HOUSTON--(BUSINESS WIRE)--Camden Property Trust (NYSE:CPT) announced today the income tax characteristics of its 2023 distributions paid to shareholders as they will be reported on Form 1099-DIV. The Company is releasing information at this time to aid banks, brokerage firms, and institutional investors that are required to issue Forms 1099 to their account holders. The final classifications of the distributions for 2023 are as follows: Camden Property Trust – Common Shares (CUSIP – 133131102) Record Da ...

z1bREITs (VNQ) rallied strongly in late 2023 when the Fed indicated that we would have at least 3 interest rate cuts in 2024: Data by YChartsBut since then, REITs have dipped back to lower levels, and in some cases, the dip has been quite significant: Data by YChartsI believe that this is an opportunity because the expectations for lower interest rates haven't changed. In fact, the FedWatch tool now pricing a 99.6% chance of at least one rate cut by June: FedWatchTherefore, the dip didn't occur because ...

Financial Data and Key Metrics Changes - The company expects core FFO per share for Q4 2023 to be in the range of $1.70 to $1.74, representing a $0.01 decline from $1.73 in Q3 2023 [8] - Same-store bad debt was 140 basis points in Q3, higher than the expected 100 basis points, and is anticipated to be 150 basis points for both Q4 and the full year 2023 [34][34] Business Line Data and Key Metrics Changes - Effective growth rates for new leases were 0.8% in Q3, 5.9% for renewals, and 3.4% for blended rate growth, with new lease growth for October currently at negative 2.5% [4] - The company anticipates occupancy to average 94.8% in Q4, down from previous estimates due to higher skips and evictions [6] Market Data and Key Metrics Changes - The share of U.S. households living alone is projected to grow to nearly 30% over the next few years, which may stabilize demand for rentals [3] - New supply in markets like Nashville and Austin is at 6%, leading to increased competition and concessions [38] Company Strategy and Development Direction - The company is focusing on maintaining higher rents rather than increasing occupancy through lower rents, indicating a strategic choice to prioritize revenue over occupancy rates [47] - Development starts have been pushed back due to increased cost of capital, with a focus on long-term stability and potential future opportunities in 2025 and 2026 [119] Management's Comments on Operating Environment and Future Outlook - Management expressed that consumer behavior has not returned to pre-COVID norms as quickly as anticipated, impacting occupancy and lease rates [11] - The company expects a gradual improvement in leasing and occupancy levels in 2024, assuming a stable economic environment [52] Other Important Information - The Texas State legislature passed a tax reform bill that could reduce independent school district tax rates by approximately 4.8% if approved [5] - The company has implemented income verification processes to mitigate issues with bad actors in the leasing market [57] Q&A Session Summary Question: What is the impact of high supply on Camden's performance? - Management acknowledged that 16% of their communities are directly impacted by supply, leading to lower new lease rates compared to non-impacted communities [40][41] Question: How does the company plan to address occupancy challenges? - Management stated that they are not willing to lower rents dramatically to boost occupancy, preferring to maintain revenue levels [47][102] Question: What are the expectations for bad debt moving forward? - Management expects bad debt to decrease as regulatory backlogs improve and they implement stricter tenant screening processes [82][88] Question: How does the company view its capital deployment strategy? - Management indicated that they are cautious about new acquisitions and developments due to the current cost of capital but are open to share repurchases if opportunities arise [66][93]

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, 2023 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 (Exact Name of Registrant as Specified in Its Charter) TX 76-6088377 ( ...

Camden Property Trust (NYSE:CPT) Q2 2023 Earnings Conference Call August 4, 2023 11:00 AM ET Company Participants Kim Callahan – Senior Vice President-Investor Relations Ric Campo – Chairman and Chief Executive Officer Keith Oden – Executive Vice Chairman and President Alex Jessett – Chief Financial Officer Conference Call Participants Nick Kerr – Citi Austin Wurschmidt – KeyBanc Capital Markets Steve Sakwa – Evercore ISI Haendel St. Juste – Mizuho John Kim – BMO Capital Markets Alexander Goldfarb – Piper S ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 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 TX 76-6088377 (State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.) 1 ...

Camden Property Trust (NYSE:CPT) Q1 2023 Earnings Conference Call April 28, 2023 11:00 AM ET Company Participants Kimberly Callahan - Senior Vice President, Investor Relations Richard Campo - Chairman and CEO Keith Oden - Executive Vice Chairman and President Alexander Jessett - Chief Financial Officer Conference Call Participants Jamie Feldman - Wells Fargo Joshua Dennerlein - Bank of America Derek Johnston - Deutsche Bank Alexander Goldfarb - Piper Sandler Haendel St. Juste - Mizuho Securities Eric Wo ...

Table of Contents | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------|-------|-----------|-------|-----------------------------|-------|----------------|-------|------------|----------| | ($ in thousands) | at \n | 3/31/2023 | | Three Months March \n2023 | 31, | Ended \n2022 | | Change \n$ | % | | Property revenues: | | | | | | | | | | | Same store communities | | 48,137 | $ | 310,126 | $ | 287,206 | $ | 22,920 | 8.0 % | | Non-same store communities | | 10,5 ...

Less: Fee and asset management income Plus: Fee and asset management expense 4,511 Less: Gain on sale of operating properties NOI Other 18,526 Adjusted EBITDA is defined by the Company as earnings before interest, taxes, depreciation and amortization, including net operating income from discontinued operations, excluding equity in (income) loss of joint ventures, (gain) loss on acquisition of unconsolidated joint venture interests, gain on acquisition of controlling interest in joint ventures, gain on sale ...

Insuf icient cash flows could limit our ability to make required payments for debt obligations or pay distributions to shareholders. Substantially all of our income is derived from rental and other income from our multifamily communities. As a result, our performance depends in large part on our ability to collect rent from residents, which could be negatively affected by a number of factors including, but not limited to, the following: • delay in resident lease commencements; • decline in occupancy; • fail ...