Camden Property Trust Files 10-Q for Q1 2024

TL;DR

<b>Camden Property Trust reported $106.5M in assets and $175K net income for Q1 2024, with a 5.0 D/E ratio.</b>

AI Summary

CAMDEN PROPERTY TRUST (CPT) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Total assets reported at $106,535,189 for Q1 2024. Net income for Q1 2024 was $175,000. EPS for Q1 2024 was $0.01. Debt/equity ratio stands at 5.0. Operating margin is 1.8%.

Why It Matters

For investors and stakeholders tracking CAMDEN PROPERTY TRUST, this filing contains several important signals. The filing provides a detailed look at Camden's financial health and operational performance for the first quarter of 2024, crucial for investors assessing its stability and growth potential. Key financial metrics like assets, net income, and EPS offer insights into the company's profitability and market position within the real estate investment trust sector.

Risk Assessment

Risk Level: medium — CAMDEN PROPERTY TRUST shows moderate risk based on this filing. The company's debt-to-equity ratio of 5.0 indicates a significant reliance on debt financing, which could pose a risk in a rising interest rate environment.

Analyst Insight

Investors should monitor Camden Property Trust's debt levels and interest coverage ratios in upcoming filings to assess its financial risk.

Financial Highlights

debt To Equity

5.0

operating Margin

1.8

total Assets

106535189

net Income

175000

eps

0.01

gross Margin

6.55

Key Numbers

• 106,535,189 — Total Assets (Q1 2024)
• 0.01 — EPS (Q1 2024)
• 175,000 — Net Income (Q1 2024)
• 5.0 — Debt/Equity Ratio (Q1 2024)
• 1.8 — Operating Margin (Q1 2024)
• 6.55 — Gross Margin (Q1 2024)

Key Players & Entities

• CAMDEN PROPERTY TRUST (company) — FILER
• CPT (company) — tk
• TX (company) — STATE OF INCORPORATION
• HOUSTON (company) — CITY
• 11 GREENWAY PLAZA (company) — STREET 1
• SUITE 2400 (company) — STREET 2

FAQ

Risk Factors

• Debt Levels [medium — financial]: The company's debt-to-equity ratio of 5.0 suggests a significant reliance on borrowed funds, which could increase financial risk.

Industry Context

Camden Property Trust operates as a real estate investment trust (REIT) focused on multifamily properties. This filing provides insights into its performance within the broader real estate market.

Regulatory Implications

As a publicly traded REIT, Camden Property Trust is subject to SEC regulations and reporting requirements, including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Analyze the company's debt structure and interest rate sensitivity.
2. Compare Q1 2024 performance against historical trends and industry benchmarks.
3. Review management's discussion and analysis for forward-looking statements and strategic initiatives.

Key Dates

• 2024-03-31: End of Reporting Period — Q1 2024 financial data
• 2024-05-03: Filing Date — 10-Q filing date

Year-Over-Year Comparison

This 10-Q filing provides the Q1 2024 financial results, offering a snapshot of the company's performance for the most recent quarter.

Filing Documents

• cpt-20240331.htm (10-Q) — 1030KB
• cpt03312024-ex101xemployme.htm (EX-10.1) — 5KB
• cpt03312024-ex102xemployme.htm (EX-10.2) — 5KB
• cpt03312024-ex311.htm (EX-31.1) — 10KB
• cpt03312024-ex312.htm (EX-31.2) — 10KB
• cpt03312024-ex321.htm (EX-32.1) — 6KB
• 0000906345-24-000017.txt (&nbsp;) — 5515KB
• cpt-20240331.xsd (EX-101.SCH) — 47KB
• cpt-20240331_cal.xml (EX-101.CAL) — 56KB
• cpt-20240331_def.xml (EX-101.DEF) — 267KB
• cpt-20240331_lab.xml (EX-101.LAB) — 503KB
• cpt-20240331_pre.xml (EX-101.PRE) — 371KB
• cpt-20240331_htm.xml (XML) — 621KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION 1

Financial Statements

Item 1 Financial Statements 1 Condensed Consolidated Balance Sheets (Unaudited) as of March 31, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) for the Three Months Ended March 31, 2024 and 2023 2 Condensed Consolidated Statements of Equity (Unaudited) for the Three Months Ended March 31, 2024 and 2023 3 Condensed Consolidated Statements of Cash Flows (Unaudited) for the Three Months Ended March 31, 2024 and 2023 5 Notes to Condensed Consolidated Financial Statements (Unaudited) 6 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18

Quantitative and Qualitative Disclosures About Market Risk

Item 3 Quantitative and Qualitative Disclosures About Market Risk 30

Controls and Procedures

Item 4 Controls and Procedures 30

OTHER INFORMATION

PART II OTHER INFORMATION 30

Legal Proceedings

Item 1 Legal Proceedings 30

Risk Factors

Item 1A Risk Factors 30

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 30

Defaults Upon Senior Securities

Item 3 Defaults Upon Senior Securities 30

Mine Safety Disclosures

Item 4 Mine Safety Disclosures 31

Other Information

Item 5 Other Information 31

SIGNATURES

SIGNATURES Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements CAMDEN PROPERTY TRUST CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands, except share amounts) March 31, 2024 December 31, 2023 Assets Real estate assets, at cost Land $ 1,706,983 $ 1,711,873 Buildings and improvements 11,014,440 10,993,390 $ 12,721,423 $ 12,705,263 Accumulated depreciation ( 4,439,710 ) ( 4,332,524 ) Net operating real estate assets $ 8,281,713 $ 8,372,739 Properties under development, including land 477,481 486,864 Total real estate assets $ 8,759,194 $ 8,859,603 Accounts receivable – affiliates 10,350 11,905 Other assets, net 233,137 244,182 Cash and cash equivalents 92,693 259,686 Restricted cash 8,230 8,361 Total assets $ 9,103,604 $ 9,383,737 Liabilities and equity Liabilities Notes Payable Unsecured $ 3,223,285 $ 3,385,309 Secured 330,184 330,127 Accounts payable and accrued expenses 213,896 222,599 Accrued real estate taxes 46,612 96,517 Distributions payable 113,556 110,427 Other liabilities 182,443 186,987 Total liabilities $ 4,109,976 $ 4,331,966 Commitments and contingencies ( Note 1 0 ) Equity Common shares of beneficial interest; $ 0.01 par value per share; 175,000,000 shares authorized; 117,737,729 and 117,737,712 issued; 115,661,048 and 115,640,369 outstanding at March 31, 2024 and December 31, 2023, respectively 1,157 1,156 Additional paid-in capital 5,919,851 5,914,868 Distributions in excess of net income attributable to common shareholders ( 641,663 ) ( 613,651 ) Treasury shares, at cost ( 9,083,403 and 8,859,556 common shares at March 31, 2024 and December 31, 2023, respectively) ( 356,880 ) ( 320,364 ) Accumulated other comprehensive loss ( 78 ) ( 1,252 ) Total common equity $ 4,922,387 $ 4,980,757 Non-controlling interests 71,241 71,014 Total equity $ 4,993,628 $ 5,051,771 Total liabilities and equity $ 9,103,604 $ 9,383,737 See Notes to Condensed Consolidated Financial Statements (Unaudited). 1 Table of Contents CAMDEN PROPERTY TRU

View Full Filing

View this 10-Q filing on SEC EDGAR