NYSE$CPT

Camden Property Trust · Q4 2024 earnings

Q4 2024 earnings · · After market close · Investor relations

Briefing

Camden Property Trust reported its operating results for the fourth quarter of 2024.

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.

Headline financials

Total Revenue

$386M

Previous: $389M-0.7%
EPS (adj)

$1.68

Previous: $1.73-2.9%
Occupancy

95.3%

No prior period
Bad Debt

0.7%

Previous: 1.1%-36.4%
Effective New Lease Rates

-4.7%

Previous: -3.6%-30.6%
Effective Renewal Rates

3.3%

Previous: 4.4%-25.0%
Effective Blended Lease Rates

-1.1%

Previous: -0.1%-1000.0%
Annualized Gross Turnover

41.0%

No prior period
Annualized Net Turnover

31.0%

No prior period
Capital Expenditures

-$87.1M

No prior period
Net Income

$42.6M

Previous: $224M-81.0%
Operating Income

$248M

Previous: $225M+10.3%

Revenue & EPS history

Camden · Revenue · Quarterly

$386M

Q4 2024-0.7%vs Q4 2023
Beat estimate in 3 of 15 quarters(20%)
ActualEstimate

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.

Tailwinds

  • 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.

Headwinds

  • 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%.
  • The guidance for Core FFO excludes approximately $0.10 per share of non-core charges for legal costs and settlements and expensed transaction pursuit costs.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2024

Historical avgQ4 2024

+0.7%

Avg return

Earnings day

+0.7%

Avg return

5 days after

+1.4%

Avg return

30 days after

63%

43 / 68 earnings

Positive

+6.7%

Q2 2024

Best reaction

-8.2%

Q3 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.6%-0.2%+1.4%
Q4 2025+0.1%+3.9%-0.0%
Q3 2025+2.5%+3.4%+4.6%
Q1 2025+5.1%+3.6%+2.3%
Q4 2024+1.2%+0.6%+3.2%
Q3 2024-3.1%+0.5%+7.2%
Q2 2024+6.7%+5.8%+13.0%
Q1 2024+6.6%+7.5%+4.2%
Q4 2023+2.9%+1.6%+2.1%
Q3 2023-8.2%-7.2%-3.0%
Q2 2023+1.3%+1.3%-0.4%
Q1 2023+5.8%+5.1%-0.1%
Q4 2022-1.6%-0.1%-6.2%
Q3 2022-0.1%+0.3%+2.7%
Q2 2022+3.9%+0.9%-0.8%
Q1 2022-3.0%-5.6%-10.3%
Q4 2021+1.9%-0.6%+5.7%
Q3 2021+2.3%+1.3%+4.7%
Q2 2021+2.3%+1.6%+0.5%
Q1 2021+1.4%+0.5%+5.6%
Q4 2020-1.9%-2.5%-1.0%
Q3 2020+4.6%+11.6%+10.8%
Q2 2020-0.5%-2.1%-0.2%
Q1 2020+5.2%+0.1%+16.1%
Q4 2019+1.8%+1.6%-4.0%
Q3 2019-0.2%-2.2%-2.7%
Q2 2019-1.1%-0.9%-0.6%
Q1 2019+0.4%-1.3%+3.0%
Q4 2018+0.1%+1.5%+1.1%
Q3 2018-3.1%-0.5%+0.2%
Q2 2018+0.6%+0.2%+1.9%
Q1 2018+0.6%+1.0%+3.9%
Q4 2017-3.7%-5.6%-9.3%
Q3 2017+0.0%+0.0%+2.9%
Q2 2017+1.2%+1.0%+2.2%
Q1 2017+0.7%-0.3%+3.5%
Q4 2016-2.7%-2.7%-6.4%
Q3 2016-0.3%+1.1%-1.6%
Q2 2016+3.7%+1.7%-0.2%
Q1 2016-1.6%
Q4 2015+3.6%
Q3 2015-3.8%
Q2 2015+1.3%
Q1 2015-1.7%
Q4 2014-1.7%
Q3 2014+1.9%
Q2 2014-1.9%
Q1 2014+1.9%
Q4 2013+2.4%
Q3 2013-5.2%
Q2 2013-0.1%
Q1 2013-0.9%
Q4 2012-1.8%
Q3 2012+2.4%
Q2 2012-0.5%
Q1 2012+0.2%
Q4 2011-1.9%
Q3 2011+1.4%
Q2 2011+0.0%
Q4 2010+0.0%
Q1 2010+0.9%
Q1 2011+1.5%
Q4 2008+2.6%
Q3 2009+0.5%
Q3 2010+0.5%
Q4 2009+4.4%
Q2 2010+4.4%
Q2 2009+4.4%

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