American Campus upgraded to Buy from Neutral at Goldman Sachs » 05:1404/0204/02/20
Goldman Sachs analyst…
Goldman Sachs analyst Richard Skidmore upgraded American Campus Communities to Buy from Neutral with a price target of $38, down from $52. Historically, the company's earnings and rent growth have been more insulated to economic downturns than broader residential real estate investment trust peers, Skidmore tells investors in a research note. The analyst expects the same will be true in 2020 as students return to campus for the 2020/2021 school year and continue to need housing.
|Over a week ago|
American Campus sees Q1 in line with prior view, withdraws FY20 guidance » 17:2703/2603/26/20
The company continues…
The company continues construction on its owned development pipeline that includes $279.7M of deliveries in May through August 2020. At present, these projects remain on-time and on-budget and the company has not experienced supply chain disruption or labor shortages that would impact delivery. The company is staying abreast of the policies of our partner institutions and municipalities regarding access to development sites and inspections, which have been accessible and continue to date. Due to the evolving environment and uncertainties related to COVID-19, these circumstances are subject to change. Given the uncertain scope, duration and rapidly evolving nature of the economic impacts of the COVID-19 pandemic and the related university housing policy changes, the company is unable to fully determine or quantify the potential financial impact to its business at this time. The company currently expects first quarter 2020 results to be in-line with previously announced guidance; however, due to the current uncertainty surrounding the pandemic, the company is withdrawing its full year 2020 outlook and does not plan to provide an update to its full year 2020 outlook until there is further clarity on the impact of the pandemic.
American Campus upgraded to Outperform from In Line at Evercore ISI » 07:0603/2503/25/20
Evercore ISI upgraded…
Evercore ISI upgraded American Campus to Outperform from In Line with a price target of $37, down from $49.
American Campus provides update on COVID-19 » 16:2203/1203/12/20
American Campus Communities provided an update regarding the novel coronavirus. "As part of our commitment to the health and wellbeing of our residents, employees and university communities, we are closely monitoring the Centers for Disease Control and Prevention and World Health Organization statements regarding COVID-19 and are communicating the CDC hygiene and prevention guidelines to our residents and employees," said Bill Bayless, American Campus Communities CEO. "Colleges and universities are enacting a wide array of measures in response to COVID-19 and American Campus Communities is closely monitoring the actions and policy changes of each of the 93 universities we serve. Currently, we have not experienced any definitive negative impacts to our operating performance and are not revising our 2020 earnings guidance at this time. However, given the rapidly evolving environment, it is too soon to determine if there will ultimately be any financial impact to our business in 2020. At this point, our primary focus is on serving the needs of our student residents and partner universities to ensure that students continue to have housing in an environment conducive to academic success regardless of the curriculum delivery method." Specific to COVID-19, the company has assembled a task force charged with monitoring the evolving situation and coordinating ACC's actions and communications with employees, residents and university partners. At this time, our leasing activity for fall 2020 continues to be within our historical trend and at a pace consistent with our previously stated opening same store rental revenue growth range of 1.5 percent to 3.0 percent for the 2020-2021 academic year.
American Campus trading resumes 10:0403/1203/12/20
American Campus trading halted, volatility trading pause 09:5103/1203/12/20
American Campus management to meet with Benchmark » 04:5503/1203/12/20
Meeting to be held in New…
Meeting to be held in New York on March 12 hosted by Benchmark.
American Campus management to meet with Benchmark » 07:1303/1103/11/20
Meeting to be held in…
Meeting to be held in Boston on March 12 hosted by Benchmark.
|Over a month ago|
American Campus announces quarterly dividend of 47c per share » 14:0301/2001/20/20
American announced that…
American announced that on January 20, 2020 its Board of Directors declared a regular quarterly dividend of 47c per share of common stock, payable on February 14, 2020, to shareholders of record at the close of business on January 30, 2020.
|Over a quarter ago|
American Campus management to meet with Sandler ONeill » 04:5511/1211/12/19
Dinner Meeting to be held…
Dinner Meeting to be held in Los Angeles, CA on November 12 hosted by Sandler ONeill.