Camden Property Trust Announces Participation in Nareit’s REITweek 2021 Investor Conference and Provides Second Quarter 2021 Operating Update

Rhea-AI Summary

Camden Property Trust (NYSE: CPT) will participate in Nareit’s REITweek 2021 Investor Conference from June 8-10, 2021, with a discussion scheduled for June 9 at 11:45 AM ET. The conference will be webcast live. Additionally, the company provided its second-quarter operating statistics, reporting collected scheduled rents between 98.4% and 98.5% in April and May. Occupancy rates improved from 96.0% in Q1 to 97.0% in May. Camden recently acquired a 328-home apartment community in Nashville, TN, for $105 million, expanding its portfolio of multifamily communities nationally.

Positive

• Acquired a recently built 328-home apartment community in Nashville for $105 million.
• Strong collection rates: 98.4% in May 2021.
• Improved occupancy from 96.0% in Q1 to 97.0% in May 2021.
• Camden owns and operates 168 properties containing 57,179 apartment homes.

Negative

• New lease rates decreased by 2.2% in Q1 2021.
• Blended rates were only 0.2% in Q1 2021.

Camden Property Trust (NYSE: CPT) (the “Company”) announced today that it will participate in Nareit’s REITweek 2021 Investor Conference which is being held virtually June 8-10, 2021. Camden’s roundtable discussion has been scheduled for Wednesday, June 9, 2021 at 11:45 AM Eastern Time. The event will be webcast live in a listen-only mode and can be accessed by registering for the event at Nareit REITweek 2021.

The Company also provided operating statistics for second quarter 2021 as detailed below.

Same Property Scheduled Rents	1Q21	April 2021	May 2021
Collected	98.4%	98.5%	98.4%
Deferred/Payment Plan Arranged	---%	---%	---%
Delinquent	1.6%	1.5%	1.6%
Same Property Occupancy	1Q21	April 2021	May 2021
Occupancy	96.0%	96.6%	97.0%
Same Property New Lease and Renewal Data – Date Effective(1)(2)	1Q21(2)	April 2021	May 2021
New Lease Rates	(2.2)%	1.8%	4.8%
Renewal Rates	2.9%	3.1%	3.7%
Blended Rates	0.2%	2.4%	4.3%
Same Property New Lease and Renewal Data – Date Signed(3)(4)	1Q21(4)	April 2021	May 2021
New Lease Rates	(0.8)%	4.6%	8.9%
Renewal Rates	3.4%	5.0%	6.5%
Blended Rates	1.2%	4.8%	7.7%

(1) Average change in same property new lease and renewal rates vs. expiring lease rates when effective.

(2) Data represents average monthly leases effective during the period.

(3) Average change in same property new lease and renewal rates vs. expiring lease rates when signed.

(4) Data represents average monthly leases signed during the period.

In addition, the Company acquired a recently constructed, 328-home apartment community in the Nashville, TN metro area for approximately $105 million in early June 2021.

Camden’s complete investor presentation is available in the Investors section of the Company’s website at camdenliving.com.

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 168 properties containing 57,179 apartment homes across the United States. Upon completion of 8 properties currently under development, the Company’s portfolio will increase to 59,787 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/20210607005712/en/

FAQ

What are Camden Property Trust's participation details for REITweek 2021?

Camden Property Trust will participate in Nareit’s REITweek 2021 Investor Conference from June 8-10, 2021, with a roundtable discussion scheduled for June 9 at 11:45 AM ET.

What occupancy rates did Camden Property Trust report for May 2021?

Camden Property Trust reported an occupancy rate of 97.0% for May 2021, up from 96.6% in April.

What were the collected scheduled rents for Camden Property Trust in May 2021?

The collected scheduled rents for Camden Property Trust in May 2021 were 98.4%.

How much did Camden Property Trust pay for its recent acquisition in Nashville?

Camden Property Trust acquired a 328-home apartment community in Nashville for approximately $105 million.

What is Camden Property Trust's stock symbol?

The stock symbol for Camden Property Trust is CPT.