -1.6%), Simon Property (SPG -1.5%), Kimco (KIM -0.5%), Eastgroup (EGP -0.5%), American Campus (ACC -1.7%).
- Fading the action are some office REITs as players eye a big boost in government spending: Government Properties (GOV +1.6%), Boston Properties (BXP +1%), First Potomac (FPO +1.2%).
- Also fading the negativity despite the stronger dollar are the previously very roughed-up lodging REITs as perhaps they discount a stronger economy: Ashford Hospitality (AHT +3.7%), Sunstone Hotel (SHO +3.2%), LaSalle Hotel (LHO +2.2%), Pebblebrook Realty (PEB +3.7%), Summit Hotel (INN +1.6%), Hospitality Properties (HPT +1.2%), RLJ Lodging (RLJ +2.8%)
- Previously: "Bond vigilantes" term comes out of retirement (Nov. 14)
- ETFs: VNQ, IYR, DRN, RQI, URE, SCHH, ICF, RWR, SRS, RNP, RFI, JRS, KBWY, NRO, DRV, RIT, RIF
Thu, Nov. 3, 9:13 AM
Mon, Oct. 24, 4:03 PM
Sun, Oct. 23, 5:35 PM
Wed, Sep. 28, 9:51 AM
Tue, Sep. 27, 7:45 AM
- As of Sept. 26, the 2017 same-store wholly-owned portfolio (excludes 19 assets held for sale) was 97.3 leased vs. 97.0% leased at the same point a year ago. The projected rental rate increase is 3.5%.
- As for those 19 assets on the block, a buyer has been identified and a LOI executed. ACC hopes to have a formal agreement in place during Q4.
Wed, Aug. 3, 5:37 PM
Mon, Jul. 25, 4:18 PM
- Q2 FFO modified of $72.2M or $0.54 per share vs. $65.2M and $0.57 one year ago.
- Same-store wholly-owned NOI up 2.5% Y/Y, with revenue up 2.5% and operating expenses higher by 2.4%.
- Same-store wholly-owned occupancy of 92.6% down 40 bps Y/Y.
- Full-year outlook is revised higher to FFO of $2.25-$2.36 per share and FFOM of $2.19-$2.31.
- Earnings call tomorrow at 10 ET
- Previously: American Campus Communities beats by $0.02, misses on wholly owned properties revenue (July 25)
- ACC flat after hours
Mon, Jul. 25, 4:05 PM
Sun, Jul. 24, 5:35 PM
Mon, Jul. 18, 9:52 AM
- The sector's had a nice run this year as, once again, higher interest rates have failed to materialize. A number of sell-siders are heading to the sidelines today on selected names today.
- JMP Securities downgrades American Campus Communities (ACC) to Market Perform from Outperform. Citigroup downgrades Aimco (AIV -0.7%) to Neutral from Buy. Mizuho cuts LTC Properties (LTC -1.4%) to Neutral from Buy. Capital One downgrades Stag Industrial (STAG -0.7%) to Equal Weight from Overweight. Deutsche cuts Urstadt Biddle Properties (UBA -0.8%) to Hold from Buy.
Mon, Jul. 11, 7:28 AM
- Citing expectations for investors to continue rotating out of large-cap multifamily stocks, and into student housing, Canaccord's Ryan Meliker lifts his price target on American Campus (NYSE:ACC) to $56 from $49. The Buy rating stays.
- ACC has been on a big run, up more than 60% since Labor Day. The new PT suggests another 7% upside.
Thu, Jun. 23, 10:18 AM
- The team is a fan of both American Campus Communities (ACC +0.6%) and Education Realty Trust (EDR +1.1%), initiating each with Outperform ratings. The $54 price target on ACC suggests 10% upside, and the $48 price target on EDR about the same.
- In self-storage, CubeSmart (CUBE +0.1%) rates an Outperform with $35 price target (about 18% upside), while sector giant Public Storage (PSA +0.2%) is Market Perform with $250 price target (vs. current $240.73).
Mon, Jun. 6, 4:15 PM
- As of June 3, the company's same-store wholly-owned portfolio was 92% applied for and 85.8% leased vs. 92.2% and 85.6%, respectively a year ago. The projected retnal rate increase is 3%.
- Excluding non-core assets which are targeted for sale, the portfolio is 87.9% leased vs. 86.5% a year ago.
- ACC was also the recent receipient of a ratings upgrade to Baa2 from Baa3 at Moody's.
Wed, May 4, 5:46 PM
- American Campus Communities (NYSE:ACC) declares $0.42/share quarterly dividend, 5% increase from prior dividend of $0.40.
- Forward yield 3.64%
- Payable May 27; for shareholders of record May 16; ex-div May 12.