American Campus Communities, Inc.

NYSE:ACC Stock Report

Market Cap: US$9.1b

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

American Campus Communities Future Growth

Future criteria checks 3/6

Key information

20.1%

Earnings growth rate

26.78%

EPS growth rate

REITs earnings growth16.0%
Revenue growth rate3.2%
Future return on equity6.49%
Analyst coverage

Low

Last updatedn/a

Recent future growth updates

Recent updates

Seeking Alpha • Jul 22

American Campus Communities Q2 Earnings Preview

American Campus Communities (NYSE:ACC) is scheduled to announce Q2 earnings results on Monday, July 25th, before market open. The consensus EPS Estimate is $0.54 (+28.6% Y/Y) and the consensus Revenue Estimate is $236M (+13.2% Y/Y). Over the last 1 year, ACC has beaten EPS estimates 100% of the time and has beaten revenue estimates 75% of the time. Over the last 3 months, EPS estimates have seen 0 upward revisions and 0 downward. Revenue estimates have seen 2 upward revisions and 0 downward.
Seeking Alpha • May 03

Student Housing REITs: It's Not Goodbye, It's See You Later

Student housing has seen a swift recovery and brightening outlook over the past twelve months as the effects of soaring rents have more-than-offset ongoing COVID issues and longer-term enrollment headwinds. American Campus - the first of three student housing REITs and last one still publicly traded- was scooped-up last month by Blackstone - one of its five major REIT acquisitions since June. Given the abundance of private institutional capital targeting student housing assets and prior acquisitions of EDR and Campus Crest, in January, we projected a potential takeout of ACC at $65/share. Blackstone's $12.8 billion takeout at $65.47/share bid - nearly spot-on with that call - is a healthy 14% premium to ACC's prior close. These massive acquisitions have become necessary to feed its fledging non-traded REIT business, BREIT. BREIT has grown into a $100B behemoth in less than five years despite its high fee structure, capitalizing on investor interest for private real estate, and a questionable perception of lower volatility compared to public REITs.
Seeking Alpha • Apr 25

Merger Arbitrage Mondays - Blackstone Acquires American Campus Communities

The largest deal announced last week was the acquisition of American Campus Communities (ACC) by Blackstone (BX) for nearly $13 billion. The deal represents a premium of 30% over the closing stock price of February 16, 2022, the date immediately prior to the company disclosing receipt from Land & Buildings. ACC also has a 'Cut-Off' time until May 28, 2022, during which it can enter into a definitive agreement with other interested parties.
Seeking Alpha • Jan 28

American Campus Communities: Student Housing - Back To School, Finally

American Campus Communities - along with the broader student housing sector - have delivered a swifter-than-expected rebound as students at flagship universities returned to campus for the 2021-2022 academic year. Despite the broader enrollment declines at the national level due to a myriad of short-term and structural headwinds, student housing fundamentals in these top-tier university markets have improved above pre-pandemic. Non-student apartment rents are soaring by double-digit rates, which allowed ACC to achieve robust rental rate growth of 3.8% and occupancy at 95.8% for the Fall 2021 semester- near record-highs. Beneficiaries of the soaring rents across the nation, ACC also delivered double-digit same-store NOI growth last quarter and now expects to see a full return to pre-pandemic FFO in full-year 2022. ACC has made several positive strides to unlock value through improved corporate governance and capital allocation. Given its deep NAV discount and the ample institutional interest in student housing, ACC is also a takeout candidate.
Seeking Alpha • Dec 20

American Campus Communities: Still Too Pricey

American Campus Communities continues to grow this year after seeing a pullback in 2020. Shares of the company are cheap relative to the competition, but they are still pricey on an absolute basis. The firm is a quality one with an interesting catalyst, but unless you're banking on the said catalyst, there are probably better prospects to be had today.
Seeking Alpha • Oct 13

American Campus Communities' Rebound Is Fully Priced In, But The Looming Enrollment Cliff Is Not

ACC is enjoying a strong rebound from the ravages of COVID-19 and online classes. The student housing REIT expects to see a full recovery in occupancy in the Fall of 2022. But investors should weigh present strength against a probable future higher ed enrollment cliff. It's a matter of simple demographics. Moreover, damaged relations with China, the largest "importer" of foreign students to US universities, seems to have triggered a sea change in the Chinese attitude about obtaining an American education. I give my argument for why ACC's valuation is too rich given the headwinds it will eventually face.
Seeking Alpha • Jul 28

Student Housing: Mask On, Mask Off

American Campus Communities - along with the broader student housing sector - hope for a swift rebound in occupancy this academic year as students at flagship universities return to campus. Two steps forward, one step back. The recent reacceleration in worldwide COVID cases - and resulting "public health" mandates - threaten to delay the complete return of in-person learning. Tale of two Americas: ACC's focus on highly-selective flagship universities across Sunbelt markets - most of which offered in-person classes throughout the pandemic - has proven to be especially critical. ACC reported encouraging Q2 results this week as pre-leasing accelerated significantly to 91.7% for the upcoming year while NOI growth surged 11.6% and its critical Disney development remains on track. While apparent near-term and longer-term risks remain for the student housing asset class, valuations now appear fairly attractive given the robust strength across the broader multifamily housing sector.
Seeking Alpha • Jun 22

Why American Campus Communities May Be Your Smart Buy

American Campus Communities has unique advantages as the largest institutional player in the student housing space. It's set to benefit from universities increasingly seeking avenues to monetize and outsource their aging residences. I also highlight the dividend, balance sheet, valuation, and near-term outlook.

Earnings and Revenue Growth Forecasts

NYSE:ACC - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20241,087116N/AN/A3
12/31/20231,059106N/AN/A4
12/31/202299478N/AN/A1
6/30/20221,02171N/AN/AN/A
3/31/202298357358358N/A
12/31/202194233335335N/A
9/30/202190317327327N/A
6/30/20218779309309N/A
3/31/20218545310310N/A
12/31/202087171351351N/A
9/30/202089371341341N/A
6/30/2020918110365365N/A
3/31/2020950134381381N/A
12/31/201994383370370N/A
9/30/2019933106383383N/A
6/30/201991984356356N/A
3/31/2019903119349349N/A
12/31/2018881116377377N/A
9/30/2018863107345340N/A
6/30/2018846108361357N/A
3/31/201882459363361N/A
12/31/201779668319319N/A
9/30/201777354307311N/A
6/30/201777265284288N/A
3/31/201777986306310N/A
12/31/201678698306306N/A
9/30/2016785101326328N/A
6/30/201676993282285N/A
3/31/201676190N/A251N/A
12/31/2015753115N/A264N/A
9/30/2015748113N/A238N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: ACC's forecast earnings growth (20.1% per year) is above the savings rate (1.9%).

Earnings vs Market: ACC's earnings (20.1% per year) are forecast to grow faster than the US market (14.6% per year).

High Growth Earnings: ACC's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ACC's revenue (3.2% per year) is forecast to grow slower than the US market (7.9% per year).

High Growth Revenue: ACC's revenue (3.2% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: ACC's Return on Equity is forecast to be low in 3 years time (6.5%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2022/08/09 06:46
End of Day Share Price 2022/08/09 00:00
Earnings2022/06/30
Annual Earnings2021/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

American Campus Communities, Inc. is covered by 22 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jacob KilsteinArgus Research Company
Andrew BabinBaird
Jeffrey SpectorBofA Global Research