American Campus Communities (ACC) Tops Q1 FFO by 1c

American Campus Communities (NYSE: ACC) reported Q1 FFO of $0.66, $0.01 better than the analyst estimate of $0.65. Revenue for the quarter came in at $183.18 million versus the consensus estimate of $174.28 million.

Same store wholly-owned net operating income ("NOI") decreased 0.9 percent over the first quarter 2013 with revenues increasing 0.6 percent and operating expenses increasing 2.6 percent. Excluding $1.8 million in additional utility costs associated with an unusually cold winter, same store wholly-owned operating expenses would have decreased 0.1 percent.

American Campus Communities reaffirmed FY2014 guidance.

For earnings history and earnings-related data on American Campus Communities (ACC) click here.

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