Camden Property Trust Q1 FFO Rises

(RTTNews) - Camden Property Trust (CPT) reported an increase in first-quarter Funds from Operations of $183.8 million or $1.67 per share from $183.01 per share or $1.66 per share in last year quarter.

Core FFO stood at $187.6 million or $1.7 per share versus $183.04 million or $1.66 per share last year.

Core AFFO increased to $165.57 million or $1.5 per share from $165.4 million or $1.5 per share in prior year.

Earnings totaled $83.8 million or $0.77 per share compared to $41.9 million or $0.39 per share in the same quarter last year.

Analysts, on average, polled by Thomson Reuters expected earnings of $0.41 per share for the period.

Property revenue increased to $383.1 million from $378.1 million in previous year.

Looking forward, Camden expects a FFO of $1.64 to $1.68 per share and a Core FFO of $1.65 to $1.69 per share for the second quarter. Earnings are estimated to be $0.34 to $0.38 per share for the same period.