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Camden Property (CPT)
NYSE:CPT
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Earnings Data
Report Date
Jan 30, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.41Last Year’s EPS
$2.03Same Quarter Last Year
Based on 16 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 31, 2024
|% Change Since: -1.23%
|Next Earnings Date:Jan 30, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a generally positive outlook with strong financial performance and strategic planning for future growth. However, challenges such as rent growth pressure from supply and bad debt in specific markets were acknowledged.Company Guidance
In the third quarter of 2024 earnings call for Camden Property Trust, the guidance revealed several key metrics and insights. Core Funds From Operations (FFO) for the quarter was reported at $1.71 per share, exceeding the midpoint of prior guidance by $0.03, attributed largely to lower-than-anticipated operating expenses and favorable non-property factors like higher fee income and lower interest expenses. The company maintained the midpoint of its full-year same-store Net Operating Income (NOI) guidance at 0.75%, with same-store revenue growth expected between 1.1% and 1.5%. Operating expenses were projected to grow by 2.1% to 2.5%. Camden indicated a strategic shift towards acquisitions, with an expectation of more transaction opportunities in 2025, partly due to a large volume of multifamily debt maturing. Additionally, the balance sheet remains strong with net debt-to-EBITDA at 3.9x. Looking forward, the company anticipates starting $375 million in new developments in early 2025, with a continued focus on capital allocation towards high-growth, high-demand markets.Strong Earnings Performance
The company reported core FFO of $1.71 per share, which was $0.03 ahead of the midpoint of prior quarterly guidance, driven by lower-than-anticipated operating expenses and higher fee income.
Hurricane Resilience
Camden's properties experienced only minor damage from recent hurricanes Helene and Milton, showcasing the quality of construction and preparation.
Solid Balance Sheet
The balance sheet remains strong with net debt-to-EBITDA at 3.9x, and only $65 million of maturities over the next 24 months.
Positive Development Pipeline
The company commenced $320 million of new developments in the second half of 2024 and plans to start an additional $375 million in early 2025.
Strong Occupancy and Retention
Average occupancy for the third quarter was 95.5%, with resident retention remaining high and turnover low.
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CPT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CPT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 31, 2024 | $116.34 | $114.78 | -1.34% |
| Aug 01, 2024 | $113.12 | $116.20 | +2.72% |
| May 02, 2024 | $97.90 | $102.33 | +4.53% |
| Feb 01, 2024 | $92.05 | $93.04 | +1.08% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Camden Property (CPT) report earnings?
Camden Property (CPT) is schdueled to report earning on Jan 30, 2025, TBA Not Confirmed.
What is Camden Property (CPT) earnings time?
Camden Property (CPT) earnings time is at Jan 30, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CPT EPS forecast?
CPT EPS forecast for the fiscal quarter 2024 (Q4) is $0.41.
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