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American Campus Communities Raises 2021 Guidance Following Better Than Expected Fall Leasing Results

American Campus Communities 9ACC) on Monday declared success with lease-up for fall 2021,  producing occupancy and rental revenue growth above the high end of its previously provided guidance range. Based on this better than anticipated completion to the leasing season, the Austin-based company now expects to deliver funds from operations–modified of $2.04 to $2.12 per fully diluted share for calendar 2021, a 4% increase at the midpoint. 

As of Sept. 30, ACC’s 2021 and 2022 same store portfolios were 95.8% leased with 3.3% and 3.8% average rental rate growth over the prior year, respectively. These metrics all represent increases over previous expectations. 

“Our sector is experiencing substantial tailwinds and appears to have almost entirely recovered from the impacts of COVID,” said Bill Bayless, CEO of ACC. “Nearly all universities across the country have resumed in-person academic and social activities.” 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Lease
  • ◦Financing
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