Free Post Earnings Research Report: American Campus Communities’ Revenues Jumped 12%

Stock Monitor: Equity LifeStyle Properties Post Earnings Reporting

LONDON, UK / ACCESSWIRE / July 31, 2018 / If you want access to our free earnings report on American Campus Communities, Inc. (NYSE: ACC) (“ACC”), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ACC. The Company reported its second quarter fiscal 2018 operating and financial results on July 23, 2018. The real estate investment trust (REIT), which is based in Austin, Texas, surpassed revenue estimates, and also provided its guidance for FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for Equity LifeStyle Properties, Inc. (NYSE: ELS), which also belongs to the Financial sector as the Company American Campus Communities. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=ELS

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, American Campus Communities most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=ACC

Earnings Highlights and Summary

For the second quarter of the fiscal year 2018, ACC’s revenues totaled $201.1 million versus $179.0 million in Q2 2017, and were ahead of analysts’ estimates by $0.71 million. The Company’s operating income totaled $30.9 million in the reported quarter compared to $12.6 million in the prior year’s same quarter. The increase in the Company’s revenues and operating income was primarily due to increased rental rates for the 2017-2018 academic year, development properties completed in 2017, and property acquisitions completed in 2017.

For Q2 2018, ACC’s net income totaled $46.0 million, or $0.33 per fully diluted share, compared to a net loss of $2.8 million, or $0.02 loss per fully diluted share, in Q2 2017. The increase in the Company’s net income versus the prior year’s comparable quarter was primarily due to a gain of $42.3 million from the disposition of real estate in Q2 2018, and the increases in revenues and operating income.

ACC’s funds from operations (FFO) totaled $65.7 million, or $0.47 per diluted share, in Q2 2018 compared to $68.5 million, or $0.50 per diluted share, in Q2 2017. The Company’s FFO-modified (FFOM) was $72.6 million, or $0.52 per diluted share, in the reported quarter compared to $72.8 million, or $0.53 per diluted share, in the year ago corresponding period. ACC’s FFO numbers lagged Wall Street’s estimates of $0.52 per share.

During Q2 2018, ACC’s net operating income (NOI) for same-store properties was $90.8 million, reflecting an increase of 0.1% from Q2 2017. The Company’s same-store property revenues increased by 1.5% y-o-y due to an increase in average rental rates for the 2017-2018 academic year.

ACC’s NOI for the total portfolio was $104.1 million in Q2 2018 versus $94.7 million in Q2 2017, representing an increase of $9.4 million.

Portfolio Update

Developments – ACC noted that it continues to progress on the construction of its 15 owned development and presale development projects, with expected deliveries in Fall 2018 and 2019. The developments total approximately $1.1 billion and are all core Class A assets located on, or pedestrian to, campus in their respective markets. The projects average less than one-tenth of a mile to campus and remain on track to achieve stabilized development yields in the range of 6.25% – 7.0% for developments, and 5.7% – 6.25% for presale developments.

Third-Party Services – During Q2 2018, ACC closed on financing and commenced construction on a third-party on-campus development project with Delaware State University. The Company expects to earn $2.5 million in fees throughout the construction period and expects to provide management services upon the opening of the community in Fall 2019.

Capital Markets – For Q2 2018, ACC placed $330 million of secured mortgage debt on the newly formed joint venture portfolio with a coupon of 4.07%, and the full amount of principal due at maturity in June 2028. Total gross proceeds from the sales transactions in the reported quarter, including the mortgage debt placed on the joint venture portfolio and the prepayment of existing secured mortgage debt, totaled approximately $750 million. The proceeds were used to repay a $300 million term loan scheduled to mature in 2018; a $150 million term loan scheduled to mature in 2021; and a portion of the outstanding balance on the Company’s revolving credit facility.

Outlook

For FY18, ACC is forecasting FFO per diluted share to be in the range of $2.40 to $2.46, and FFOM per diluted share to be in the band of $2.28 to $2.34.

Stock Performance Snapshot

July 30, 2018 – At Monday’s closing bell, American Campus Communities’ stock marginally advanced 0.07%, ending the trading session at $40.71.

Volume traded for the day: 947.57 thousand shares, which was above the 3-month average volume of 922.12 thousand shares.

Stock performance in the previous three-month period – up 4.09%; and past six-month period – up 5.36%

After yesterday’s close, American Campus Communities’ market cap was at $5.59 billion.

Price to Earnings (P/E) ratio was at 72.18.

The stock has a dividend yield of 4.52%.

The stock is part of the Financial sector, categorized under the REIT – Residential industry.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third-party research service company (the “Reviewer”) represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

SOURCE: Active-Investors

ReleaseID: 507458