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Author: martinmoth Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 77392  
Subject: CCG Date: 2/19/2013 2:44 PM
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CCG-Campus Crest Communities has not gotten much attention from us.
Brad Foster has a lengthy discussion in his usual style on seeking alpha
http://seekingalpha.com/article/1199891-i-must-confess-there...

I saw only one analyst report which rates it a hold.
Debt and payout ratio do not appear to be red flags
Neither Fidelity nor Cohen and Steers are among the top ten holders, however Wellington management owns 6%.
Its current yield is 5.1%.
Its preferred stock trades well above par with a yield to call of very roughtly 5.4%.
While I would not bet the farm on a small-cap student housing REIT I am thinking of taking a small position in its common stock.

Does anyone here own or have an opinion on CCG?

Martin
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Author: gsbaird Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 73752 of 77392
Subject: Re: CCG Date: 2/26/2013 1:53 PM
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Martin,
I took a look at CCG's 3rd Qtr report and saw no warts. They do report 4Q after the bell today. You may want to wait until after their report to buy shares. Here is a very brief summary of my investigation:

* Issued 27% additional common shares since the beginning of 2011 but have grown their revenues in that same period by 49%. 3rd quarter of 2012 revenues were up 69% versus 3rd qtr 2011
* debt/equity = 0.79 (quite reasonable and most of their debt is fixed rate mortgage debt
debt maturities - 2013: $31 million; 2014: $98 million; 2015: 3 million; 2016: $99 million
* They have a revolving credit agreement enabling them to borrow up to $325 million with $56 million of that used to date; the agreement ends in 2014 with a 1 year extension available to them. Interest rate on the
revolving credit is currently 2.49% which is pretty good.
* Raymond James and Reuters recommend purchase of their stock.
* They modestly raised their dividend recently from 16 cents per share quarterly to 16.5 cents per share. They apparently had some serious problems in 2006 and stopped paying common stock dividends until 2010.

Stephen

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Author: martinmoth Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 73756 of 77392
Subject: Re: CCG Date: 2/26/2013 6:00 PM
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Stephen

thank you for your analysis of CCG
I am going to take a small position in it

Martin

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