CAMDEN PROPERTY TRUST

1Q24 EARNINGS CALL

CAMDEN NODA

CAMDEN LONG MEADOW FARMS

CAMDEN DURHAM

CAMDEN WOODMILL CREEK

1Q24 ASSET DISPOSITION

CAMDEN VANTAGE

  • 592-UNIT14-YEAR-OLD COMMUNITY IN ATLANTA, GEORGIA
  • $115M SALES PRICE

UNSECURED NOTES

  • $400M 10-YEAR SENIOR UNSECURED NOTES
    • FIXED COUPON OF 4.90%
    • YIELD OF 4.94%
    • UTILIZED PROCEEDS TO PREPAY OUR $300M TERM LOAN
  • IN JANUARY, REPAID AT MATURITY OUR $250M 4.4% SENIOR UNSECURED NOTE

SHARE REPURCHASE

$50M IN SHARE REPURCHASES

  • $96.88 PER SHARE AVERAGE PRICE
  • $450M REMAINING UNDER SHARE REPURCHASE AUTHORIZATON

BALANCE SHEET

  • 85% FIXED RATE DEBT
  • NO AMOUNTS OUTSTANDING UNDER $1.2B CREDIT FACILITY
  • <$300M OF MATURITIES OVER NEXT 24 MONTHS
  • <$100M REMAINING TO FUND FOR EXISTING DEVELOPMENT PIPELINE
  • 1Q24 NET DEBT TO EBITDA : 3.9x

1Q24 CORE FFO PER SHARE

$1.67

3¢ per share

$1.70

1Q24 GUIDANCE MIDPOINT

1Q24 ACTUAL RESULTS

  • 1.5¢ LOWER THAN ANTICIPATED BAD DEBT
  • 1.5¢ LOWER INSURANCE CLAIMS AND PROPERTY TAXES

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Disclaimer

Camden Property Trust published this content on 05 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 May 2024 13:00:06 UTC.