Camden Property Trust released its financial report for the fourth quarter on Thursday, announcing a net income of $222.3 million or $2.03 per share. This starkly contrasts last year’s net income that read $45.7 million or $0.42 per share.
In regards to funds from operations (FFO) for the quarter, Camden Property Trust recorded $189.7 million or $1.72 per share, slightly down from last year’s $191.6 million or $1.74 per share. When turning to the core funds from operations for the same quarter, these were $190.5 million or $1.73 per share, just below the previous year’s $191.5 million or $1.74 per share.
The company's core adjusted funds from operations for the quarter stood at $158.6 million or $1.44 per share, also lower than the previous year’s record — $162.4 million or $1.48 per share.
However, the property's revenues demonstrated an increase during the quarter, reaching $387.6 million, up from $375.9 million last year. Analysts, broadly polled by Thomson Reuters, matched their expectations almost precisely, having forecasted earnings of $0.39 per share and revenues of $387.32 million for the quarter.
Looking ahead to the first quarter, the company anticipates earnings per share to range from $0.74 to $0.78. Their predictions for FFO per share extend from $1.62 to $1.66, and Core FFO per share from $1.65 to $1.69.
