U.S. markets closed
  • S&P 500

    3,811.15
    -18.19 (-0.48%)
     
  • Dow 30

    30,932.37
    -469.64 (-1.50%)
     
  • Nasdaq

    13,192.35
    +72.92 (+0.56%)
     
  • Russell 2000

    2,201.05
    +0.88 (+0.04%)
     
  • Crude Oil

    61.66
    -1.87 (-2.94%)
     
  • Gold

    1,733.00
    -42.40 (-2.39%)
     
  • Silver

    26.70
    -0.98 (-3.56%)
     
  • EUR/USD

    1.2088
    -0.0099 (-0.81%)
     
  • 10-Yr Bond

    1.4600
    -0.0580 (-3.82%)
     
  • GBP/USD

    1.3922
    -0.0091 (-0.65%)
     
  • USD/JPY

    106.5500
    +0.3200 (+0.30%)
     
  • BTC-USD

    43,692.89
    -3,017.19 (-6.46%)
     
  • CMC Crypto 200

    912.88
    -20.25 (-2.17%)
     
  • FTSE 100

    6,483.43
    -168.53 (-2.53%)
     
  • Nikkei 225

    28,966.01
    -1,202.26 (-3.99%)
     

Camden: 4Q Earnings Snapshot

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
  • Oops!
    Something went wrong.
    Please try again later.

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.

_____

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