American Campus Communities, Inc. Reports Third Quarter 2020 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
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Source: Business Wire
AUSTIN, Texas--(BUSINESS WIRE)--American Campus Communities, Inc. (NYSE:ACC) today announced the following financial results for the quarter ended September 30, 2020.Highlights Reported net loss attributable to ACC of $19.5 million or $0.15 per fully diluted share, versus net income of $20.2 million or $0.14 per fully diluted share in the third quarter 2019.Reported FFOM of $45.2 million or $0.32 per fully diluted share versus $64.1 million or $0.46 per fully diluted share for the third quarter prior year.Same store net operating income ("NOI") decreased by 14.0 percent versus the third quarter 2019, as revenues decreased 9.3 percent and operating expenses decreased 5.2 percent. Same store revenues were impacted by approximately $15.0 million of rent relief, lost revenues from summer camps and conferences, waived fees, increased uncollectible accounts primarily associated with previous academic year leases, and other COVID-19 related items. In addition, due to the decrease in occu
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