July 24, 2014 5:20 PM ET

Real Estate Investment Trusts (REITs)

Company Overview of Campus Crest Communities, Inc.

Company Overview

Campus Crest Communities, Inc., a real estate investment trust (REIT), engages in the ownership, development, building, and management of student housing properties under the Grove brand name in the United States. The company rents student housing properties; offers student housing services; and provides construction, development, and management services. As of July 06, 2012, it owned interests in 33 student housing properties containing approximately 6,324 apartment units and 17,064 beds. The company has elected to be treated as a REIT under the Internal Revenue Code of 1986. As a REIT, it would not be subject to federal income taxes, provided it distributes at least 90% of its taxable inco...

2100 Rexford Road

Suite 414

Charlotte, NC 28211

United States

Founded in 2004

522 Employees

Phone:

704-496-2500

Fax:

704-496-2599

Key Executives for Campus Crest Communities, Inc.

Co-Founder
Age: 51
Total Annual Compensation: $427.4K
Chief Financial Officer
Age: 45
Total Annual Compensation: $320.0K
Chief Operating Officer
Age: 52
Total Annual Compensation: $360.0K
Chief Facilities & Construction Officer
Age: 55
Total Annual Compensation: $250.0K
Compensation as of Fiscal Year 2013.

Campus Crest Communities, Inc. Key Developments

Campus Crest Communities, Inc. Declares Cash Dividend on Common Stock and Series A Cumulative Redeemable Preferred Share, Payable on October 8, 2014 and Payable on October 15, 2014 Respectively

Campus Crest Communities, Inc. announced that its Board of Directors declared its third quarter of 2014 common stock dividend of $0.165 per share. Based on a closing price of $8.99 on July 21, 2014, the annualized dividend yield is 7.3%. The dividend is payable on October 8, 2014 to stockholders of record as of September 24, 2014. The Board of Directors also declared a cash dividend of $0.50 per Series A Cumulative Redeemable Preferred Share for the third quarter of 2014. The preferred share dividend is payable on October 15, 2014 to stockholders of record as of September 24, 2014.

Campus Crest Communities, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Reaffirms FFOA Guidance for the Fiscal Year 2014

Campus Crest Communities, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company announced total revenues of $32,044,000 compared to $32,999,000 for the same period a year ago. Operating income was $4,168,000 compared to $4,293,000 for the same period a year ago. Net income before income tax benefit (expense) was $858,000 compared to $1,445,000 for the same period a year ago. Income from continuing operations was $1,048,000 compared to $1,897,000 for the same period a year ago. Net income was $1,048,000 compared to net loss of $2,167,000 for the same period a year ago. Net loss attributable to common stockholders was $1,987,000 or $0.03 per basic and diluted share compared to net income attributable to common stockholders of $1,006,000 or $0.02 per basic and diluted share for the same period a year ago. FFO available to common shares and OP units was $12,008,000 compared to $8,120,000 for the same period a year ago. Funds from operations adjusted (FFOA) available to common shares and OP units were $10,839,000 compared to $8,393,000 for the same period a year ago. FFO per share, diluted was $0.18 compared to $0.17 for the same period a year ago. FFOA per share, diluted was $0.17 compared to $0.18 for the same period a year ago. The company reaffirmed FFOA guidance for the fiscal year 2014. For the year, based on management's current estimates of market conditions and future operating results, the company reaffirms its previous guidance FFOA per fully diluted share of $0.72 to $0.74. As previously disclosed, this assumes that the company does not elect to exercise purchase option one for the Copper Beech portfolio.

Campus Crest Communities, Inc. Hires Angel Herrera as Head of Operations for Campus Crest Property Management Group

Campus Crest Communities, Inc. announced that it has hired Angel Herrera as Head of Operations for Campus Crest Property Management Group, effective April 28, 2014. Mr. Herrera comes from ARAMARK, where he was most recently the Regional Vice President of the Higher Education Group for the Southwest for the last nine years. In that role, he was responsible for one of ARAMARK's top performing higher education regions providing services to 72 colleges and universities located in the states of Texas, Oklahoma, Arkansas, Kansas, Louisiana and New Mexico, with annual revenues of approximately $325 million and approximately 8,000 employees. Prior to ARAMARK, he was a Division Vice President for Burger King Corporation, where he oversaw over 700 franchised restaurants, generating over $750 million in revenue. He has also been an Executive Vice President with Inter Foods Corporation, a Senior Vice President of YUM and President of YUM Mexico, as well as a Vice President/Managing Director for PepsiCo for seven years, overseeing 170 restaurants generating $200 million in sales with more than 6,000 employees.

Similar Private Companies By Industry

Company Name Region
Taberna Realty Finance Trust United States
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Falcon Financial Investment Trust United States
Marathon Real Estate Mortgage Trust United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 26, 2014
The Grove at Denton
Merger/Acquisition
January 22, 2014
22-story, 488 Rooms, Holiday Inn Midtown in Montréal, Québec
Merger/Acquisition
January 13, 2014
Four Student Housing Properties
 

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