Austin, Texas — American Campus Communities has announced financial results for the second quarter of 2019. The company reported a net income attributable to ACC of $10.4 million or $0.07 per fully diluted share, versus $46 million or $0.33 per fully diluted share in the second quarter 2018. ACC grew same store net operating income by 3.5 percent over the second quarter 2018, with revenues increasing 3.2 percent and operating expenses increasing 2.9 percent. The Austin-based company increased same store average physical occupancy to 90.6 percent for the second quarter, compared to 88.4 percent for the second quarter 2018. Subsequent to quarter end, ACC also commenced construction on a third-party on-campus development project at the University of California, Riverside, representing the company’s second phase of development under the multi-phase award.
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