Camden Property Trust Q4 EPS $2.03 beats guidance $0.39 on $176M gain; issues 2024 guidance, declares $1.03 dividend

CAMDEN PROPERTY TRUST

2023-FY EPS reported $3.70 revenue$3,451,000

Q4 EPS $2.03 vs guidance $0.39, driven by $176.4M gain on sale of Costa Mesa, CA community (714 homes for ~$232M).
Core FFO $1.73 ($6.82 full year), in line with guidance. Same-property NOI flat in Q4, +4.3% in 2023; blended lease rates -0.6% in Q4, -0.3% in Jan'24.
Issued $500M 5.85% notes due 2026 in Q4; post-quarter issued $400M 4.9% notes due 2034 and repaid $300M term loan and $250M 4.36% notes.
2024 guidance: Core FFO $6.59–6.89 (mid $6.74); same-property NOI growth 0.0% midpoint. Q1 dividend $1.03/share payable Apr 17.

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 the three and twelve months ended December 31, 2023 results: EPS EPS $2.03 $0.42 $3.70 $6.04. Guidance initiated.

Period: the three and twelve months ended December 31, 2023
EPS: EPS $2.03 $0.42 $3.70 $6.04
Guidance: initiated
Result: reported results

Exact text from the filing

Three Months Ended Twelve Months Ended December 31, December 31, Per Diluted Share 2023 2022 2023 2022 EPS $2.03 $0.42 $3.70 $6.04 FFO $1.72 $1.74 $6.78 $6.59 Core FFO $1.73 $1.74 $6.82 $6.52 Core AFFO $1.44 $1.48 $5.94 $5.69 Three Months Ended 4Q23 Guidance 4Q23 Guidance Per Diluted Share December 31, 2023 Midpoint Variance EPS $2.03 $0.39 $1.64 FFO $1.72 $1.72 $0.00 Core FFO $1.73 $1.72 $0.01 Quarterly Growth Sequential Growth Year-To-Date Growth Same Property Results 4Q23 vs.

View on SEC.gov

Browse all earnings releases →

CAMDEN PROPERTY TRUST filing history →

Source: SEC EDGAR

accession 0000906345-24-000004

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.