The Zacks Analyst Blog Highlights: Campus Crest Communities, Vornado Realty
Trust, DDR and RLJ Lodging Trust
CHICAGO, Feb. 4, 2013
CHICAGO, Feb. 4, 2013 /PRNewswire/ --Zacks.com announces the list of stocks
featured in the Analyst Blog. Every day the Zacks Equity Research analysts
discuss the latest news and events impacting stocks and the financial markets.
Stocks recently featured in the blog include Campus Crest Communities Inc.
(NYSE:CCG), Vornado Realty Trust (NYSE:VNO), DDR Corp. (NYSE:DDR) and RLJ
Lodging Trust (NYSE:RLJ).
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Here are highlights from Friday's Analyst Blog:
Campus Crest Raises Dividend
Earlier this week, Campus Crest Communities Inc. (NYSE:CCG) – a real estate
investment trust (REIT) – announced a 3.1% hike in its annual cash dividend
rate. The company will now pay a dividend of 66 cents per share annually
compared with the prior rate of 64 cents.
It will become effective from first quarter 2013 and the quarterly dividend
rate will amount to 16.5 cents. The increased dividend will be paid on Apr
10, 2013 to stockholders of record on Mar 27.
Based on the closing price of $12.08 on Jan 31, 2013, the proposed annual
dividend affirms a yield of 5.5%. It is backed by the company's solid
operating platform and strategic measures to help improve its top line.
Campus Crest, which currently owns interests in 39 operating student housing
properties containing approximately 20,884 beds, plans to deliver 6 projects
containing approximately 3,564 beds in the third quarter of 2013. We believe
that with its decent fundamentals, the company is well poised to maintain its
growth curve and concurrently add to shareholders wealth through steady
Campus Crest is a developer, builder, owner and manager of high-quality,
purpose-built student housing properties located close to campuses in targeted
The company rents student housing properties, offers student housing services
and provides construction, development and management services.
With this dividend hike, Campus Crest joined a host of REITs that have
recently increased their dividend payments. This includes Vornado Realty Trust
(NYSE:VNO), DDR Corp. (NYSE:DDR) as well as lodging REIT, RLJ Lodging Trust
(NYSE:RLJ) that have raised their dividend in the last two months.
U.S. law requires REIT companies to distribute 90% of their annual taxable
income in the form of dividends to the shareholders and therefore, solid
dividend payouts are a significant attraction for REIT investors. Also, Campus
Crest currently carries a Zacks Rank #2 (Buy).
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