AI English summary of an SEC filing — figures as filed
Camden Property Trust CPTThe company said net income attributable to common shareholders fell to $403.3 million in 2023 from $653.6 million in 2022. It cited as factors the $474.1 million remeasurement gain recognized in 2022 on the Funds acquisition and higher interest expense.
Key points
AI summaryThe company said net income attributable to common shareholders fell to $403.3 million in 2023 from $653.6 million in 2022. It cited as factors the $474.1 million remeasurement gain recognized in 2022 on the Funds acquisition and higher interest expense.
Camden Property Trust said same store revenues rose about 5.1% in 2023. It said same store property NOI increased about $33.2 million, the result of an increase of about $60.3 million in revenues less an increase of about $27.1 million in expenses.
The company said it recognized a $225.4 million gain on sale in 2023 from the disposition of 2 operating properties in Costa Mesa, California. It said interest expense rose about $20.0 million, citing a $300 million term loan and $500 million of unsecured notes issued.
The company said net cash provided by operating activities for fiscal 2023 was about $795.0 million, net cash used in investing activities was about $127.1 million, and net cash used in financing activities was about $417.2 million.
Key figures
Fiscal year ended December 31, 2023
- Revenue
- $3M
- Net income
- $403M
- EPS
- $3.70
- Operating cash flow
- $795M
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Net Income Decline and 2022 Funds Remeasurement Gain
The company said net income attributable to common shareholders fell to $403.3 million in 2023 from $653.6 million in 2022. It cited as factors the $474.1 million remeasurement gain recognized in 2022 on the Funds acquisition and higher interest expense.
Source · Based on the MD&A text of the filing
Same Store Revenue Up 5.1% and NOI
Camden Property Trust said same store revenues rose about 5.1% in 2023. It said same store property NOI increased about $33.2 million, the result of an increase of about $60.3 million in revenues less an increase of about $27.1 million in expenses.
Source · Based on the MD&A text of the filing
Disposition Gains and Higher Interest Expense
The company said it recognized a $225.4 million gain on sale in 2023 from the disposition of 2 operating properties in Costa Mesa, California. It said interest expense rose about $20.0 million, citing a $300 million term loan and $500 million of unsecured notes issued.
Source · Based on the MD&A text of the filing
Operating, Investing and Financing Cash Flows
The company said net cash provided by operating activities for fiscal 2023 was about $795.0 million, net cash used in investing activities was about $127.1 million, and net cash used in financing activities was about $417.2 million.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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