8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington D.C., 20549

                                    Form 8-K

                                 Current Report
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

            Date Of Report (Date Of Earliest Event Reported): 2/17/05

                        American Campus Communities, Inc.
             (Exact Name of Registrant as Specified in its Charter)

                        Commission File Number: 001-32265

                    MD                                     760753089
      (State or Other Jurisdiction Of                   (I.R.S. Employer
       Incorporation or Organization)                  Identification No.)

                         805 Las Cimas Parkway Suite 400
                                Austin, TX 78746
          (Address of Principal Executive Offices, Including Zip Code)

                                  512-732-1000
              (Registrant's Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ]  Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))

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                       Items to be Included in this Report

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Item 7.01.   Regulation FD Disclosure

     On February 17, 2005, the board of directors of American Campus
Communities, Inc. declared a regular quarterly dividend of $0.3375 per share of
common stock, payable March 8, 2005, to shareholders of record at the close of
business on February 25, 2005

     The press release is furnished pursuant to Item 7.01 and shall not be
deemed "filed" for purposes of Section 18 of the Securities Act of 1934 (the
"Exchange Act"), or subject to the liabilities of that Section. The information
in this Current Report shall not be incorporated by reference in any filing
under the Securities Act of 1933 or the Exchange Act, except as shall be
expressly set forth by specific reference in such filing.

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                                  Signature(s)

     Pursuant to the Requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
Undersigned hereunto duly authorized.

                                               American Campus Communities, Inc.


                                           By: /s/ Mark J. Hager
Date: February 17, 2005.                       ---------------------------------
                                               Mark J. Hager
                                               Executive Vice President, Chief
                                               Financial and Accounting Officer
                                               and Treasurer


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                                  Exhibit Index

Exhibit No.    Description
- -----------    -----------
  EX-99.1      Press Release Dated February 17, 2005.

EX-99.1

                                                                    Exhibit 99.1

      American Campus Communities Announces Quarterly Dividend

    AUSTIN, Texas--(BUSINESS WIRE)--Feb. 17, 2005--American Campus
Communities, Inc. (NYSE:ACC), one of the nation's largest owners,
managers and developers of high-quality student housing properties,
announced today that its board of directors has declared a regular
quarterly dividend of $0.3375 per share of common stock, payable on
March 8, 2005, to shareholders of record at the close of business on
February 25, 2005.

    About American Campus Communities

    American Campus Communities, Inc. is one of the largest
developers, owners and managers 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, leasing and management of student housing
properties. American Campus Communities owns and manages a portfolio
of 21 student housing communities containing approximately 14,000
beds, and provides management and leasing services at a total of 40
properties with more than 25,300 beds located on or near college and
university campuses. Additional information is available at
www.studenthousing.com.

    Forward-Looking Statements

    Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This release contains forward-looking statements,
which express the current beliefs and expectations of management. Such
statements are based on current expectations and involve a number of
known and unknown risks and uncertainties that could cause our future
results, performance or achievements to differ significantly from the
results, performance or achievements expressed or implied by such
forward-looking statements. Forward-looking statements speak only as
of the date on which they are made, and we undertake no obligation to
update publicly or revise any forward-looking statement, whether as a
result of new information, future developments or otherwise.

    CONTACT: American Campus Communities, Inc., Austin
             Joe Allen, 512-732-1009