February 3, 2023

Camden Property Trust results fall short of Wall Street expectations

Feb. 3, 2023

Camden Property, a Houston-based national apartment firm, For reported funds from operations of $719.6 million, or $6.59 per share, for 2022. Revenue was reported as $1.42 billion. — Camden Property, a Houston-based national apartment firm, For reported funds from operations of $719.6 million, or $6.59 per share, for 2022. Revenue was reported as $1.42 billion.

Marissa Luck / Houston Chronicle

Camden Property Trust on Thursday reported a key measure of profitability in its fourth quarter. The results fell short of Wall Street expectations.

The Houston-based real estate investment trust said it had net income of $45.7 million, or 42 cents per share.

The company posted revenue of $375.9 million in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $375 million.

For the year, the company reported funds from operations of $719.6 million, or $6.59 per share. Revenue was reported as $1.42 billion.

The company said it had fourth-quarter funds from operations of $191.6 million, or $1.74 per share. The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of $1.76 per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

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