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Dec 31, 2022
Camden Q4 2022 Earnings Report
Camden Property Trust announced its operating results for Q4 2022, including EPS of $0.42, FFO of $1.74, and AFFO of $1.48 per diluted share.
Key Takeaways
Camden Property Trust reported strong operating results for the three months ended December 31, 2022. The company's EPS was $0.42, FFO was $1.74, and AFFO was $1.48 per diluted share. Same property revenue increased by 9.9% year-over-year, and NOI increased by 10.9%.
EPS for Q4 2022 was $0.42 per diluted share, compared to $2.02 in Q4 2021.
FFO for Q4 2022 was $1.74 per diluted share, compared to $1.51 in Q4 2021.
AFFO for Q4 2022 was $1.48 per diluted share, compared to $1.30 in Q4 2021.
Same property occupancy was 95.8% in Q4 2022, compared to 97.1% in Q4 2021.
Camden
Camden
Forward Guidance
Camden provided initial earnings guidance for 2023 based on its current and expected views of the apartment market and general economic conditions, and provided guidance for first quarter 2023 as detailed below.
Positive Outlook
- Expected FFO per share - diluted $6.70 - $7.00
- Total Revenue Growth 4.10% - 6.10%
- Net Operating Income Growth 3.50% - 6.50%
- Acquisition Volume (consolidated on balance sheet) $0 - $500 million
- Disposition Volume (consolidated on balance sheet) $0 - $500 million
Challenges Ahead
- Expected earnings per common share - diluted $1.53 - $1.83
- Total Expense Growth 4.75% - $6.25%
- General and Administrative Expenses $60 - $64 million
- Property Management Expense $31 - $35 million
- CapitalExpensed Interest $135 - $139 million