Camden Property Trust Q1 Income Retreats, but beats estimates

(RTTNews) - Camden Property Trust (CPT) released a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $41.92 million, or $0.39 per share. This compares with $80.75 million, or $0.76 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.5% to $378.16 million from $311.36 million last year.

Camden Property Trust earnings at a glance (GAAP) :

-Earnings (Q1): $41.92 Mln. vs. $80.75 Mln. last year. -EPS (Q1): $0.39 vs. $0.76 last year. -Analyst Estimates: $0.32 -Revenue (Q1): $378.16 Mln vs. $311.36 Mln last year.

-Guidance: Next quarter EPS guidance: $0.38 - $0.42 Full year EPS guidance: $1.57 - $1.81