For the quarter ended December 2024, Camden (CPT) reported revenue of $386.32 million, down 0.3% over the same period last year. EPS came in at $1.73, compared to $2.03 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $386.96 million, representing a surprise of -0.17%. The company delivered an EPS surprise of +2.98%, with the consensus EPS estimate being $1.68.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how t ...

Camden (CPT) came out with quarterly funds from operations (FFO) of $1.73 per share, beating the Zacks Consensus Estimate of $1.68 per share. This compares to FFO of $1.73 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 2.98%. 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 $1.71, delivering a surprise of 1.79%.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" Fourth Quarter Comparisons | 11 | | "Same Property" Sequential Quarter Comparisons | 12 | | "Same Property" Year to Date Comparisons | 13 | | "Same Property" Operat ...

Camden Property Trust (CPT) is slated to report fourth-quarter and full-year 2024 results on Feb. 6, after market close.  The company’s quarterly results are likely to display a year-over-year decline in revenues and funds from operations (FFO) per share.See the Zacks Earnings Calendar to stay ahead of market-making news.In the last reported quarter, this residential real estate investment trust (REIT) reported an FFO per share of $1.71, beating the Zacks Consensus Estimate of $1.68. Results reflected highe ...

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Camden Property Trust (CPT) is well-poised to gain from the healthy renter demand amid favorable demographic trends. The company’s diversification efforts in urban and suburban markets are likely to drive stable revenues. Its focus on leveraging technology to drive margin expansion is encouraging. A strong development pipeline, backed by a healthy balance sheet position, augurs well for long-term growth.However, the elevated supply of rental units in certain markets is likely to fuel competition, impeding t ...

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WHITE BEAR LAKE, Minn., Nov. 14, 2024 (GLOBE NEWSWIRE) -- Envoy Medical®, Inc. (“Envoy Medical”) (Nasdaq: COCH), a revolutionary hearing health company focused on fully implanted hearing devices, today announces its corporate and financial results for the third quarter ended September 30, 2024, as well as other subsequent events. “The progress and accomplishments of late have been extremely important to Envoy Medical as they have set the stage for us to demonstrate the value of fully implanted hearing devic ...

Market Overview - The market is experiencing rapid changes, with the yield of the ten-year treasury increasing by over 50 basis points within a month [1]. Investment Insights - The article reflects on the importance of understanding market dynamics, especially during significant events such as contentious elections [1]. - The author has over ten years of experience in the real estate industry, including roles in an S&P 500 REIT and a Big Four consulting group, indicating a strong background in investment analysis [1].

Financial Data and Key Metrics Changes - For Q3 2024, the company reported core FFO of $1.71 per share, exceeding prior guidance by $0.03, driven by lower operating expenses and higher fee income [15][16] - The full year same-store revenue growth is now anticipated to be between 1.1% and 1.5%, with a midpoint of 1.3%, while same-store expense growth is expected to be between 2.1% and 2.5% [17] - The company increased the midpoint of its full year core FFO from $6.79 to $6.81, reflecting non-property components of Q3 outperformance [18] Business Line Data and Key Metrics Changes - Same-property revenue growth for Q3 was in line with expectations, with top markets including Southern California, Washington D.C. Metro, Southeast Florida, Denver, and Houston, all showing growth above the portfolio average of 0.6% [8] - Rental rates showed signed new leases down 2.8% and renewals up 3.6%, resulting in a blended rate of up 0.1% with an average occupancy of 95.5% [9] Market Data and Key Metrics Changes - Apartment absorption in Camden's markets has been the best in 20 years, driven by strong job growth and a shift towards renting due to high home prices and mortgage rates [5][6] - The trailing 12-month starts for new apartments are down 35%, with monthly starts off 49% from the highs, indicating a potential slowdown in new multifamily starts [6] Company Strategy and Development Direction - The company plans to focus on capital allocation, reducing exposure in certain markets like California and Houston, while looking to invest in suburban areas rather than urban cores [21][22] - Future development activities include approximately $320 million worth of new developments commenced in the second half of 2024, with an additional $375 million anticipated to start in early 2025 [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operating environment, noting that rental demand remains strong despite high new apartment supply [5][6] - The company anticipates a robust transaction market in the coming years due to significant multifamily debt coming due, which may present acquisition opportunities [24][32] Other Important Information - The company reported minimal property damage from recent hurricanes in the Southeast, attributing this to quality construction and preparedness [12][13] - Approximately 80% of the company's debt is fixed rate, with a strong balance sheet reflected in a net debt-to-EBITDA ratio of 3.9x [20] Q&A Session Summary Question: What are the rent levels needed for paused predevelopment projects to make sense? - Management indicated that construction costs have not decreased while rents have, leading to a reassessment of capital allocation for certain projects [21] Question: How much reduction in Houston exposure is planned? - Management stated that they aim to lower exposure in Houston, which currently represents about 13% of NOI, and will continue to trim the portfolio in that market [36][37] Question: What caused the significant falloff in leasing spreads in October? - Management confirmed that the strategy shifted towards occupancy, impacting lease rates negatively [40] Question: What is the outlook for bad debt and processing issues in L.A. and Atlanta? - Management expects bad debt to decrease to about 50 basis points by the end of 2025, with ongoing efforts to improve processing times for delinquencies [62][63]