(Reuters) – American Campus (NYSE:) Communities Inc, the largest owner of student housing in the United States, said on Thursday the head of hedge fund Land & Buildings Investment Management LLC had not followed up on an interview for a position on the company’s board.

The activist fund is seeking a seat on the board and feels that the company must aggressively sell its assets and purchase back stock.

American Campus said that one of its board committees interviewed Land & Buildings’ Chief Executive Jonathan Litt for a board seat on Nov. 18 and that he did not provide follow-up information he had indicated he would give.

A Land & Buildings spokesperson said American Campus did not respond Land & Buildings’ last communication. Litt presented his demand for a seat on the board to American Campus shareholders Thursday. He stated that discussions with Land & Buildings had “stalled over the last weeks” and reiterated his concerns.

American Campus staved off a board challenge from Land & Buildings in January by agreeing to replenish its board with three new directors. The shares of American Campus have returned 39% since January and trade near their highest level ever as students return to campus after the COVID-19 epidemic.

Litt believes the shares can have even greater results, and says that they’ve underperformed Bloomberg Apartment REIT Indexes by 18 percent since January.

American Campus was asked by him to accelerate asset sales, reduce expenses, return capital and examine strategic options, including the sale of his company.

American Campus announced Thursday that it has restructured its portfolio so that they are able to concentrate on properties located within walking distance to popular universities. It also reported that its property net operating income was back to its pre-pandemic level a year sooner than anticipated.