Camden Property Trust (CPT) reported its second-quarter funds from operations (FFO) at $187.7 million, translating to $1.71 per share, compared to $184.03 million or $1.67 per share in the same period last year.
The company's earnings for the quarter were $44.8 million, or $0.40 per share, down from $92.9 million, or $0.84 per share, in the previous year.
Analysts surveyed by Thomson Reuters had, on average, anticipated a profit of $0.40 per share.
Revenue for the quarter was $387.2 million, slightly up from $385.5 million in the same quarter last year.
Looking forward, Camden Property Trust expects third-quarter earnings to range between $0.31 and $0.35 per share, with FFO anticipated to be between $1.63 and $1.67 per share.
For the fiscal year 2024, the company projects earnings to be in the range of $1.83 to $1.93 per share, and FFO is expected to be between $6.67 and $6.77 per share.
