Strong Financial Foundations and Future Growth Prospects
FORWARD-LOOKING STATEMENTS AND NON-GAAP MEASURES
In addition to historical information, this presentation 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 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. For discussions of some risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the
forward-looking statements, please refer to our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended
December 31, 2020 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 expected 2021 operating results, whether as a result of new information,
future events, or otherwise.
This presentation contains certain financial information not derived in accordance with United States generally accepted accounting principles ("GAAP"). These
items include earnings before interest, tax, depreciation and amortization ("EBITDA"), net operating income ("NOI"), funds from operations ("FFO") and FFO-Modified
("FFOM"). The National Association of Real Estate Investment Trusts ("NAREIT") currently defines FFO as net income or loss attributable to common shares
computed in accordance with GAAP, excluding gains or losses from depreciable operating property sales, plus real estate depreciation and amortization, and
after adjustments for unconsolidated partnerships and joint ventures. The Company presents FFO because it considers FFO an important supplemental
measure of its operating performance and believes it is frequently used by securities analysts, investors and other interested parties in the evaluation of REITs. We also
believe it is meaningful to present FFOM, which reflects certain adjustments related to the economic performance of its on-campus participating properties,
impairment charges, losses on early extinguishment of debt related to property dispositions, and other non-cash charges. FFO and FFOM should not be considered
as alternatives to net income or loss computed in accordance with GAAP as an indicator of the Company's financial performance or cash flow from operating
activities computed in accordance with GAAP as an indicator of its liquidity, nor are these measures indicative of funds available to fund its cash needs,
including its ability to pay dividends or make distributions. The Company defines property NOI as property revenues less direct property operating expenses,
excluding depreciation, but including allocated corporate general and administrative expenses.
AMERICAN
CAMPUS
COMMUNITIES
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The Summit | Philadelphia, PA
Plaza on University | Orlando, FLView entire presentation