Camden Property Trust (CPT) announced its second-quarter financial results on Thursday, with funds from operations (FFO) totaling $187.7 million or $1.71 per share. This marks an increase from last year's FFO of $184.03 million or $1.67 per share.
Net income for the quarter amounted to $44.8 million or $0.40 per share, a decrease from the previous year's $92.9 million or $0.84 per share.
Analysts surveyed by Thomson Reuters had anticipated earnings of $0.40 per share.
The company's revenues for the quarter stood at $387.2 million, slightly up from $385.5 million in the same period last year.
Looking forward, Camden Property Trust expects third-quarter earnings to be in the range of $0.31 to $0.35 per share, with FFO projected between $1.63 and $1.67 per share.
For the 2024 fiscal year, the company forecasts earnings of $1.83 to $1.93 per share and FFO between $6.67 and $6.77 per share.
