Camden Q1 EPS $0.39, FFO $1.66; same-property NOI +8.1% YoY; leasing spreads decelerate

CAMDEN PROPERTY TRUST

2023-Q1 EPS reported $0.39 revenue$578,000

Net income per diluted share $0.39 vs $0.76 prior year; FFO per share $1.66 vs $1.50.
Same-property revenue +8.0% YoY, expense +7.8%, NOI +8.1%; occupancy fell to 95.3% from 97.0%.
Signed blended lease rates slowed to 4.0% in Q1 2023 vs 14.2% in Q1 2022; April 2023 blended 4.2%.
2023 guidance barely raised: EPS midpoint $1.69 (prior $1.68); FFO midpoint $6.86 (prior $6.85).
Liquidity $1.1B; development pipeline $661M total; lease-up completed at Camden Atlantic.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CAMDEN PROPERTY TRUST reported three months ended March 31, 2023 results: EPS $0.39. Guidance raised.

Period: three months ended March 31, 2023
EPS: $0.39
Guidance: raised
Result: reported results

Exact text from the filing

On April 27, 2023, Camden Property Trust (the "Company") issued a press release announcing its consolidated financial results for the three months ended March 31, 2023.

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Source: SEC EDGAR

accession 0000906345-23-000021

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