earnings
confidence high
sentiment positive
materiality 0.78
Camden Property Trust Q3 2021 FFO $1.36/dil share beats; raises 2021 FFO guidance midpoint to $5.37
CAMDEN PROPERTY TRUST
2021-Q3 EPS reported
$0.90
revenue$7,717,000
- Q3 EPS $0.29 vs $0.35 YoY; FFO $1.36 vs $1.25; AFFO $1.17 vs $1.03.
- Same-property NOI grew 5.4% YoY; occupancy 97.3% vs 95.5%.
- New lease rates up 18.3% in October (blended +16.5% in Q3).
- 2021 FFO guidance raised to $5.34-$5.40 (midpoint $5.37 from $5.27); same-property NOI growth now 4.0%-5.0%.
- Issued 1.5M shares at avg $150.28 via ATM for $220.7M; acquired Camden Central ($176.3M) and post-quarter Camden Greenville ($165.5M).