American Campus Communities Reschedules Fourth Quarter and Year End 2020 Earnings Release and Conference Call Due to Weather Related Power Outages Across Central Texas
American Campus Communities (NYSE:ACC) has announced a reschedule of its fourth quarter and year-end 2020 earnings release due to winter weather-related power outages in Central Texas. The new reporting date is after market close on February 22, 2021, with the conference call set for February 23, 2021, at 10 a.m. ET. ACC's management will discuss financial results and business outlook during the call. As of September 30, 2020, the company managed 204 properties with approximately 139,900 beds.
- Postponement might allow better preparation for presenting financial results.
- The company maintains a substantial property portfolio, enhancing long-term stability.
- Winter weather issues may indicate vulnerabilities in operational resilience.
- Delay in earnings announcement could create uncertainty among investors.
American Campus Communities, Inc. (NYSE:ACC), the largest owner, manager and developer of high-quality student housing properties in the U.S., today announced that the company has rescheduled its fourth quarter and year end 2020 earnings release and conference call due to widespread winter weather related power outages across Central Texas, with additional inclement weather forecast for coming days.
The company will now report financial results for the fourth quarter and full year 2020 after the market close on Monday, February 22, 2021. The company will host its quarterly earnings conference call for investors and other interested parties on Tuesday, February 23, 2021 at 10 a.m. Eastern Time (ET). ACC management will discuss the quarterly results and business outlook on the call. The press release will be available in the Investor Relations section of the company’s website.
The conference call may be accessed by dialing 888-317-6003 passcode 2405075, or 412-317-6061 for international participants. An accompanying slide presentation will be accessible through the internet. To listen to the live webcast, go to www.americancampus.com at least 15 minutes prior to the call so that required audio software can be downloaded. A replay of the conference call will be available beginning one hour after the end of the call until March 9, 2021 by dialing 877-344-7529 or 412-317-0088 conference number 10150485. Additionally, the replay will be available for one year at www.americancampus.com.
About American Campus Communities
American Campus Communities, Inc. is the largest owner, manager and developer 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. As of September 30, 2020, American Campus Communities owned 166 student housing properties containing approximately 111,900 beds. Including its owned and third-party managed properties, ACC's total managed portfolio consisted of 204 properties with approximately 139,900 beds. Visit www.americancampus.com.
Forward-Looking Statements
In addition to historical information, this press release contains forward-looking statements under the applicable federal securities law. These statements are based on management’s current expectations and assumptions regarding markets in which American Campus Communities, Inc. (the “Company”) operates, operational strategies, anticipated events and trends, the economy, and other future conditions. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. These risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward looking-statements include those related to the COVID-19 pandemic, about which there are still many unknowns, including the duration of the pandemic and the extent of its impact, and those discussed in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2019 under the heading “Risk Factors” and under the heading “Business - Forward-looking Statements” and subsequent quarterly reports on Form 10-Q. We undertake no obligation to publicly update any forward-looking statements, including our preleasing activity or expected full year 2020 operating results, whether as a result of new information, future events, or otherwise.
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