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Fri, Oct. 24, 8:34 AM
- Education Realty Trust (NYSE:EDR) is boosted to a Buy from Hold at MLV & Co., while American Campus Communities (NYSE:ACC) is downgraded to Hold from Buy.
- American Campus' Q3 beat estimates earlier this week and the company provided strong guidance, but the stock has failed to advance, perhaps suggesting to the MLV team the shares need a breather after a 20% gain this year. Of course, EDR is ahead 25% this year.
Tue, Oct. 21, 5:05 PM
- Q3 FFOM (funds from operations - modified) of $46.5M or $0.44 per share vs. $41.5M and $0.39 one year ago.
- NOI for same store wholly-owned properties of $65.3M up 5.6% Y/Y. Occupancy of 97.5% up 70 basis points, with an average rental rate increase of 2.1%.
- Company sees hitting the high end of its previously full-year guidance of FFO of $2.34-$2.41 and FFOM of $2.29-$2.37 per share.
- Conference call tomorrow at 10 ET
- Previously: American Campus Communities beats by $0.01, beats on revenue
- ACC unchanged AH
Tue, Oct. 21, 4:32 PM| Comment!
Mon, Oct. 20, 5:35 PM
Tue, Sep. 30, 7:52 AM
- As of yesterday, the Q4 same-store properties are 97.5% leased (above the mid-point of previous guidance), with a projected 2.1% projected rental rate increase. One year ago, they were 96.8% leased. Total new store properties are leased to 98.5%. The combined portfolio is 97.5% leased.
- ACC expects same-store NOI growth in excess of 3% for the 2014-2015 school year.
- Source: Press Release
- Presentation slide
Thu, Sep. 18, 2:50 PM
- Although all three - American Campus Communities (ACC -1.3%), Campus Crest Communities (CCG -1.2%), and Education Realty Trust (EDR -1.1%) - have performed broadly in line with the broad REIT universe, the trio consistently score low in the Markit REIT model.
- Said model ranks REITs on things like balance sheet strength, operational strategy, and price momentum, and those ranking near the bottom have underperformed the REIT sector by more than 25% over the past five years. CCG and EDR have typically been in the worst-ranked group, and ACC has recently joined them, mostly thanks to the stock price's premium to NAV.
- Another red flag (or buying signal depending on how you look at it): The shorts are circling, with short interest up 41% YTD, particularly at EDR, where the ratio of shares on loan has jumped six-fold this year as of the end of July.
Thu, Jul. 31, 1:11 PM| Comment!
Tue, Jul. 22, 4:29 PM| Comment!
Mon, Jul. 21, 5:35 PM
Wed, Jun. 18, 10:55 AM
- American Campus Communities (ACC +0.1%) sells $400M of 10-year senior unsecured notes priced to yield just over 4.125%. Net proceeds of about $395.3M will be used to pay off the outstanding balance on its credit line, and to fund the current development pipeline and potential acquisitions.
- Source: Press Release
Thu, May. 1, 5:30 PM| Comment!
Tue, Apr. 22, 4:25 PM| Comment!
Tue, Apr. 22, 12:10 AM
Mon, Apr. 21, 5:35 PM
Wed, Feb. 12, 4:03 PM| Comment!
Wed, Feb. 12, 12:10 AM
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American Campus Communities Inc is a real estate investment trust (REIT). The Company is the owner, manager and developer of high quality student housing properties in the United States in terms of beds owned, developed, and under management.
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