American Community Properties Trust

222 Smallwood Village Center

Year founded: 1997

Industry: Real Estate

Post 200 Category: Top 125 Companies

Revenue: $49.01 Million

Net Income/Loss: $3.45 Million

Earnings per share: $0.67

Dividend: $0.35

Stockholder equity: $34.17 Million

Auditor: Ernst & Young LLP

Stock: APO

Assets: $184.03 Million

Market capitalization: $73.72 Million

52-week high: 16.25 7/7/2004

52-week low: 10.05 4/19/2004

Chairman and CEO: J. Michael Wilson

President and COO: Edwin L. Kelly

Employees: 273

Local employees: 150

Description: American Community Properties Trust is a real estate investment trust that develops houses and builds and manages apartments and commercial properties. It started as a construction company in Puerto Rico and bought land in the 1970s in Charles County that it has since been developing into a planned community. It still operates in Puerto Rico as well and is developing a large mixed-use project there.

Developments: The company sold almost 2,000 lots in the Fairway Village part of the planned development in Charles County. That deal allows American Community to put up a $20 million letter of credit to secure the repayment of bonds that Charles County is issuing to pay for road improvements around its residential project. When done, the planned community will have 24,000 housing units. "We've built 12,000 housing units in the last 30 years, and it's another 30-year process," said Ed Kelly, president. American Community paid $19.9 million last fall for two apartment buildings in Pikesville, Md. In March, the company announced it would restate its financial statements for 2002, 2003 and the first three quarters of 2004 to reflect the expiration of a provision in a limited partnership agreement This year, the company said it plans to build 250 market-rate apartments in St. Charles.