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Stock Market & Financial Investment News

News Breaks
February 12, 2013
16:09 EDTACCAmerican Campus sees FY13 FFOM $2.32-$2.42, consensus $2.39
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July 22, 2014
16:30 EDTACCAmerican Campus raises FY14 FFO view to $2.34-$2.41, consensus $2.35
The company is increasing its 2014 outlook to reflect management’s current expectations. Management now anticipates FY14 FFO $2.34-$2.41 and FFOM $2.29-$2.37. The increase primarily reflects the impact of the following items as compared to management’s initial 2014 guidance: (1) reduced interest expense as a result of both the effective interest rate and timing of the 2014 bond issuance partially offset by lower than anticipated capitalized interest on developments; (2) higher than expected net operating income during the first six months of 2014, primarily due to lower than expected operating expenses incurred year-to-date, partially offset by an increase in expected property tax expense; and (3) an increase in the company’s weighted average outstanding shares by 550,000 due to assumed activity under the ATM Share Offering Program through the remainder of 2014. The company is maintaining the leasing assumptions included in its initial 2014 guidance for an occupancy range of 96.0 – 98.0 percent and rental rate growth of 1.75%–2.25% for the 2014/2015 academic year.
16:28 EDTACCAmerican Campus reports Q2 FFO 58c, consensus 56c
Reports Q2 revenue $172.0M, consensus $164.17M.

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