AUSTIN, Texas–(BUSINESS WIRE)–American Campus Communities, Inc. (NYSE: ACC), the nation’s largest
owner and manager of high-quality student housing properties, announced
that on May 1, 2019 its Board of Directors declared a regular quarterly
dividend of $0.47 per share of common stock, payable on May 24, 2019, to
shareholders of record at the close of business on May 13, 2019. The
declared dividend is a 2.2 percent increase over the prior quarterly
dividend of $0.46 per share of common stock.

“We are pleased to provide a seventh consecutive annual dividend
increase for shareholders,” said Bill Bayless, American Campus
Communities CEO. “The long-term stability of our operating performance
has allowed the Board of Directors to maintain or increase the company’s
dividend throughout the 58 quarters since our IPO, representing over 39
percent growth in the dividend since 2012.”

The $0.47 quarterly dividend payment is equivalent to $1.88 per share on
an annualized basis, and represents a yield of approximately 4.0 percent
on the April 30, 2019 closing price of $47.20 per share.

About American Campus Communities

American Campus Communities, Inc. is the largest owner, manager and
developer of high-quality student housing communities in the United
States. The company is a fully integrated, self-managed and
self-administered equity real estate investment trust (REIT) with
expertise in the design, finance, development, construction management
and operational management of student housing properties. As of March
31, 2019, American Campus Communities owned 171 student housing
properties containing approximately 109,400 beds. Including its owned
and third-party managed properties, ACC’s total managed portfolio
consisted of 205 properties with approximately 133,700 beds. Visit www.americancampus.com.

Forward-Looking Statements

In addition to historical information, this press release contains
forward-looking statements under the applicable federal securities law.
These statements are based on management’s current expectations and
assumptions regarding markets in which American Campus Communities, Inc.
(the “Company”) operates, operational strategies, anticipated events and
trends, the economy, and other future conditions. Forward-looking
statements are not guarantees of future performance and involve certain
risks and uncertainties, which are difficult to predict. For discussions
of some risks and uncertainties that could cause actual results to
differ materially from those expressed or implied by the forward-looking
statements, please refer to our filings with the Securities and Exchange
Commission, including our Annual Report on Form 10-K for the year ended
December 31, 2018 under the heading “Risk Factors” and under the heading
“Business – Forward-looking Statements” and subsequent quarterly reports
on Form 10-Q. We undertake no obligation to publicly update any
forward-looking statements, including our expected 2019 operating
results, whether as a result of new information, future events, or
otherwise.

Contacts

Ryan Dennison
Investor Relations
(512) 732-1000