ACC - American Campus Communities FFO beats by $0.03 beats on revenue

American Campus Communities (ACC): Q1 FFO of $0.58 beats by $0.03.Revenue of $232.72M (-6.7% Y/Y) beats by $16.14M.Same store net operating income decreased by 11% versus the first quarter prior year, as the COVID-19 impacts on the current academic year’s occupancy levels resulted in a 6.4% decrease in revenues and only a 0.5% increase in operating expenses.Q2 2021 Outlook: FFO will be in the range of $0.33 to $0.37 per fully diluted share and FFOM will be in the range of $0.35 to $0.38 per fully diluted share, as compared to second quarter 2020 FFO and FFOM per fully diluted share of $0.36 and $0.37, respectively.Press Release

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American Campus Communities FFO beats by $0.03, beats on revenue