Camden: Q2 Earnings Snapshot
HOUSTON (AP) — HOUSTON (AP) — Camden Property Trust (CPT) on Thursday reported a key measure of profitability in its second quarter. The results topped Wall Street expectations.
The Houston-based real estate investment trust said it had funds from operations of $187.6 million, or $1.70 per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of $1.69 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 $91.1 million, or 84 cents per share.
The real estate investment trust, based in Houston, posted revenue of $385.5 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $383.4 million.
For the current quarter ending in September, Camden expects its per-share funds from operations to range from $1.71 to $1.75.
The company expects full-year funds from operations in the range of $6.83 to $6.93 per share.
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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