American Campus Communities, Inc. Reports First Quarter 2021 Financial Results
American Campus Communities Inc (ACC)
Last american campus communities inc earnings: 4/20 04:15 pm
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US:NYSE Investor Relations:
ir.americancampus.com
Company Research
Source: Business Wire
AUSTIN, Texas--(BUSINESS WIRE)--American Campus Communities, Inc. (NYSE:ACC) today announced the following financial results for the quarter ended March 31, 2021.HighlightsReported net income attributable to ACC of $15.6 million or $0.11 per fully diluted share, versus $80.9 million or $0.58 per fully diluted share in the first quarter 2020.Reported FFOM of $79.5 million or $0.57 per fully diluted share, versus $97.6 million or $0.70 per fully diluted share in the first quarter prior year.Same store net operating income (“NOI”) decreased by 11.0 percent versus the first quarter prior year, as the COVID-19 impacts on the current academic year’s occupancy levels resulted in a 6.4 percent decrease in revenues and only a 0.5 percent increase in operating expenses.Awarded a third-party on-campus development project at Drexel University for the renovation of Kelly Hall, a 1960s-era community-bath residence hall.Commenced construction on a third-party on-campus development project at Con
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