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Camden (CPT) Tops Q3 FFO Estimates
CPTCamden(CPT) ZACKS·2024-10-31 22:31

Core Viewpoint - Camden (CPT) reported quarterly funds from operations (FFO) of 1.71pershare,exceedingtheZacksConsensusEstimateof1.71 per share, exceeding the Zacks Consensus Estimate of 1.68 per share, but down from 1.73pershareayearago,indicatingaslightdeclineyear−over−year[1][2]FinancialPerformance−Thecompanyachievedrevenuesof1.73 per share a year ago, indicating a slight decline year-over-year [1][2] Financial Performance - The company achieved revenues of 387.23 million for the quarter ended September 2024, which missed the Zacks Consensus Estimate by 0.50% and is lower than the 390.78millionreportedinthesamequarterlastyear[2]−Overthelastfourquarters,CamdenhassurpassedconsensusFFOestimatesfourtimes,buthasonlytoppedrevenueestimatesonce[2]StockPerformance−Camdenshareshaveincreasedapproximately18.2390.78 million reported in the same quarter last year [2] - Over the last four quarters, Camden has surpassed consensus FFO estimates four times, but has only topped revenue estimates once [2] Stock Performance - Camden shares have increased approximately 18.2% since the beginning of the year, while the S&P 500 has gained 21.9%, indicating underperformance relative to the broader market [3] Future Outlook - The future performance of Camden's stock will largely depend on management's commentary during the earnings call and the company's FFO outlook for upcoming quarters [4][6] - The current consensus FFO estimate for the next quarter is 1.71 on revenues of 389.4million,andforthecurrentfiscalyear,itis389.4 million, and for the current fiscal year, it is 6.78 on revenues of $1.55 billion [7] Industry Context - The REIT and Equity Trust - Residential industry, to which Camden belongs, is currently ranked in the top 37% of over 250 Zacks industries, suggesting a favorable industry outlook [8]