Camden Property Trust Q4 Profit Rises

(RTTNews) - Camden Property Trust (CPT) Thursday reported fourth-quarter net income of $222.3 million or $2.03 per share, compared to $45.7 million or $0.42 per share last year.

Funds from operations for the quarter was $189.7 million or $1.72 per share, compared to $191.6 million or $1.74 per share last year. Core funds from operations for the quarter was $190.5 million or $1.73 per share, compared to $191.5 million or $1.74 per share last year.

Core adjusted funds from operations for the quarter was $158.6 million or $1.44 per share, compared to $162.4 million or $1.48 per share last year.

Property revenues for the quarter was $387.6 million, up from $375.9 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.39 per share and revenues of $387.32 million for the quarter.

Looking forward to the first quarter, the company expects earnings per share of $0.74 to $0.78, FFO per share of $1.62 to $1.66 and Core FFO per share of $1.65 to $1.69.