American Campus Communities Celebrates 10 Years as a Public Company
Austin, TX – American Campus Communities, Inc. (NYSE: ACC) today announced that CEO Bill Bayless and members of the leadership team will ring the NYSE Closing Bell on Monday, August 11, 2014 in commemoration of the company’s 10 years as a publicly traded company. At its initial public offering on August 11, 2004, American Campus debuted at $17.50 per share. Nearly 10 years later, on August 8, 2014, ACC stock closed at $38.29, and together with reinvestment of dividends has resulted in a total shareholder return of 240 percent.
With its initial public listing, American Campus led the student housing industry to a new plateau as it became the first publicly traded student housing REIT. Over the past decade, American Campus has established itself as the industry leader and as a best-in-class company growing its IPO portfolio of just 16 high-quality student housing properties containing 11,800 beds with a total enterprise value of approximately $350 million into its current portfolio of 167 high-quality student housing communities containing 102,700 beds with a total enterprise value approaching $7 billion. In addition to its industry leading growth, financial and operational performance, American Campus is the only student housing company to receive an investment grade rating from Moody’s and S&P, has twice been named to the Forbes List of America's Top 100 Most Trustworthy Companies, has four times been named one of the best companies to work for in Texas, and was named the 2013 Development Firm of the year by the National Association of Home Builders. Furthermore, American Campus Charities Foundation has raised nearly $1 million to support charities in the company's home town of Austin and local communities where the company does business.
"As we celebrate and commemorate our 10th anniversary as a publicly traded company, I'd like to thank each and every member of the American Campus family for their hard work, loyalty and dedication", said Bill Bayless, American Campus CEO. "Together we have built an exceptional organization that has improved the quality of life for students, supported the academic mission of colleges and universities and given back to the communities in which we operate, all while providing solid returns to our investors."
About American Campus Communities
American Campus Communities, Inc. is the largest owner and manager of high-quality student housing communities in the United States. The company is a fully integrated, self-managed and self-administered equity real estate investment trust (REIT) with expertise in the design, finance, development, construction management, and operational management of student housing properties. American Campus Communities owns 167 student housing properties containing approximately 102,700 beds. Including its owned and third-party managed properties, ACC’s total managed portfolio consists of 201 properties with approximately 128,700 beds. Visit www.americancampus.com or www.studenthousing.com
In addition to historical information, this press release contains forward-looking statements under the federal securities law. These statements are based on current expectations, estimates and projections about the industry and markets in which American Campus operates, management's beliefs, and assumptions made by management. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict.
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