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

NYSE

Website

www.camdenliving.com

CEO

Richard Campo

Incorporated

Texas

Location

Texas

Fiscal year end

Dec 31

Sector

Finance and Insurance > Other Financial Vehicles

Industry (SIC)

Real Estate Investment Trusts

Annaly Capital Management • AGNC Investment • Simon Property • VEREIT • Prologis • Vornado Realty Trust • Vornado Realty • Welltower • Healthpeak Properties • Erp Operating LTD Partnership ...

SEC CIK

0000906345

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Camden Operating, L.P. • Camden USA, Inc. • Camden Development, Inc. • Camden Summit Partnership, L.P. ...

IRS number

766088377

CPT stock data

1M 1Y 5Y

News

From Benzinga Pro

What 8 Analyst Ratings Have To Say About Camden Prop Trust

1 Aug 22

Camden Prop Trust (NYSE:CPT) has observed the following analyst ratings within the last quarter:

RBC Capital Maintains Outperform on Camden Prop Trust, Raises Price Target to $155

1 Aug 22

RBC Capital analyst Brad Heffern maintains Camden Prop Trust (NYSE:CPT) with a Outperform and raises the price target from $150 to $155.

Camden Prop Trust Q2 AFFO $1.44 Beats $0.55 Estimate, Sales $361.72M Beat $343.54M Estimate

28 Jul 22

Camden Prop Trust (NYSE:CPT) reported quarterly earnings of $1.44 per share which beat the analyst consensus estimate of $0.55 by 161.82 percent. This is a 12.5 percent increase over earnings of $1.28 per share from the

Earnings Scheduled For July 28, 2022

28 Jul 22

Jim Cramer's REIT Picks From April Reveal Alarming Truth

21 Jul 22

Press releases

From Benzinga Pro

Camden Property Trust Announces Second Quarter 2022 Operating Results

28 Jul 22

Camden Property Trust (NYSE:CPT) (the "Company") announced today operating results for the three and six months ended June 30, 2022. Net Income Attributable to Common Shareholders ("EPS"), Funds from Operations

Camden Property Trust Announces Second Quarter 2022 Earnings Release and Conference Call Dates

6 Jul 22

Camden Property Trust (NYSE:CPT) (the "Company") announced today that its second quarter 2022 earnings will be released after the market closes on Thursday, July 28, 2022. Management will host a conference call on the

Camden Property Trust Announces Second Quarter 2022 Dividend

15 Jun 22

The Board of Trust Managers of Camden Property Trust (NYSE:CPT) (the "Company") declared a second quarter cash dividend of $0.94 per share to holders of record as of June 30, 2022 of its Common Shares of Beneficial

Camden Property Trust Announces Participation in Nareit's REITweek 2022 Investor Conference and Provides Second Quarter 2022 Operating Update

6 Jun 22

Analyst ratings and price targets

Last 3 months

Average target

$157.00

Low target

$142.00

High target

$174.00

Barclays

Maintains

Overweight

$174.00

10 May 22

Calendar

29 Jul 22

9 Aug 22

31 Dec 22

Financial summary

Financial statements Chart CPT financial data

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

Financial data from company earnings reports.

Recent insider trades

CPT insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	#Shares	#Remaining
12 May 22	Brunner Heather J.	Common Shares	Grant	Acquire A	No	No	1,527	10,751
12 May 22	Gibson Mark	Common Shares	Grant	Acquire A	No	No	1,527	5,892
12 May 22	Ingraham Scott S	Common Shares	Grant	Acquire A	No	No	1,527	55,898
12 May 22	Webster Steven A	Common Shares	Grant	Acquire A	No	No	1,527	111,096
12 May 22	Sevilla-Sacasa Frances Aldrich	Common Shares	Grant	Acquire A	No	No	1,527	19,917

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

CPT institutional ownership history Ownership history

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%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

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.