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Campus Crest Cuts Costs in Q1

CHARLOTTE—Campus Crest CEO Ted Rollins painted a pretty picture of the student housing firm's first quarter earnings. Find out what analysts had to say about the performance.

By Jennifer LeClaire | Updated on May 01, 2014

CHARLOTTE—Student housing developer Campus Crest Communities has posted its first quarter earnings report. Revenues totaled $32 million, a $2 million net income loss, compared to $33 million in revenues and $1 million net income loss in the year-ago period.

Campus Crest delivered same-store net operating income (NOI) of $11.5 million at 90.5% occupancy and a 55% margin. Leasing for all of its 69 student housing properties was 69.4% compared to 67.9% in the year-ago period, a 150 basis points increase.

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