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Mar 31, 2022
Camden Q1 2022 Earnings Report
Camden Property Trust's operating results for Q1 2022 were announced.
Key Takeaways
Camden Property Trust reported a strong first quarter in 2022, with significant growth in EPS, FFO, and AFFO compared to the same period last year. The company also completed lease-up at Camden Lake Eola and continued leasing at Camden Hillcrest.
EPS increased to $0.76 compared to $0.31 in Q1 2021.
FFO reached $1.50 per diluted share, up from $1.24 in the prior year.
AFFO rose to $1.37 per diluted share, compared to $1.12 in Q1 2021.
Same Property Revenue increased by 11.1% and NOI increased by 15.5% from Q1 2021.
Forward Guidance
Camden updated its earnings guidance for 2022 based on its current and expected views of the apartment market and general economic conditions, and provided guidance for second quarter 2022.
Positive Outlook
- Expected FFO per share - diluted 2Q22 range $1.60 - $1.64
- Expected FFO per share - diluted 2022 range $6.39 - $6.63
- Same Property Revenue growth 2022 range 9.50% - 11.00%
- Same Property Expenses growth 2022 range 3.70% - 4.70%
- Same Property NOI growth 2022 range 12.50% - 15.00%
Challenges Ahead
- Expected earnings per common share - diluted 2Q22 range $0.09 - $0.13
- Expected earnings per common share - diluted 2022 range $1.25 - $1.49
- Change in prior EPS guidance $(0.43)
- Change in prior Revenue growth guidance 1.50%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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