It's been a rough ride for two of the three companies that took student housing to the public markets. American Campus, knocking it out of the park in performance, is just about at break-even over a two-year period; Education Realty Trust and GMH Communities are both down more than 25% over that same time period.
StudentHousingPlanet.com (SHP): The Stat of the Week focuses on recent Acquisitions. Since January 1, the average price per bed has crept up to almost $40,000. While this doesn't emcompass all acquisitions, it does cover a pretty significant amount of transaction data on the publicly-readed REITs. (data courtesy media reports and company filings)
StudentHousingPlanet.com (SHP) introduces the Student Housing REIT Index. This is an index of the three public REITs, with a starting point of January, 2005 (at which time all three companies had gone public). The Index of the three stocks combined is flat over that period - but clearly American Campus Communities (ACC) has outperformed. The company is up more than 42% in the last 28 months, while Education Realty Trust (EDR) and GMH Communities Trust (GCT) have lagged.
StudentHousingPlanet.com (SHP): The Student Housing Development sector is certainly growing rapidly. In addition to replacing what is considered to be pretty run-down student housing around the country, more and more kids are taking the high school route right into college. The Stat of the Week focuses on this. Located to the right, it shows the compound annual growth rate (CAGR) for college enrollment at states around the country. The national average is more than 3%, with some states topping 5%. (data courtesy the US Department of Education)
Arizona 8.52% Georgia 6.85% Wash DC 6.75% Kentucky 5.74% Florida 4.82% Texas 4.41% Minnesota 4.30% North Dakota 4.19% Utah 3.76% Arkansas 3.76% North Carolina 3.61% Nevada 3.39% Idaho 3.37% California 3.31% New Mexico 3.29% Indiana 3.21% Wyoming 3.20% US Average 3.15% U.S. Department of Education(May 11, 2007): Today, Student Housing Planet released its first quarterly snapshot of the publicly-traded student housing REITs (real estate investment trusts). The companies covered are American Campus Communities (NYSE:ACC), Education Realty Trust (NYSE:EDR), and GMH Communities (NYSE: GCT). Get the PDF here. Download PublicStudentHousingReitComparison_Q12007.pdf
