Camden Property Trust Announces Fourth Quarter 2024 Dividend

Rhea-AI Summary

Camden Property Trust (NYSE:CPT) has declared a fourth quarter cash dividend of $1.03 per share for shareholders of record as of December 18, 2024, payable on January 17, 2025. The company, an S&P 500 member, currently owns and operates 172 properties with 58,250 apartment homes across the United States. Upon completion of 5 properties under development, Camden's portfolio will expand to 59,996 apartment homes across 177 properties.

Positive

• Consistent dividend payment maintained at $1.03 per share
• Portfolio expansion in progress with 5 new properties under development
• Addition of 1,746 new apartment homes upon completion of development projects

Negative

• None.

Insights

Financial Analyst

The quarterly dividend announcement of $1.03 per share maintains Camden Property Trust's consistent dividend policy, representing an annualized yield of approximately 4.1% based on current stock prices. While dividend maintenance signals financial stability, it's worth noting that there's no increase from previous quarters, suggesting conservative cash management amid current real estate market conditions.

The company's portfolio of 172 properties with 58,250 apartment homes, plus 5 development projects that will add 1,746 units, demonstrates steady growth. The multifamily sector continues to show resilience, though rising interest rates and construction costs are key challenges facing REITs in this space. Camden's S&P 500 status and consistent workplace recognition indicate strong operational fundamentals and management quality.

HOUSTON--(BUSINESS WIRE)-- The Board of Trust Managers of Camden Property Trust (NYSE:CPT) (the “Company”) declared a fourth quarter cash dividend of $1.03 per share to holders of record as of December 18, 2024 of its Common Shares of Beneficial Interest. The dividend is to be paid on January 17, 2025.

Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 172 properties containing 58,250 apartment homes across the United States. Upon completion of 5 properties currently under development, the Company’s portfolio will increase to 59,996 apartment homes in 177 properties. Camden has been recognized as one of the 100 Best Companies to Work For® by FORTUNE magazine for 17 consecutive years, most recently ranking #24.

For additional information, please contact Camden’s Investor Relations Department at (713) 354-2787 or access our website at camdenliving.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241204653306/en/

Kim Callahan, 713-354-2549

Source: Camden Property Trust

FAQ

When will Camden Property Trust (CPT) pay its Q4 2024 dividend?

Camden Property Trust will pay its Q4 2024 dividend of $1.03 per share on January 17, 2025, to shareholders of record as of December 18, 2024.

How many properties does Camden Property Trust (CPT) currently own?

Camden Property Trust currently owns and operates 172 properties containing 58,250 apartment homes across the United States.

How many new properties is Camden Property Trust (CPT) developing?

Camden Property Trust is currently developing 5 new properties, which will increase its portfolio to 177 properties with 59,996 apartment homes upon completion.