Camden Property Trust Announces Participation in the 2021 Bank of America Global Real Estate Conference

Rhea-AI Summary

Camden Property Trust (NYSE:CPT) will participate in the Bank of America Global Real Estate Conference from September 21-22, 2021, with its presentation scheduled for September 22 at 10:30 AM ET. The company provided third-quarter operating statistics, reporting a collected rent rate of 98.7% and occupancy of 97.3%. New lease rates increased notably in July and August, with August at 20.4%. Camden operates 172 properties across the U.S. and is set to expand its portfolio to 178 properties with the completion of six developments.

Positive

• Collected rent rate at 98.7%, indicating strong cash flow.
• Occupancy rate of 97.3%, showcasing stable demand.
• Significant increase in new lease rates, reaching 20.0% in August.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Camden Property Trust (NYSE:CPT) (the “Company”) announced today that the Company will participate in the Bank of America Global Real Estate Conference to be held virtually September 21 – 22, 2021. Camden’s presentation has been scheduled for Wednesday, September 22, 2021, at 10:30 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 third quarter 2021 as detailed below.

Same Property Scheduled Rents	2Q21	Jul 2021	Aug 2021	3Q21 (Jul/Aug)
Collected	98.7%	98.4%	99.1%	98.7%
Delinquent	1.3%	1.6%	0.9%	1.3%
Same Property Occupancy	2Q21	Jul 2021	Aug 2021	Sep 2021*	3Q21*
Occupancy	96.9%	97.1%	97.4%	97.5%	97.3%
Same Property New Lease and Renewal Data – Date Signed(1)	2Q21	Jul 2021	Aug 2021	Sep 2021*	3Q21*
New Lease Rates	9.3%	19.0%	20.4%	21.7%	20.0%
Renewal Rates	6.7%	10.7%	12.8%	13.3%	11.9%
Blended Rates	8.0%	14.7%	16.5%	17.8%	15.9%
Same Property New Lease and Renewal Date – Date Effective(2)	2Q21	July 2021	Aug 2021	Sep 2021*	3Q21*
New Lease Rates	5.4%	13.2%	18.2%	18.9%	16.0%
Renewal Rates	4.0%	6.3%	8.4%	10.9%	8.0%
Blended Rates	4.7%	9.7%	12.7%	14.5%	11.7%

(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 172 properties containing 58,682 apartment homes across the United States. Upon completion of 6 properties currently under development, the Company’s portfolio will increase to 60,587 apartment homes in 178 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/20210920005863/en/

 Kim Callahan, 713-354-2549

Source: Camden Property Trust

FAQ

What are Camden Property Trust's operating statistics for Q3 2021?

Camden Property Trust reported a collected rent rate of 98.7%, an occupancy rate of 97.3%, and new lease rates increased to 20.0% in August 2021.

When will Camden Property Trust present at the Bank of America Global Real Estate Conference?

Camden Property Trust is scheduled to present on September 22, 2021, at 10:30 AM Eastern Time.

How many properties does Camden Property Trust operate?

Camden Property Trust currently operates 172 properties and is set to expand to 178 properties upon the completion of six ongoing developments.

What was Camden Property Trust's occupancy rate in August 2021?

The occupancy rate for Camden Property Trust in August 2021 was 97.4%.