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Camden: 2Q Earnings Snapshot

July 25, 2019

HOUSTON (AP) _ Camden Property Trust (CPT) on Thursday reported a key measure of profitability in its second quarter. The results exceeded Wall Street expectations.

The real estate investment trust, based in Houston, said it had funds from operations of $128.6 million, or $1.28 per share, in the period.

The average estimate of 11 analysts surveyed by Zacks Investment Research was for funds from operations of $1.27 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 $42.4 million, or 43 cents per share.

The real estate investment trust posted revenue of $255.8 million in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $252.4 million.

Camden expects full-year funds from operations to be $5.03 to $5.15 per share.

The company’s shares have climbed 22% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $107.65, a rise of 19% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CPT at https://www.zacks.com/ap/CPT

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