Camden (CPT) came out with quarterly funds from operations (FFO) of $1.72 per share, beating the Zacks Consensus Estimate of $1.68 per share. This compares to FFO of $1.67 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 2.38%. A quarter ago, it was expected that this real estate investment trust would post FFO of $1.68 per share when it actually produced FFO of $1.73, delivering a surprise of 2.98%.Over the last four quarters, the ...

CAMDEN TABLE OF CONTENTS | | Page | | --- | --- | | Press Release Text | 3 | | Financial Highlights | 4 | | Operating Results | 5 | | Funds from Operations | 6 | | Balance Sheets | 7 | | Portfolio Statistics | 8 | | Components of Property Net Operating Income | 9 | | Sequential Components of Property Net Operating Income | 10 | | "Same Property" First Quarter Comparisons | 11 | | "Same Property" Sequential Quarter Comparisons | 12 | | "Same Property" Operating Expense Detail & Comparisons | 13 | | Current D ...

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Equity Residential (EQR) reported first-quarter 2025 normalized funds from operations (FFO) per share of 95 cents, which outpaced the Zacks Consensus Estimate of 93 cents. The figure also improved 2.2% from the year-ago quarter.Results reflect a rise in same-store revenues and physical occupancy on a year-over-year basis. The company reaffirmed its guidance for 2025.Rental income of $760.8 million missed the consensus mark of $766.8 million. Rental income was up 4.1% year over year.According to Mark J. Parr ...

Core Viewpoint - Camden Property Trust (CPT) is expected to report a year-over-year increase in revenues and funds from operations (FFO) per share for the first quarter of 2025, with results anticipated on May 1, after market close [1] U.S. Apartment Market Overview - The first quarter of 2025 saw strong apartment demand, with over 138,000 market-rate apartment units absorbed nationally, marking the highest first-quarter demand on record in over three decades [4] - Annual absorption reached nearly 708,000 units, matching the demand boom from early 2022 [4] - Demand exceeded supply, with nearly 577,000 units delivered, indicating a potential peak in the construction cycle [5] - Occupancy rose to 95.2% in March, the highest since October 2022, and effective rents increased by 0.75% in March and 1.1% year-over-year, the highest since June 2023 [6] - Rent growth was broad-based across the nation's 50 largest apartment markets, with an average effective rent of $1,848 [6] Regional Performance - The Midwest and Rust Belt regions led annual rent gains, while high-supply Sun Belt metros like Austin and Phoenix experienced rent cuts but showed monthly rent growth in March [7] Factors Influencing Camden Property's Performance - Camden's performance is likely benefiting from healthy renter demand in high-growth markets, contributing to occupancy and blended lease rate growth [8] - The company operates in markets with growing employment in high-wage sectors and in-migration trends, making renting a viable option due to high homeownership costs [9] - Camden's diversification in urban and suburban markets is expected to drive stable revenues [9] - The company is leveraging technology and organizational capabilities to enhance operational efficiency and reduce costs, aiding net operating income (NOI) growth [10] Financial Projections - The Zacks Consensus Estimate for CPT's revenues for Q1 2025 is $388.5 million, reflecting a growth of 1.4% year-over-year [12] - Camden expects core FFO per share in the range of $1.66-$1.70, with the Zacks Consensus Estimate remaining unchanged at $1.68, indicating a 0.6% year-over-year improvement [13] Earnings Prediction - A positive Earnings ESP of +0.26% and a Zacks Rank of 3 suggest a potential surprise in FFO per share for CPT this quarter [14]

Camden Property Trust (CPT) is well-poised to gain from the healthy renter demand for its residential properties in the high-growth markets of the United States amid favorable demographic trends, a healthy job market and high homeownership costs. The company’s diversification efforts in urban and suburban markets are likely to drive stable revenues. CPT’s focus on leveraging technology to drive margin expansion is encouraging. A strong development pipeline backed by a healthy balance sheet position augurs w ...

Group 1 - Camden (CPT) shares increased by 4.9% to close at $111.71, following a notable trading volume, despite a 11.6% loss over the past four weeks [1] - The optimism in Camden's stock is linked to President Trump's announcement of a 90-day pause on reciprocal tariffs for most countries [1] - The expected quarterly funds from operation (FFO) for Camden is $1.68 per share, reflecting a year-over-year increase of 0.6%, with revenues projected at $388.5 million, up 1.4% from the previous year [2] Group 2 - The consensus estimate for Camden's FFO per share has been revised slightly lower in the last 30 days, indicating a negative trend that typically does not lead to price appreciation [3] - Camden holds a Zacks Rank of 3 (Hold), while Sun Communities (SUI), another stock in the same residential REIT industry, finished 5.9% higher at $121.41 but has a return of -11.7% over the past month [3] - Sun Communities' FFO per share estimate remains unchanged at $1.21, representing a year-over-year change of 1.7%, and it currently has a Zacks Rank of 4 (Sell) [4]

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Core Insights - Camden Property Trust (CPT) is a real estate investment trust (REIT) focused on multifamily properties, primarily apartment communities in major U.S. cities, owning approximately 60,800 apartment homes including those under construction [1] - The company grows through acquisitions and developments, enhancing property value via redevelopment efforts such as renovations and added amenities, which increase rental income [2] - Camden Property Trust is sensitive to interest rate fluctuations, typically performing well when rates fall and underperforming when rates rise, but is designed to generate steady rental income even in challenging economic conditions [3] Investment Potential - Camden Property Trust is considered an excellent income stock with a 3.5% dividend yield and a history of dividend increases, alongside strong potential for value creation through property appreciation and redevelopment [4] - Over the past 30 years, the stock has delivered a total return of 2,530%, outperforming the S&P 500 by approximately 650 percentage points, indicating strong long-term performance despite recent interest rate sensitivity [5] - The company presents a compelling long-term investment opportunity for income and growth, particularly in light of the ongoing housing shortage in the United States [6]

Core Viewpoint - Camden Property Trust (CPT) is positioned to benefit from strong renter demand and favorable demographic trends, although it faces challenges from elevated rental unit supply and high interest rates [1]. Financial Performance - In Q4 2024, CPT reported core funds from operations (FFO) per share of $1.73, exceeding the Zacks Consensus Estimate of $1.68, driven by higher same-property revenues and net operating income (NOI), despite a lower effective blended lease rate [2]. - The Zacks Consensus Estimate for 2025 FFO per share has been revised slightly downward to $6.76 over the past month [10]. Market Positioning - Camden targets high-growth markets with quality resident profiles, leading to steady rental revenues, supported by employment growth in high-wage sectors and positive in-migration trends [3]. - The company maintains a diverse portfolio of A/B quality properties across urban and suburban markets, which helps limit volatility and generate consistent rental revenues [4]. Operational Efficiency - Camden is leveraging technology and organizational capabilities to enhance margin expansion, resulting in an annual NOI of $55 million in 2024 [5]. - The company has a healthy balance sheet with over $1.0 billion in liquidity as of December 31, 2024, including $21 million in cash and approximately $1.0 billion available under its unsecured credit facility [6]. Debt Management - CPT has a well-laddered debt maturity schedule with a weighted average maturity of 6.2 years, and its annualized net debt to annualized adjusted EBITDAre was 3.8 times in Q4 2024 [7]. Challenges - The company faces challenges in attracting renters due to elevated supply in certain markets, although management anticipates a gradual reduction in supply over time [8]. - High interest rates remain a concern, increasing borrowing costs and impacting the company's ability to purchase or develop real estate, with total debt at approximately $3.49 billion as of December 31, 2024 [9].