American Campus Communities Earnings: Here’s Why Shares are Up Now
American Campus Communities Inc. (NYSE:ACC) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.07%.
American Campus Communities Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 16.36% to $0.64 in the quarter versus EPS of $0.55 in the year-earlier quarter.
Revenue: Rose 49.13% to $165.64 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: American Campus Communities Inc. reported adjusted EPS income of $0.64 per share. By that measure, the company missed the mean analyst estimate of $0.64. It beat the average revenue estimate of $159.4 million.
Quoting Management: “With the completion of our debut bond offering as the industry’s only investment grade rated company and being named one of America’s Top 100 Most Trustworthy Companies by Forbes, we continue to establish American Campus as the best-in-class company in our sector,” said Bill Bayless, American Campus CEO. “Furthermore, our FFOM per share growth of 16.4 percent this quarter over last year on the heels of integrating $2.2 billion in growth assets sets the stage for continued value creation for our shareholders while delivering exceptional service to our students, parents, and university customers.”
Key Stats (on next page)…