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Camden(CPT) - 2022 Q1 - Quarterly Report
2022-04-28 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to _______________ Commission file number: 1-12110 CAMDEN PROPERTY TRUST (Exact Name of Registrant as Specified in Its Charte ...
Camden(CPT) - 2021 Q4 - Annual Report
2022-02-16 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-12110 CAMDEN PROPERTY TRUST (Exact name of registrant as specified in its charter) Texas 76-6088377 (State or other ...
Camden(CPT) - 2021 Q4 - Earnings Call Transcript
2022-02-04 22:30
Financial Data and Key Metrics Changes - For Q4 2021, the company reported funds from operations (FFO) of $160.2 million or $1.51 per share, exceeding prior guidance by $0.02 per share [33] - Full year 2021 FFO was $5.39 per share, with same-property revenue growth of 4.3% and net operating income (NOI) growth of 4.8% [10][33] - The 2022 guidance projects FFO per share to be in the range of $6.09 to $6.39, with a midpoint of $6.24, representing an increase of $0.85 per share from 2021 results [34] Business Line Data and Key Metrics Changes - Same-property revenue growth for Q4 2021 was 8.5%, with top performers including Tampa, Phoenix, Southern California, Raleigh, and Southeast Florida, all achieving over 10% revenue growth [26] - Rental rates for Q4 2021 showed signed new leases up 16.7% and renewals up 14.1%, resulting in a blended rate of 15.5% [26] Market Data and Key Metrics Changes - The company anticipates overall same-property revenue growth in 2022 to be between 7.75% to 9.75%, with Phoenix and Florida markets expected to achieve double-digit revenue growth [14][16] - Job growth estimates for 2022 in the company's 15 major markets range from 1 million to 1.2 million, with new completions expected to be between 150,000 to 200,000 units [15] Company Strategy and Development Direction - The company is focusing on geographic diversification, particularly in Sunbelt markets, while reducing exposure in Houston and D.C. [49][50] - The strategy includes selling down assets in underperforming markets and reallocating capital to higher-growth areas [49][50] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2022, expecting it to be the best year on record for earnings and same-property growth [11] - The company noted strong demand for apartment homes, particularly in Sunbelt markets, despite challenges in D.C. and Houston [56][58] Other Important Information - The company completed acquisitions of four communities totaling approximately $633 million in 2021, exceeding its original acquisition guidance [29] - The balance sheet remains strong, with a net debt-to-EBITDA ratio of 3.8x and approximately $1.4 billion in liquidity [39] Q&A Session Summary Question: Divergence in new lease rates and renewals - Management noted that the gap between new leases and renewal rates fluctuates based on market conditions and renewal caps [42][44] Question: Long-term views on Houston and D.C. portfolio - The strategy involves reducing exposure in Houston and D.C. while increasing investments in higher-growth Sunbelt markets [49][50] Question: 2022 expense environment - Property taxes are expected to rise by about 3.3% in 2022, with significant refunds contributing to a mild increase [60][62] Question: Current loss to lease for the portfolio - Current loss to lease is in the 10% to 11% range, with expectations for strong numbers in the first half of 2022 [71] Question: Rent growth from the burn-off of free rent - The company does not offer concessions, so free rent is not a factor in their rent growth [97]
Camden(CPT) - 2021 Q4 - Earnings Call Presentation
2022-02-04 17:02
Featured Community: Camden Greenville · Dallas, TX · 558 Apartment Homes · Acquired October 14, 2021 Living Excellence 4Q21 Earnings Release & Supplemental Financial Information 11 Greenway Plaza • Houston TX 77046 • (713) 354-2500 • camdenliving.com Investor Relations Contact • Kim Callahan • (713) 354-2549 CAMDEN TABLE OF CONTENTS | --- | --- | |------------------------------------------------------------------|-------| | | Page | | Press Release Text | 3 | | Financial Highlights | 7 | | Operating Results ...
Camden Property Trust (CPT) Investor Presentation - Slideshow
2021-12-15 20:22
| --- | --- | --- | --- | |----------------------------------|-------|-------|-------------------------| | Camden RiNo – Denver, CO | | | | | | | | | | | | | Investor Presentation | | | | | November 2021 | Camden Downtown I – Houston, TX Table of Contents | --- | --- | |-------------------------------------|---------| | | | | Company Overview | 3 ‐ 5 | | Recent Highlights & Guidance | 6‐11 | | Multifamily Fundamentals | 12‐16 | | Camden's Portfolio | 17 ‐ 21 | | Real Estate Transactions | 22 ‐ 28 | | Capita ...
Camden(CPT) - 2021 Q3 - Earnings Call Transcript
2021-10-29 23:00
Camden Property Trust (NYSE:CPT) Q3 2021 Earnings Conference Call October 29, 2021 11:00 AM ET Company Participants Kim Callahan - Senior Vice President of Investor Relations Ric Campo - Chairman of the Board of Trust Managers and Chief Executive Officer Keith Oden - Executive Vice Chairman of the Board Alex Jessett - Executive Vice President and Chief Financial Officer Conference Call Participants Neil Malkin - Capital One Securities, Inc John Kim - BMO Capital Markets Nicholas Joseph - Citigroup Inc Am ...
Camden(CPT) - 2021 Q3 - Quarterly Report
2021-10-28 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to _______________ Commission file number: 1-12110 CAMDEN PROPERTY TRUST (Exact Name of Registrant as Specified in Its Ch ...
Camden Property Trust (CPT) Presents At 2021 Bank of America Global Real Estate Conference - Slideshow
2021-10-01 20:06
Camden RiNo – Denver, CO Investor Presentation September 2021 Camden Downtown I – Houston, TX Table of Contents | --- | --- | |-------------------------------------|-------| | | | | Company Overview | 3-5 | | 2021 Highlights & Guidance | 6-11 | | Multifamily Fundamentals | 12-16 | | Camden's Portfolio | 17-21 | | Real Estate Transactions | 22-28 | | Capital Structure & Liquidity 29-30 | | | Other Initiatives | 31-36 | | Appendix 37-40 | | FORWARD-LOOKING STATEMENTS – In addition to historical information, t ...
Camden(CPT) - 2021 Q2 - Earnings Call Transcript
2021-07-30 20:54
Camden Property Trust (NYSE:CPT) Q2 2021 Earnings Conference Call July 30, 2021 11:00 AM ET Company Participants Kim Callahan - SVP, IR Ric Campo - Chairman and CEO Keith Oden - Executive Vice Chairman Alex Jessett - CFO Conference Call Participants John Kim - BMO Capital Markets Neil Malkin - Capital One Securities Rich Anderson - SMBC Rob Stevenson - Janney Nick Joseph - Citi Amanda Sweitzer - Baird Rich Hightower - Evercore Brad Heffern - RBC Capital Markets Alexander Goldfarb - Piper Sandler Austin Wurs ...
Camden(CPT) - 2021 Q2 - Quarterly Report
2021-07-29 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to _______________ Commission file number: 1-12110 CAMDEN PROPERTY TRUST (Exact Name of Registrant as Specified in Its Charter ...