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Author: yodaorange Big red star, 1000 posts Top Recommended Fools Feste Award Nominee! Feste Award Winner! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 80130  
Subject: CCG: A rarity in REITville Date: 3/18/2011 12:20 AM
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Campus Crest Communities (CCG) is in a unique group these days amongst REIT commons. It keeps setting new 52 week lows. This is slightly unfair since they just went public last October. That said, CCG is off about 40% since they announced earnings on March 1st. I guess they said something that shareholders were not happy about. . .

I couldn't make heads or tails of their announcement because it compared them as a public company to a predecessor private company.

My only comment is that the company and/or underwriters SHOULD BE FLOGGED. Rule number 1 when you take a company public is that they MUST have their first public quarter financials in the bag. Otherwise, you wait and take them public later. The fact that they went public and disappoint this badly reflects very poorly on both management and the underwriting syndicate. If I had bought this at IPO, I would be livid with those folks. . .

Take a look at the chart. . .

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