Camden Property Trust

CPT

Equity

ISIN US1331311027 / Valor 94215

New York Stock Exchange, Inc (2024-12-26)

USD 116.40-0.03%

Camden Property Trust
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About company

Camden Property Trust, an S&P 500 Company, stands as a significant player in the United States' real estate sector, particularly within the multifamily housing market. Operating as a Real Estate Investment Trust (REIT), Camden focuses on a comprehensive range of activities encompassing the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. With a substantial workforce of approximately 1,600 employees, the company is headquartered in Houston, Texas. As of the first quarter of 2024, Camden Property Trust has expanded its portfolio to include 171 properties, which collectively house 58,042 apartment homes across various locations in the United States. This broad operational scope underlines Camden's pivotal role in providing residential solutions within the multifamily segment of the real estate market.

Summarized from source with an LLMView SourceSector: Finance

Net Income

In the third quarter of 2024, Camden Property Trust reported a net income attributable to common shareholders of negative $0.04 per diluted share. This represents a significant decrease compared to the $0.44 per diluted share reported in the same quarter of 2023. The decline in net income was primarily due to impairments associated with land development activities.

Funds from Operations

Camden Property Trust's Funds from Operations (FFO) for the third quarter of 2024 was $1.65 per diluted share, which is slightly lower than the $1.73 per diluted share reported in the third quarter of 2023. The FFO remained stable compared to the company's guidance midpoint for the quarter.

Core Funds from Operations

The Core Funds from Operations (Core FFO) for Camden Property Trust in the third quarter of 2024 was $1.71 per diluted share. This is a slight decrease from the $1.73 per diluted share reported in the same period of the previous year. The Core FFO exceeded the company's guidance midpoint by $0.03 per share.

Revenue and Expenses

For the third quarter of 2024, Camden Property Trust reported property revenues of $387.2 million, a slight decrease from $390.8 million in the third quarter of 2023. Property expenses increased to $143.4 million from $140.1 million in the same period last year, reflecting higher operating and maintenance costs.

Earnings Guidance

Camden Property Trust updated its earnings guidance for the full year 2024, with expected EPS ranging from $1.46 to $1.50 per diluted share. The company also provided guidance for the fourth quarter of 2024, with expected EPS between $0.34 and $0.38 per diluted share. The updated guidance reflects the company's current views on the apartment market and economic conditions.

Summarized from source with an LLMView Source

Key figures

18.2%1Y

-32.9%3Y

10.8%5Y

Performance

21.3%1Y

24.0%3Y

29.4%5Y

Volatility