Camden: Q4 Earnings Snapshot

HOUSTON (AP) — HOUSTON (AP) — Camden Property Trust (CPT) on Thursday reported a key measure of profitability in its fourth quarter. The results exceeded Wall Street expectations.

The Houston-based real estate investment trust said it had funds from operations of $158.6 million, or $1.73 per share, in the period.

The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of $1.72 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 $222.3 million, or $2.03 per share.

The real estate investment trust, based in Houston, posted revenue of $387.6 million in the period, which did not meet Street forecasts. Nine analysts surveyed by Zacks expected $388.5 million.

For the year, the company reported funds from operations of $654.9 million. Revenue was reported as $1.54 billion.

For the current quarter ending in March, Camden expects its per-share funds from operations to range from $1.65 to $1.69.

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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