Camden Property Trust

Latest Results (22.09.2025):

Camden Property Trust reported its financial results for the third quarter of 2024, highlighting a decline in earnings per share due to strategic impairments, stable occupancy rates, and ongoing development activities. The company also provided updated earnings guidance for the upcoming quarter.

Net Income and EPS Decline

For the three months ended September 30, 2024, Camden Property Trust reported a net income attributable to common shareholders of ($0.04) per diluted share, down from $0.44 in the same quarter last year. The decrease in earnings per share was primarily due to a non-cash impairment charge of $0.37 per share related to land development projects.

Stable Occupancy Rates

Camden maintained a strong occupancy rate of 95.5% for the third quarter of 2024, consistent with the same quarter in 2023. This stability underscores the company’s effective property management and sustained demand for its apartment communities.

Strategic Impairments on Land Development

During the quarter, Camden decided to halt four predevelopment projects, resulting in a non-cash impairment expense of approximately $41.0 million. This strategic decision was made to focus on the company’s current portfolio and adapt to the prevailing market conditions in key regions.

Revenue and Expense Growth

Property revenues increased by 0.6% year-over-year, while property expenses rose by 1.8% for the same period. The growth in expenses was managed effectively, contributing to a stable net operating income despite the increase in costs.

Updated Earnings Guidance

Camden provided updated earnings guidance for the fourth quarter of 2024, projecting an EPS range of $0.34 to $0.38 and continuing to anticipate strong funds from operations. The company remains confident in its financial outlook amid evolving economic conditions.