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March 11, 2013
12:30 EDTACCAmerican Campus in pacts for up to $500M of common stock
On March 8, American Campus Communities, American Campus Communities Operating Partnership LP, a Maryland limited partnership and American Campus Communities Holding, a Maryland limited liability company, entered into four separate Equity Distribution Agreements with Merrill Lynch, Pierce, Fenner & Smith Incorporated, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and KeyBanc Capital Markets Inc., as sales agents and/or principals pursuant to which the Company created an at-the-market equity program under which it may sell its common stock with an aggregate offering price of up to $500M from time to time through the Agents. Under the Agreements, each of the Agents will be entitled to a commission that will not exceed, but may be lower than, 2% of the gross offering proceeds of any Shares sold through it.
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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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