The company said net income attributable to common shareholders was $42.9 million for the 3 months ended June 30, 2024, compared with $91.1 million in the same period last year, and $126.8 million for the 6 months, compared with $133.0 million. It cited the 3-month decline, $48.2 million, as primarily due to the gain on the sale of 1 operating property in 2023 totaling $48.9 million.

1. 01

   The company said net income attributable to common shareholders was $42.9 million for the 3 months ended June 30, 2024, compared with $91.1 million in the same period last year, and $126.8 million for the 6 months, compared with $133.0 million. It cited the 3-month decline, $48.2 million, as primarily due to the gain on the sale of 1 operating property in 2023 totaling $48.9 million.

2. 02

   Camden Property Trust said same store revenues rose approximately 1.4% for the 3-month period and 2.0% for the 6-month period, both compared with the same periods in 2024. The company said same store NOI rose approximately $2.0 million for the 3-month period and $7.3 million for the 6-month period, which it attributed to revenue growth exceeding expense growth.

3. 03

   The company said it issued 4.90% senior unsecured notes totaling $400.0 million due January 15, 2034 in January 2024. It said it used part of the net proceeds to repay the outstanding balance of its $300.0 million 6.21% unsecured term loan early, and expensed approximately $0.9 million of unamortized loan costs as a result.

4. 04

   The company said net cash provided by operating activities was approximately $361.0 million for the 6 months ended June 30, 2024, compared with approximately $366.6 million in the same period last year. It also said net cash used in investing activities was approximately $100.5 million and net cash used in financing activities was approximately $426.6 million.

Key figures

Quarter ended June 30, 2024

Revenue

$3M

Net income

$43M

EPS

$0.40

Analysis 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.

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.