Camden Property Trust Provides Update on Hurricane Ian

Rhea-AI Summary

Camden Property Trust (NYSE:CPT) reported minimal damage to its Florida apartment communities due to Hurricane Ian. The company will update stakeholders if circumstances change significantly. Camden operates 171 properties with 58,425 apartment homes, set to expand to 176 properties and 60,267 homes upon completing 5 developments. Recognized by FORTUNE magazine as one of the 100 Best Companies to Work For® for 15 years, Camden continues to demonstrate stability and commitment to its workforce.

Positive

• Minimal damage reported due to Hurricane Ian, indicating effective risk management.
• Expansion plans in progress, increasing portfolio to 60,267 apartment homes.
• Consistent recognition as a top employer reflects strong company culture.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Camden Property Trust (NYSE:CPT) (the “Company”) announced today that preliminary reports indicate only minor damage from Hurricane Ian to the Company's apartment communities located in Florida. The Company will provide additional information or updates in the event of a material change in this situation.

In addition to historical information, this press release contains forward-looking statements under the federal securities law. These statements are based on current expectations, estimates, and projections about the industry and markets in which Camden operates, management's beliefs, and assumptions made by management. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties which are difficult to predict. Factors which may cause the Company’s actual results or performance to differ materially from those contemplated by forward-looking statements are described under the heading “Risk Factors” in Camden’s Annual Report on Form 10-K and in other filings with the Securities and Exchange Commission (SEC). Forward-looking statements made in today’s press release represent management’s current opinions at the time of this publication, and the Company assumes no obligation to update or supplement these statements because of subsequent events.

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 171 properties containing 58,425 apartment homes across the United States. Upon completion of 5 properties currently under development, the Company’s portfolio will increase to 60,267 apartment homes in 176 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/20220930005582/en/

Kim Callahan, 713-354-2549

Source: Camden Property Trust

FAQ

What is the impact of Hurricane Ian on Camden Property Trust's Florida properties?

Camden Property Trust reported only minor damage to its Florida apartment communities from Hurricane Ian.

How many properties does Camden Property Trust currently operate?

Camden Property Trust currently operates 171 properties with 58,425 apartment homes.

What are Camden Property Trust's expansion plans?

Camden plans to expand its portfolio to 60,267 apartment homes across 176 properties upon completing 5 developments.

How long has Camden Property Trust been recognized as a top employer?

Camden Property Trust has been recognized by FORTUNE magazine as one of the 100 Best Companies to Work For® for 15 consecutive years.