Key Developments: Camden Property Trust (CPT)
71.91USD
23 May 2013
$-1.28 (-1.75%)
$73.19
$72.83
$72.83
$71.27
1,156,361
545,194
$76.06
$62.08
Latest Key Developments (Source: Significant Developments)
Camden Property Trust Names New Chief Financial Officer
Camden Property Trust announced the appointment of Alexander J. Jessett as Chief Financial Officer effective May 9, 2013. Mr. Jessett succeeds Dennis M. Steen, who is retiring after serving as Camden`s Chief Financial Officer since 2003. Mr. Steen will remain with the Company through July 1, 2013 to facilitate the transition. Full Article
Camden Property Trust Raises Low End Of Prior FY 2013 FFO Guidance To A Range In Line With Analysts' Estimates; Issues Q2 2013 Guidance In Line With Analysts' Estimates
Camden Property Trust announced that for fiscal 2013, it expects fund from operation (FFO) to be $3.89 to $4.05 per diluted share, and EPS is expected to be $1.79 to $1.95 per diluted share. For the second quarter of 2013 earnings guidance is $0.96 to $1.00 per diluted share for FFO and $0.34 to $0.38 per diluted share for EPS. Guidance for EPS excludes potential future gains on real estate transactions. Camden intends to update its earnings guidance to the market on a quarterly basis. The Company's 2013 earnings guidance is based on projections of same property revenue growth between 4.75% and 6.25%, expense growth between 3.2% and 4.0%, and NOI growth between 5.5% and 7.5%. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO per share of $3.97 for fiscal 2013 and FFO per share of $0.98 the second quarter of 2013. Full Article
Camden Property Trust Issues Q1, FY 2013 FFO Guidance In Line With Analysts' Estimates; Declares First Quarter 2013 Dividend
Camden Property Trust announced that for fiscal 2013, it expects fund from operation (FFO) to be $3.85 to $4.05 per diluted share, and EPS to be $1.38 to $1.58 per diluted share. For the first quarter of 2013, it expects earnings guidance of $0.92 to $0.96 per diluted share for fund from operation (FFO) and $0.28 to $0.32 per diluted share for EPS. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO per share of $3.94 for fiscal 2013 and FFO per share of $0.94 the first quarter of 2013. The Company also announced that the Board of Trust Managers declared a first quarter 2013 dividend of $0.63 per common share, which is a 12.5% increase over the Company's prior quarterly dividend of $0.56 per share. The dividend is payable on April 17, 2013 to holders of record as of March 28, 2013. Full Article
Camden Property Trust Prices $350 Million 2.950% Senior Unsecured Notes Due 2022
Camden Property Trust announced that it has priced a $350 million offering of senior unsecured notes under its existing shelf registration. These ten-year notes were issued at 98.945% of par value with a coupon of 2.950%. Interest on the notes is payable semi-annually on June 15 and December 15, with the first payment becoming due and payable on June 15, 2013, and the notes will mature on December 15, 2022. The Company expects to use the net proceeds of approximately $343.7 million to repay the outstanding balance on its unsecured line of credit, and the remainder for general corporate purposes, which may include property acquisitions and development in the ordinary course of business, capital expenditures and working capital. Settlement is scheduled for December 7, 2012. BofA Merrill Lynch, J.P. Morgan, US Bancorp and Wells Fargo Securities are Joint Book-Running Managers for the offering. Credit Suisse, Deutsche Bank Securities and SunTrust Robinson Humphrey are Senior Co-Managers, and BB&T Capital Markets, Capital One Southcoast, Mitsubishi UFJ Securities, PNC Capital Markets LLC, Scotiabank are Junior Co-Managers in the transaction. Full Article
Camden Property Trust Announces Fourth Quarter 2012 Dividend
Camden Property Trust announced that it has declared a fourth quarter cash dividend of $0.56 per share to holders of record as of December 17, 2012 of its Common Shares of Beneficial Interest. The dividend is to be paid on January 17, 2013. Full Article
Camden Property Trust Raises FY 2012 FFO Guidance; Issues Q4 2012 FFO Guidance In Line With Analysts' Estimates
Camden Property Trust updated its earnings guidance for fiscal 2012 based on its current and expected views of the apartment market and general economic conditions. Fiscal 2012 FFO is expected to be $3.59 to $3.63 per diluted share, and fiscal 2012 EPS is expected to be $2.06 to $2.10 per diluted share. Fourth quarter 2012 earnings guidance is $0.94 to $0.98 per diluted share for FFO and $0.42 to $0.46 per diluted share for EPS. Guidance for EPS excludes potential future gains on the sale of properties. Camden intends to update its earnings guidance to the market on a quarterly basis. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO per share of $3.56 for fiscal 2012 and FFO per share of $0.94 the fourth quarter of 2012. Full Article
Camden Property Trust Announces Third Quarter 2012 Dividend
Camden Property Trust announced that it declared a third quarter cash dividend of $0.56 per share to holders of record as of September 28, 2012 of its Common Shares of Beneficial Interest. The dividend is to be paid on October 17, 2012. Full Article
Camden Property Trust Issues Q3 2012 FFO Guidance In Line With Analysts' Estimates; Raises FY 2012 FFO Guidance
Camden Property Trust announced that for third quarter of 2012, it expects funds from operations (FFO) in the range of $0.88 to $0.92 per diluted share and EPS in the range of and $0.30 to $0.34 per diluted share for EPS. For fiscal 2012, FFO is expected to be $3.50 to $3.58 per diluted share, and EPS is expected to be $1.94 to $2.02 per diluted share. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report FFO of $0.89 for third quarter of 2012 and FFO of $3.53 for fiscal 2012. Full Article
Camden Property Trust Issues Q2 2012 FFO Guidance In Line With Analysts' Estimates; Raises Low End Of Prior FY 2012 FFO Guidance To A Range In Line With Analysts' Estimates
Camden Property Trust announced that for second quarter of 2012, it expects earnings guidance in the range of $0.85 to $0.89 per diluted share for funds from operations (FFO) and $0.260$0.30 per diluted share for earnings per share (EPS). For fiscal 2012, it expects FFO to be $3.35 to $3.55 per diluted share and EPS to be $1.85 to $2.05 per diluted share. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report FFO of $0.86 for second quarter of 2012 and FFO of $3.47 for fiscal 2012. Full Article
Camden Property Trust Announces First Quarter 2012 Dividend
Camden Property Trust announced that it has declared a first quarter cash dividend of $0.56 per share to holders of record as of March 30, 2012 of its Common Shares of Beneficial Interest. The dividend to be paid on April 17, 2012 equates to an annual dividend rate of $2.24 per share, and represents a 14.3% increase over the Company’s previous dividend rate. Based on Camden’s closing price of $62.51 on March 8, 2012, the annual dividend represents a 3.6% yield. Full Article
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