American Campus Communities Reports Q3 FFOM/shr Of $0.44 - Quick Facts

(RTTNews) - American Campus Communities, Inc. (ACC) reported a third-quarter net loss to company of $5.85 million, compared to profit of $47.18 million, last year. Net loss per share to stockholders was $0.06, compared to profit of $0.45, a year ago. The company said the decrease in earnings as compared to the prior year quarter is primarily due to the disposition of four properties in July 2013, which resulted in a gain of $52.8 million recognized during the third quarter 2013. Funds from operations increased to $45.69 million from $39.91 million.

FFO per share was $0.43, compared to $0.37, prior year. Funds from operations-modified (FFOM) per share was $0.44, compared to $0.39.

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

Total revenues increased to $181.94 million from $158.39 million. Analysts expected revenue of $170.51 million for the quarter.

The company believes that both 2014 FFO and FFOM are trending between the midpoint and the upper end of the current guidance ranges of $2.34 to $2.41 and $2.29 to $2.37 per share, respectively. Analysts expect the company to report 2014 profit per share of $2.36.