Camden: Q1 Earnings Snapshot
HOUSTON (AP) _ Camden Property Trust (CPT) on Thursday reported a key measure of profitability in its first quarter. The results topped Wall Street expectations. The real estate investment trust, based in Houston, said it had funds from operations of $160.5 million, or $1.50 per share, in the period. The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of $1.49 per share. Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization. The company said it had net income of $80.7 million, or 76 cents per share. The real estate investment trust posted revenue of $311.4 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $309.7 million. Camden expects full-year funds from operations to be $6.39 to $6.63 per share. _____ This story was generated by Automated Insights (http:||automatedinsights.com|ap) using data from Zacks Investment Research.
Camden: Q1 Earnings Snapshot
HOUSTON (AP) _ Camden Property Trust (CPT) on Thursday reported a key measure of profitability in its first quarter. The results topped Wall Street expectations. The real estate investment trust, based in Houston, said it had funds from operations of $160.5 million, or $1.50 per share, in the period. The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of $1.49 per share. Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization. The company said it had net income of $80.7 million, or 76 cents per share. The real estate investment trust posted revenue of $311.4 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $309.7 million. Camden expects full-year funds from operations to be $6.39 to $6.63 per share. _____ This story was generated by Automated Insights (http:||automatedinsights.com|ap) using data from Zacks Investment Research.