Camden Property Trust Announces Participation in Nareit’s REITweek 2022 Investor Conference and Provides Second Quarter 2022 Operating Update

Rhea-AI Summary

Camden Property Trust (NYSE: CPT) will participate in Nareit’s REITweek 2022 Investor Conference from June 7-9, 2022. The Company reported same property occupancy rates of 97.1% for 1Q22, with April and May 2022 remaining at 96.9%. Key metrics included new lease rates of 15.8% and renewal rates at 13.2%. Blended rates were reported at 14.4% for the same quarter. Camden operates 170 properties, totaling 58,055 apartment homes, and will grow to 59,894 homes upon completing five properties under development. The company ranks #26 in FORTUNE's 100 Best Companies to Work For.

Positive

• Same property occupancy rates remain stable at 97.1% for 1Q22.
• New lease rates increased significantly to 15.8%.
• Renewal rates improved to 13.2%.
• Blended rates show a positive trend at 14.4%.
• The portfolio will expand to 59,894 apartment homes after five properties under development.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Camden Property Trust (NYSE: CPT) (the “Company”) announced today that it will participate in Nareit’s REITweek 2022 Investor Conference which is being held June 7-9, 2022.

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

Same Property Occupancy	1Q22	April 2022	May 2022
Occupancy	97.1%	96.9%	96.9%
Same Property New Lease and Renewal Data – Date Signed(1)(2)	1Q22(2)	April 2022	May 2022
New Lease Rates	15.8%	14.9%	17.5%
Renewal Rates	13.2%	14.3%	14.5%
Blended Rates	14.4%	14.6%	15.9%
Same Property New Lease and Renewal Data – Date Effective(3)(4)	1Q22(4)	April 2022	May 2022
New Lease Rates	16.1%	14.6%	15.8%
Renewal Rates	14.1%	13.2%	13.0%
Blended Rates	15.1%	13.9%	14.3%

(1) Average change in same property new lease and renewal rates vs. expiring lease rates when signed.
(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 effective.
(4) Data represents average monthly leases signed during the period.

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 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 170 properties containing 58,055 apartment homes across the United States. Upon completion of 5 properties currently under development, the Company’s portfolio will increase to 59,894 apartment homes in 175 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/20220606005689/en/

Kim Callahan, 713-354-2549

Source: Camden Property Trust

FAQ

What are the occupancy rates for Camden Property Trust in Q2 2022?

Camden Property Trust reported same property occupancy rates of 97.1% for 1Q22, with April and May 2022 both at 96.9%.

What were the new lease rates for Camden Property Trust in Q2 2022?

The new lease rates for Camden Property Trust were reported at 15.8% in Q2 2022.

What is Camden Property Trust's blended lease rate in Q2 2022?

The blended lease rate for Camden Property Trust was 14.4% in Q2 2022.

When is Camden Property Trust participating in the REITweek 2022 Investor Conference?

Camden Property Trust will participate in the REITweek 2022 Investor Conference from June 7-9, 2022.