American Campus Communities (ACC) Misses Q1 FFO by 1c, Affirms FY Guidance
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American Campus Communities, Inc. Reports First Quarter 2016 Financial Results
April 25, 2016 4:01 PM EDTAUSTIN, Texas--(BUSINESS WIRE)-- American Campus Communities, Inc. (NYSE: ACC) today announced the following financial results for the quarter ended March 31, 2016.
Highlights
Achieved quarterly FFOM of $78.2 million or $0.62 per fully diluted share compared to $76.1 million or $0.67 per fully diluted share in the first quarter prior year. Increased same store wholly-owned net operating income ("NOI") 2.5 percent over the first quarter 2015 with revenues increasing 2.3 percent and operating expenses increasing 2.1 percent. Achieved same store wholly-owned average physical occupancy of 97.4 percent for the first quarter 2016... More