Camden Property Trust Files Q3 2024 10-Q

TL;DR

CPT's Q3 2024 10-Q is in: financials and debt details out.

AI Summary

Camden Property Trust (CPT) filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Key financial metrics and debt obligations are presented, reflecting the company's ongoing real estate investment trust activities.

Why It Matters

This filing provides investors with crucial financial data and operational insights into Camden Property Trust's performance during the third quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — Real estate investment trusts are subject to market fluctuations, interest rate changes, and property-specific risks.

Key Numbers

• 106,681,321 — Shares Outstanding (Total common shares outstanding as of the reporting period.)
• 6.04% — Interest Rate (A specific interest rate mentioned in the filing, likely related to debt.)
• 9/30/2026 — Maturity Date (A debt maturity date, indicating future financial obligations.)

Key Players & Entities

• Camden Property Trust (company) — Filer of the 10-Q
• 766088377 (company) — IRS Number
• TX (company) — State of Incorporation
• 11 Greenway Plaza, Suite 2400, Houston, TX 77046 (company) — Business and Mail Address
• 7133542500 (company) — Business Phone Number

FAQ

Filing Documents

• cpt-20240930.htm (10-Q) — 1296KB
• cpt09302024-ex311.htm (EX-31.1) — 10KB
• cpt09302024-ex312.htm (EX-31.2) — 10KB
• cpt09302024-ex321.htm (EX-32.1) — 6KB
• 0000906345-24-000041.txt ( ) — 6027KB
• cpt-20240930.xsd (EX-101.SCH) — 48KB
• cpt-20240930_cal.xml (EX-101.CAL) — 57KB
• cpt-20240930_def.xml (EX-101.DEF) — 284KB
• cpt-20240930_lab.xml (EX-101.LAB) — 516KB
• cpt-20240930_pre.xml (EX-101.PRE) — 387KB
• cpt-20240930_htm.xml (XML) — 691KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION 1

Financial Statements

Item 1 Financial Statements 1 Condensed Consolidated Balance Sheets (Unaudited) as of September 30, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) for the Three and Nine Months Ended September 30, 2024 and 2023 2 Condensed Consolidated Statements of Equity (Unaudited) for the Three and Nine Months Ended September 30, 2024 and 2023 3 Condensed Consolidated Statements of Cash Flows (Unaudited) for the Nine Months Ended September 30, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 8 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 20

Quantitative and Qualitative Disclosures About Market Risk

Item 3 Quantitative and Qualitative Disclosures About Market Risk 34

Controls and Procedures

Item 4 Controls and Procedures 34

OTHER INFORMATION

PART II OTHER INFORMATION 34

Legal Proceedings

Item 1 Legal Proceedings 34

Risk Factors

Item 1A Risk Factors 34

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 34

Defaults Upon Senior Securities

Item 3 Defaults Upon Senior Securities 34

Mine Safety Disclosures

Item 4 Mine Safety Disclosures 34

Other Information

Item 5 Other Information 34

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) September 30, 2024 December 31, 2023 Assets Real estate assets, at cost Land $ 1,718,185 $ 1,711,873 Buildings and improvements 11,222,261 10,993,390 $ 12,940,446 $ 12,705,263 Accumulated depreciation ( 4,725,152 ) ( 4,332,524 ) Net operating real estate assets $ 8,215,294 $ 8,372,739 Properties under development and land 418,209 486,864 Total real estate assets $ 8,633,503 $ 8,859,603 Accounts receivable – affiliates 8,993 11,905 Other assets, net 262,339 244,182 Cash and cash equivalents 31,234 259,686 Restricted cash 11,112 8,361 Total assets $ 8,947,181 $ 9,383,737 Liabilities and equity Liabilities Notes Payable Unsecured $ 3,121,499 $ 3,385,309 Secured 330,299 330,127 Accounts payable and accrued expenses 221,880 222,599 Accrued real estate taxes 131,693 96,517 Distributions payable 113,505 110,427 Other liabilities 214,027 186,987 Total liabilities $ 4,132,903 $ 4,331,966 Commitments and contingencies ( Note 10 ) Equity Common shares of beneficial interest; $ 0.01 par value per share; 175,000,000 shares authorized; 117,737,734 and 117,737,712 issued; 115,779,032 and 115,640,369 outstanding at September 30, 2024 and December 31, 2023, respectively 1,158 1,156 Additional paid-in capital 5,927,477 5,914,868 Distributions in excess of net income attributable to common shareholders ( 826,725 ) ( 613,651 ) Treasury shares, at cost ( 9,097,598 and 8,859,556 common shares at September 30, 2024 and December 31, 2023, respectively) ( 359,989 ) ( 320,364 ) Accumulated other comprehensive gain/ (loss) 641 ( 1,252 ) Total common equity $ 4,742,562 $ 4,980,757 Non-controlling interests 71,716 71,014 Total equity $ 4,814,278 $ 5,051,771 Total liabilities and equity $ 8,947,181 $ 9,383,737 See Notes to Condensed Consolidated Financial Statements (Unaudited). 1 Table of Contents CAMDEN PR

View Full Filing

View this 10-Q filing on SEC EDGAR