American Campus Communities Q3 FFO Rises - Quick Facts

(RTTNews) - American Campus Communities, Inc. (ACC) Monday reported third-quarter funds from operations, or FFO, of $39.9 million or $0.37 per share, up from $28.9 million or $0.32 per share in the same period last year.

FFOM for the quarter increased to 41.5 million or $0.39 per share from $29.4 million or $0.32 per share last year. Adjusted FFOM for the quarter was $34.1 million or $0.38 per share.

On average, 11 analysts polled by Thomson Reuters expected the company to report FFO of $0.43 per share for the quarter. Analysts' estimates typically exclude special items.

Net income attributable to American Campus was $47.18 million or $0.45 per share, compared to $627 thousand last year. Revenues increased 41 percent to $159.0 million from $112.8 million last year. Analysts expected revenues of $161.42 million.

Looking ahead, based upon Fall 2013 same store wholly-owned portfolio occupancy of 96.7 percent, the management currently projects full-year 2013 FFO and FFOM in the lower half of the current guidance range of $2.20 to $2.26 per share. Analysts currently expect full-year FFO of $2.23 per share.