Camden Property Trust Announces Participation in Citi’s 2023 Global Property CEO Conference and Provides First Quarter 2023 Operating Update

Rhea-AI Summary

Camden Property Trust (NYSE:CPT) will participate in Citi’s 2023 Global Property CEO Conference on March 7, 2023, at 2:20 PM ET. The event will be available via live webcast at camdenliving.com. For Q1 2023, same property occupancy remains steady at 95.3%. New lease rates averaged 2.1% and renewal rates at 6.9%. The blended rate stands at 4.2%. Camden operates 172 properties with 58,702 apartment homes and is developing 6 additional properties to expand its portfolio to 60,652 apartment homes.

Positive

• Same property occupancy rate is stable at 95.3%.
• New lease rates increased by 2.1%.
• Renewal rates are at 6.9%, indicating strong tenant retention.
• Blended rates improved to 4.2%.

Negative

• No significant negative aspects reported.

HOUSTON--(BUSINESS WIRE)-- Camden Property Trust (NYSE:CPT) (the “Company”) announced today that the Company will participate in Citi’s 2023 Global Property CEO Conference. Camden’s roundtable discussion has been scheduled for Tuesday, March 7, 2023, at 2:20 PM 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 provided operating statistics for first quarter 2023 as detailed below.

Same Property Occupancy	1Q23*	Jan 2023	Feb 2023
Occupancy	95.3%	95.3%	95.3%
Same Property New Lease and Renewal Data – Date Signed(1)	1Q23*	Jan 2023	Feb 2023
New Lease Rates	2.1%	2.1%	2.0%
Renewal Rates	6.9%	7.1%	6.7%
Blended Rates	4.2%	4.2%	4.1%
Same Property New Lease and Renewal Date – Date Effective(2)	1Q23*	Jan 2023	Feb 2023
New Lease Rates	1.6%	1.2%	2.0%
Renewal Rates	8.0%	8.4%	7.5%
Blended Rates	4.7%	4.8%	4.6%
*1Q23 data through 2/28/23
(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 500 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 172 properties containing 58,702 apartment homes across the United States. Upon completion of 6 properties currently under development, the Company’s portfolio will increase to 60,652 apartment homes in 178 properties. Camden has been recognized as one of the 100 Best Companies to Work For® by FORTUNE magazine for 15 consecutive years, most recently ranking #26.

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/20230303005272/en/

Kim Callahan, 713-354-2549

Source: Camden Property Trust

FAQ

When is Camden Property Trust participating in the Citi Global Property CEO Conference?

Camden Property Trust will participate on March 7, 2023, at 2:20 PM ET.

What is the same property occupancy rate for Camden Property Trust in Q1 2023?

The same property occupancy rate for Q1 2023 is 95.3%.

What are the new lease rates reported by Camden Property Trust for Q1 2023?

Camden Property Trust reported new lease rates of 2.1% for Q1 2023.

What is the renewal rate for Camden Property Trust in Q1 2023?

The renewal rate for Camden Property Trust in Q1 2023 is 6.9%.

How many properties does Camden Property Trust operate?

Camden Property Trust operates 172 properties containing 58,702 apartment homes.