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Dec 31, 2024
Camden Q4 2024 Earnings Report
Camden Property Trust reported its operating results for the fourth quarter of 2024.
Key Takeaways
Camden Property Trust announced its fourth quarter 2024 operating results, with EPS at $0.37 and FFO at $1.68. The company's revenues were $386.3 million, and net income attributable to common shareholders was $40.691 million.
EPS for Q4 2024 was $0.37, a decrease from $2.03 in Q4 2023.
FFO per diluted share was $1.68, slightly down from $1.72 in Q4 2023.
Total property revenues for Q4 2024 were $386.319 million, a slight decrease from $387.587 million in Q4 2023.
Same property NOI increased by 1.2% in Q4 2024 compared to Q4 2023.
Forward Guidance
Camden provided initial earnings guidance for 2025, expecting FFO per diluted share to be between $6.50 and $6.80, and Core FFO per diluted share between $6.60 and $6.90. For Q1 2025, FFO is expected to be between $1.64 and $1.68.
Positive Outlook
- Expected total revenue growth for 2025 is between 0.00% and 2.00%.
- Expected NOI growth for 2025 is between -1.50% and 1.50%.
- Anticipated acquisition volume for 2025 is between $600 million and $900 million.
- Anticipated development starts for 2025 are between $175 million and $675 million.
- Expected non-property income for 2025 is between $7 million and $9 million.
Challenges Ahead
- Expected total expense growth for 2025 is between 2.25% and 3.75%.
- 2025 Rental Rate Earn-In based on 2024 Results is 0.0%.
- Expected bad debt midpoint for 2025 is 0.7%.
- Expected occupancy midpoint for 2025 is 95.4%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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