Camden Property Q3 Profit Increases, Revenues Miss Street

(RTTNews) - Camden Property Trust (CPT) on Thursday released its third-quarter earnings report. While profit increased, revenue fell short of estimates.

The company reported a net income of $48.0 million or $0.44 per share for the quarter, an increase from last year's profit of $29.8 million or $0.27 per share.

Analysts on average had expected the company to earn $0.42 per share, according to figures compiled by Thomson Reuters.

Funds from Operations was $191.2 million or $1.73 per share, compared to the income of $187.6 million or $1.70 per share the prior year.

Core Funds from Operations were $190.7 million or $1.73 per share, compared to the income of $185.6 million or $1.69 per share the prior year.

Revenue increased to $390.8 million from $373.8 million the previous year. It missed the consensus estimate of $390.95 million.