Camden: 4Q Earnings Snapshot

HOUSTON (AP) _ Camden Property Trust (CPT) 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 funds from operations of $122.4 million, or $1.21 per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.24 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.

The company said it had net income of $29.2 million, or 29 cents per share.

The real estate investment trust posted revenue of $261.6 million in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $263.2 million.

For the year, the company reported funds from operations of $495.7 million, or $4.90 per share. Revenue was reported as $1.04 billion.

For the current quarter ending in April, Camden expects its per-share funds from operations to range from $1.20 to $1.26.

The company expects full-year funds from operations in the range of $4.80 to $5.20 per share.

The company's shares have climbed almost 4% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $103.62, a fall of roughly 8% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CPT at https://www.zacks.com/ap/CPT