Camden Property Trust - CPT STOCK NEWS

Camden Property Trust (NYSE: CPT) announced a public offering of 2,900,000 common shares, intending to use the proceeds to reduce borrowings under its $900 million unsecured line of credit and for general corporate purposes, including financing acquisitions and development activities. The offering is underwritten by BofA Securities and Wells Fargo Securities, with an option for underwriters to purchase an additional 435,000 shares. Camden owns and operates 170 properties comprising 58,055 apartment homes, and expects to expand to 175 properties with 59,828 homes upon completion of current developments.

Camden Property Trust (NYSE:CPT) will announce its Q1 2022 earnings on April 28, 2022, after market close. A conference call will follow on April 29, 2022, at 10:00 AM Central Time. The earnings release will be accessible in the Investors section of Camden's website. Camden manages 170 properties with 58,055 apartment homes across the U.S. They are recognized as one of the 100 Best Companies to Work For by FORTUNE for 14 years, ranking #8 this year.

Camden Property Trust (NYSE:CPT) announced the acquisition of all outstanding partnership interests in its two discretionary investment funds from the Teacher Retirement System of Texas, effective April 1, 2022. The deal involved 22 multifamily communities with 7,247 apartment homes, valued at approximately $2.1 billion. Camden previously held 31.3% of the funds and acquired the remaining 68.7% for about $1.1 billion after assuming $520 million in mortgage debt. Camden will also join the S&P 500 index effective April 4, 2022, further solidifying its market position.

Camden Property Trust (NYSE:CPT) announced the acquisition of all outstanding partnership interests in its two discretionary investment funds from the Teacher Retirement System of Texas for approximately $1.1 billion, based on a gross asset valuation of $2.1 billion. Camden currently owns 31.3% of the Funds and will acquire the remaining 68.7%. This acquisition includes 22 multifamily communities with 7,247 apartment homes and is expected to provide an initial FFO yield of approximately 4.25%, contributing about $0.08 per share of accretion to prior FFO guidance.

Camden Property Trust (NYSE:CPT) will participate in the Citi 2022 Global Property CEO Conference on March 9, 2022, at 9:00 AM ET, with a live webcast available on their website. The company reported first quarter 2022 operating statistics, maintaining a same property occupancy of 97.1% in January and 97.0% in February. New lease rates increased to 16.6% for Q4 2021, while blended rates remained strong at 15.3%. Camden operates 171 properties with over 58,300 apartment homes and is recognized as one of the 100 Best Companies to Work For.

Camden Property Trust (NYSE:CPT) reported financial results for Q4 and FY 2021, showcasing significant growth. EPS rose to $2.02 from $0.29 YoY, FFO increased to $1.51 from $1.21, and AFFO climbed to $1.30 from $1.00. Revenues grew by 8.5% QoQ, and expenses decreased by 2.3%. The company maintained a strong occupancy rate of 97.1% and declared a dividend of $0.94 per common share, payable April 18, 2022. Initial 2022 earnings guidance predicts EPS between $1.65 and $1.95, and FFO between $6.09 and $6.39.

Camden Property Trust (NYSE:CPT) has appointed Javier E. Benito as an independent Trust Manager effective February 1, 2022. Benito brings extensive experience from Yum! Brands, where he served as General Manager for KFC Latin America and the Caribbean. His prior roles include Chief Strategy Officer and Managing Director. This appointment coincides with the upcoming retirement of William F. Paulsen, anticipated at the May 12, 2022 annual shareholder meeting. Camden, which manages 171 properties across the U.S., continues to be recognized among the top workplaces by FORTUNE magazine.

Camden Property Trust (NYSE:CPT) announced the tax characteristics of its 2021 distributions to shareholders, aiding financial institutions in reporting on Form 1099-DIV. For four distributions of $0.83 per share, the record and payment dates range from March 31 to December 16, 2021, with payment dates in April, July, October, and January 2022. Key breakdowns include ordinary taxable dividends and capital gain distributions. Shareholders are encouraged to consult their advisors regarding tax implications, as treatments may differ. Camden operates 171 properties across the U.S., with plans to expand to 176 properties.

Camden Property Trust (NYSE:CPT) will release its fourth quarter 2021 earnings after market close on February 3, 2022. A conference call for analysts and investors will follow on February 4, 2022, at 10:00 AM Central Time. The call can be accessed via domestic dial-in number (888) 317-6003 or international dial-in number (412) 317-6061. The earnings release and supplemental data will be available on the company’s investor website. Camden operates 171 properties with 58,300 apartment homes, set to expand to 176 properties and 60,073 homes post-completion of 5 ongoing developments.