Camden Property Trust Announces Participation in Citi’s 2022 Global Property CEO Conference and Provides First Quarter 2022 Operating Update

Rhea-AI Summary

Camden Property Trust (NYSE:CPT) will participate in the Citi 2022 Global Property CEO Conference on March 9, 2022, at 9:00 AM ET, with a live webcast available on their website. The company reported first quarter 2022 operating statistics, maintaining a same property occupancy of 97.1% in January and 97.0% in February. New lease rates increased to 16.6% for Q4 2021, while blended rates remained strong at 15.3%. Camden operates 171 properties with over 58,300 apartment homes and is recognized as one of the 100 Best Companies to Work For.

Positive

• First quarter 2022 same property occupancy rates: 97.1% in January and 97.0% in February.
• New lease rates rose to 16.6% for Q4 2021.
• Blended rates remained strong at 15.3%.
• Operating a portfolio of 171 properties totaling 58,300 apartment homes with further development ongoing.

Negative

• No significant negative aspects were reported.

HOUSTON--(BUSINESS WIRE)-- Camden Property Trust (NYSE:CPT) (the “Company”) announced today that the Company will participate in the Citi 2022 Global Property CEO Conference. Camden’s roundtable discussion has been scheduled for Wednesday, March 9, 2022, at 9:00 AM Eastern Time. The event will be webcast live in a listen-only mode at camdenliving.com in the Investors section, and an audio archive will be available on the Company’s website shortly after the event concludes. A copy of Camden’s most recent investor presentation will also be available in the Investors section of the Company’s website.

The Company also provided operating statistics for first quarter 2022 as detailed below.

Same Property Occupancy	4Q21	Jan 2022	Feb 2022
Occupancy	97.1%	97.1%	97.0%
Same Property New Lease and Renewal Data – Date Signed(1)	4Q21	Jan 2022	Feb 2022
New Lease Rates	16.6%	16.8%	15.7%
Renewal Rates	13.9%	13.4%	13.0%
Blended Rates	15.3%	15.0%	14.3%
Same Property New Lease and Renewal Date – Date Effective(2)	4Q21	Jan 2022	Feb 2022
New Lease Rates	17.7%	16.7%	15.6%
Renewal Rates	13.3%	14.7%	13.0%
Blended Rates	15.6%	15.7%	14.3%
(1) Average change in same property new lease and renewal rates vs. expiring lease rates when signed.
(2) Average change in same property new lease and renewal rates vs. expiring lease rates when effective.

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 171 properties containing 58,300 apartment homes across the United States. Upon completion of 5 properties currently under development, the Company’s portfolio will increase to 60,073 apartment homes in 176 properties. Camden has been recognized as one of the 100 Best Companies to Work For® by FORTUNE magazine for 14 consecutive years, most recently ranking #8.

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/20220304005508/en/

Kim Callahan, 713-354-2549

Source: Camden Property Trust

FAQ

What is Camden Property Trust's stock symbol?

The stock symbol for Camden Property Trust is CPT.

When is Camden Property Trust's participation in the Citi 2022 Global Property CEO Conference?

Camden Property Trust will participate in the conference on March 9, 2022, at 9:00 AM ET.

What was the occupancy rate for Camden Property Trust in January 2022?

The occupancy rate for Camden Property Trust in January 2022 was 97.1%.

How much did new lease rates increase for Camden Property Trust?

New lease rates for Camden Property Trust increased to 16.6% for Q4 2021.

How many apartment homes does Camden Property Trust operate?

Camden Property Trust operates over 58,300 apartment homes across 171 properties.