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Camden Property Trust (CPT)

Camden Property Trust, an S&P 400 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 167 properties containing 56,850 apartment homes across the United States. Upon completion of 7 properties currently under development, the Company's portfolio will increase to 59,104 apartment homes in 174 properties. Camden has been recognized as one of the 100 Best Companies to Work For® by FORTUNE magazine for 13 consecutive years, most recently ranking #18. The Company also received a Glassdoor Employees' Choice Award in 2020, ranking #25 for large U.S. companies.

Company profile

Ticker
CPT
Exchange
CEO
Richard Campo
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Camden Operating, L.P. • Camden USA, Inc. • Camden Development, Inc. • Camden Summit Partnership, L.P. ...
IRS number
766088377

CPT stock data

Calendar

29 Jul 22
9 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 78.66M 78.66M 78.66M 78.66M 78.66M 78.66M
Cash burn (monthly) 352.28M 25.06M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 473.01M 33.64M n/a n/a n/a n/a
Cash remaining -394.35M 45.02M n/a n/a n/a n/a
Runway (months of cash) -1.1 1.8 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
12 May 22 Brunner Heather J. Common Shares Grant Acquire A No No 0 1,527 0 10,751
12 May 22 Gibson Mark Common Shares Grant Acquire A No No 0 1,527 0 5,892
12 May 22 Ingraham Scott S Common Shares Grant Acquire A No No 0 1,527 0 55,898
12 May 22 Webster Steven A Common Shares Grant Acquire A No No 0 1,527 0 111,096
12 May 22 Sevilla-Sacasa Frances Aldrich Common Shares Grant Acquire A No No 0 1,527 0 19,917
13F holders Current Prev Q Change
Total holders 509 496 +2.6%
Opened positions 64 86 -25.6%
Closed positions 51 39 +30.8%
Increased positions 196 182 +7.7%
Reduced positions 168 147 +14.3%
13F shares Current Prev Q Change
Total value 18.48B 17.56B +5.2%
Total shares 97.05M 98.32M -1.3%
Total puts 52.6K 32.4K +62.3%
Total calls 43.9K 63.7K -31.1%
Total put/call ratio 1.2 0.5 +135.6%
Largest owners Shares Value Change
Vanguard 14.96M $2.49B +2.8%
BLK Blackrock 12.44M $2.07B -2.0%
CNS Cohen & Steers 7.34M $1.22B NEW
STT State Street 6.07M $1.01B +9.8%
JPM JPMorgan Chase & Co. 3.67M $609.48M +2.2%
TROW T. Rowe Price 2.09M $347.54M -67.7%
GS Goldman Sachs 2.07M $344.01M +28.5%
Victory Capital Management 1.83M $304.25M +1.0%
IVZ Invesco 1.69M $281.65M -10.7%
Geode Capital Management 1.61M $267.55M -1.4%
Largest transactions Shares Bought/sold Change
CNS Cohen & Steers 7.34M +7.34M NEW
TROW T. Rowe Price 2.09M -4.39M -67.7%
BX Blackstone 0 -3.04M EXIT
Norges Bank 0 -2.29M EXIT
Capital World Investors 1M -1.58M -61.2%
DSECF Daiwa Securities 1.13M +1.09M +2916.8%
STT State Street 6.07M +540.68K +9.8%
Lord, Abbett & Co. 182.71K -475.97K -72.3%
Renaissance Technologies 587.8K +466.4K +384.2%
GS Goldman Sachs 2.07M +459.44K +28.5%

Financial report summary

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Risks
  • Volatility in capital and credit markets, or other unfavorable changes in economic conditions, either nationally or regionally in one or more of the markets in which we operate, could adversely impact us.
  • Short-term leases could expose us to the effects of declining market rents.
  • Competition could limit our ability to lease apartments or increase or maintain rental income.
  • We could be negatively impacted by the risks associated with land holdings and related activities.
  • Development, repositions, redevelopment and construction risks could impact our profitability.
  • We could be impacted by our investments through joint ventures and investment funds which involve risks not present in investments in which we are the sole investor.
  • Our acquisition strategy may not produce the cash flows expected.
  • Failure to qualify as a REIT could have adverse consequences.
  • Tax laws may continue to change at any time and any such legislative or other actions could have a negative effect on us.
  • A cybersecurity incident and other technology disruptions could negatively impact our business.
  • We have significant debt, which could have adverse consequences.
  • Insufficient cash flows could limit our ability to make required payments for debt obligations or pay distributions to shareholders.
  • Issuances of additional debt may adversely impact our financial condition.
  • We may be unable to renew, repay, or refinance our outstanding debt.
  • Failure to maintain our current credit ratings could adversely affect our cost of funds, related margins, liquidity, and access to capital markets.
  • We may be adversely affected by the phase out of LIBOR.
  • Share ownership limits and our ability to issue additional equity securities may prevent takeovers beneficial to shareholders.
  • The form, timing and amount of dividend distributions in future periods may vary and be impacted by economic and other considerations.
  • Competition could adversely affect our ability to acquire properties.
  • Litigation risks could affect our business.
  • Damage from catastrophic weather and other natural events could result in losses.
  • We could be adversely impacted due to our share price fluctuations.
Management Discussion
  • Changes in revenues and expenses related to our operating properties from period to period are due primarily to the performance of stabilized properties in the portfolio, the lease-up of newly constructed properties, and the impact of acquisitions, and dispositions. Selected weighted averages for the three and six months ended June 30, 2022 and 2021 are as follows:
  • Management considers property net operating income ("NOI") to be an appropriate supplemental measure of operating performance to net income because it reflects the operating performance of our communities without an allocation of corporate level property management overhead or general and administrative costs. We define NOI as property revenue less property operating and maintenance expenses less real estate taxes. NOI is further detailed in the Property-Level NOI table as seen below. NOI is not defined by accounting principles generally accepted in the United States of America ("GAAP") and should not be considered an alternative to net income as an indication of our operating performance. Additionally, NOI as disclosed by other REITs may not be comparable to our calculation.
  • * Not a meaningful percentage.

Content analysis

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H.S. sophomore Avg
New words: centralizing, made, master, ranging, remeasured, remeasurement, workforce
Removed: Initial, occupancy, occur, principally