earnings
confidence high
sentiment positive
materiality 0.80
Camden Property Trust Q1 2024 EPS $0.77 beats guidance; Core FFO guidance maintained at $6.74
CAMDEN PROPERTY TRUST
2024-Q1 EPS reported
$0.77
revenue$1,284,000
- Q1 EPS $0.77 vs guidance midpoint $0.76; FFO $1.67 vs $1.64; Core FFO $1.70 vs $1.67.
- Same property NOI up 2.3% YoY; occupancy 95.0%; revenues up 2.5%, expenses up 2.9%.
- Lowered 2024 same property expense growth guidance to 3.25% from 4.50% midpoint.
- Issued $400M senior unsecured notes due 2034 at 4.90% coupon; repaid $300M term loan and $250M notes.
- Repurchased 471,282 shares for $45.7M during Q1; $450M remaining on buyback program.