Investment Thesis
American Campus Communities (ACC) delivered a solid Q2 2019 with top and bottom lines growth. The REIT has a recession resilient portfolio of properties that have high-barrier to entry due to limited lands available for development near universities. The company has a rich development pipeline that should significantly increase its portfolio in the next few years. It also has an investment-grade balance sheet to support these development projects. Its shares are currently trading at a discount. Therefore, we think investors should take advantage of the opportunity as the stock offers investors