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Camden Property Trust (CPT) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Camden Property Trust

CIK: 906345 Ticker: CPT
image1a01a02a25.jpg

CAMDEN PROPERTY TRUST ANNOUNCES THIRD QUARTER 2018 OPERATING RESULTS

Houston, Texas (October 25, 2018) - Camden Property Trust (NYSE:CPT) announced today operating results for the three and nine months ended September 30, 2018. Net Income Attributable to Common Shareholders (“EPS”), Funds from Operations (“FFO”), and Adjusted Funds from Operations (“AFFO”) for the three and nine months ended September 30, 2018 are detailed below. A reconciliation of EPS to FFO is included in the financial tables accompanying this press release.

 
Three Months Ended
Nine Months Ended
 
September 30
September 30
Per Diluted Share
2018
2017
2018
2017
EPS
$0.40
$0.38
$1.22
$1.20
FFO
$1.20
$1.11
$3.54
$3.35
AFFO
$1.00
$0.92
$3.04
$2.87

 
Quarterly Growth
Sequential Growth
Year-to-Date Growth
Same Property Results
3Q18 vs. 3Q17
3Q18 vs. 2Q18
2018 vs. 2017
Revenues
3.1%
1.1%
3.2%
Expenses
1.9%
2.7%
2.4%
Net Operating Income ("NOI")
3.8%
0.2%
3.6%

Same Property Results
3Q18

3Q17

2Q18

Occupancy
95.9
%
95.9
%
95.8
%

“We are pleased to report another strong quarter of performance, with property NOI growth and FFO per share both slightly better than anticipated,” said Richard J. Campo, Camden’s Chairman and CEO.  “As a result, we have increased the midpoint of our 2018 FFO guidance from $4.74 to $4.76 per share, and raised the midpoint of expected same property NOI growth from 3.0% to 3.2%.”

The Company defines same property communities as communities owned and stabilized since January 1, 2017, excluding communities under redevelopment and properties held for sale. A reconciliation of net income to NOI and same property NOI is included in the financial tables accompanying this press release.

Development Activity
During the quarter, construction commenced at Camden Buckhead in Atlanta, GA. Subsequent to quarter-end, lease-up was completed at Camden NoMa II in Washington, DC.

Development Communities - Construction Completed and Projects in Lease-Up ($ in millions)
 
 
Total
Total

% Leased

Community Name
Location
Units
Cost

as of 10/23/2018

Camden NoMa II
Washington, DC
405
$108.4
94
%
Camden Shady Grove
Rockville, MD
457
113.9

85
%
Total
 
862
$222.3

 

1

The following information was filed by Camden Property Trust (CPT) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Camden Property Trust's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Equity
Condensed Consolidated Statements Of Income And Comprehensive Income
Acquisitions, Dispositions, Discontinued Operations And Assets Held For Sale
Acquisitions, Dispositions, Discontinued Operations And Assets Held For Sale (Narrative) (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Common Shares
Common Shares (Narrative) (Details)
Common Shares Common Shares (Tables)
Derivative And Hedging Activities (Details)
Derivative And Hedging Activities Derivative And Hedging Activities (Notes)
Description Of Business
Description Of Business (Details)
Fair Value Measurements
Fair Value Measurements (Fair Value Of Notes Payable) (Details)
Fair Value Measurements (Financial Assets And Liabilities Measured At Fair Value) (Details)
Fair Value Measurements (Narrative) (Details)
Fair Value Measurements (Tables)
Income Taxes
Income Taxes (Details)
Investments In Joint Ventures
Investments In Joint Ventures (Aggregate Balance Sheet And Statement Of Income Data For Unconsolidated Joint Ventures) (Details)
Investments In Joint Ventures (Narrative) (Details)
Investments In Joint Ventures (Tables)
Net Change In Operating Accounts
Net Change In Operating Accounts (Effect Of Changes In The Operating Accounts On Cash Flows From Operating Activities) (Details)
Net Change In Operating Accounts (Tables)
Notes Payable
Notes Payable (Narrative) (Details)
Notes Payable (Scheduled Repayments On Outstanding Debt) (Details)
Notes Payable (Summary Of Indebtedness) (Details)
Notes Payable (Tables)
Per Share Data
Per Share Data (Calculation Of Basic And Diluted Earnings Per Share) (Details)
Per Share Data (Tables)
Related Party Transactions Related Party Transactions
Related Party Transactions Related Party Transactions (Details)
Revenues
Revenues (Details)
Share-Based Compensation And Non-Qualified Deferred Compensation Plan
Share-Based Compensation And Non-Qualified Deferred Compensation Plan (Narrative) (Details)
Share-Based Compensation And Non-Qualified Deferred Compensation Plan (Nqdc Diversified Share Awards Rollforward) (Details)
Share-Based Compensation And Non-Qualified Deferred Compensation Plan (Option Valuation Assumptions) (Details)
Share-Based Compensation And Non-Qualified Deferred Compensation Plan (Summary Of Share Incentive Plans) (Details)
Share-Based Compensation And Non-Qualified Deferred Compensation Plan (Summary Of Share Options Outstanding And Exercisable) (Details)
Share-Based Compensation And Non-Qualified Deferred Compensation Plan (Tables)
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements (Expected Useful Lives Of Depreciable Property) (Details)
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements (Narrative) (Details)
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements (Policies)
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements (Tables)

Material Contracts, Statements, Certifications & more

Camden Property Trust provided additional information to their SEC Filing as exhibits

Ticker: CPT
CIK: 906345
Form Type: 10-Q Quarterly Report
Accession Number: 0000906345-18-000045
Submitted to the SEC: Fri Oct 26 2018 4:26:30 AM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Sunday, September 30, 2018
Industry: Real Estate Investment Trusts

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