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American Campus Communities (ACC) has partnered with goPuff to provide free delivery to residents in over 40 university markets until June 30, 2021. Students can order essentials like cleaning supplies, medicine, and food, with delivery promised in 30 minutes using a social media code. The initiative supports ACC’s COVID-19 safety program, “Be safe. Be smart. Do your part.” The collaboration aims to aid students adjusting to new academic environments while navigating pandemic challenges.
American Campus Communities (NYSE: ACC) has declared a quarterly dividend of $0.47 per share on January 18, 2021. The dividend is payable on February 19, 2021, to shareholders of record as of January 28, 2021. The company is the largest owner and manager of student housing properties in the U.S., managing a total of 204 properties with approximately 139,900 beds. With a fully integrated and self-administered equity REIT structure, ACC has strong capabilities in development and operational management.
American Campus Communities (ACC) announced that its LightView student housing community at Northeastern University has achieved LEED Platinum certification, the highest rating from the U.S. Green Building Council. This sustainable 310,000 sq. ft. facility will source 6,678,000 kWh of renewable energy, significantly reducing carbon emissions. LightView features energy-efficient systems, low-flow plumbing, and locally sourced materials. Opened in 2019, it has 825 beds and supports Boston’s housing initiatives. ACC leads the student housing sector with 37 LEED-certified projects nationwide.
American Campus Communities (ACC) released its Fall 2020 Student Resident Report, revealing insights into student life amid the COVID-19 pandemic. The survey, involving over 42,000 students, showed that despite challenges, more than 85% believe they can be academically successful this year. While students appreciate online learning, 77% found it more difficult to learn. Additionally, 96% reported adherence to COVID-19 guidelines, with 89% avoiding large gatherings. The company continues its Be safe. Be smart. Do your part. initiative, offering a $5,000 scholarship to encourage compliance.
American Campus Communities (NYSE: ACC) announced a quarterly dividend of $0.47 per share, payable on November 27, 2020, to shareholders on record by November 16, 2020. CEO Bill Bayless expressed confidence in the company's ability to navigate the disruptions caused by the COVID-19 pandemic, stating that their strong liquidity will allow them to maintain the dividend despite exceeding historically targeted payout ratios. As of September 30, 2020, ACC owned 166 properties with approximately 111,900 beds, reflecting their leadership in the student housing sector.
American Campus Communities reported a net loss of $19.5 million for Q3 2020, translating to $0.15 per diluted share, compared to a net income of $20.2 million or $0.14 per share in Q3 2019. Revenue fell to $202.7 million, down 11% year-over-year, largely due to COVID-19 impacts, including $15 million in rent relief. Same store net operating income decreased by 14% to $81.8 million. However, 97% of September rent was collected, and the company achieved a 1.1% average rental rate increase. The company maintains a strong balance sheet with $44.4 million in cash and a $723.3 million credit facility available.
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