Camden Property Trust Q3 Profit Rises - Quick Facts

(RTTNews) - Camden Property Trust (CPT) reported that its third-quarter net income attributable to shareholders increased to $70.72 million or $0.80 per share, from $30.70 million or $0.35 per share, last year. Income from continuing operations increased to $35.74 million or $0.39 per share, from $27.84 million or $0.31 per share, prior year. FFO totaled $1.04 per share, compared to $0.93 per share, a year ago.

On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $1.02 for the quarter. Analysts' estimates typically exclude special items.

Total property revenues rose to $201.96 million, from $181.76 million, prior year. Analysts expected revenue of $207.28 million for the quarter.

Camden updated its earnings guidance for 2013. Full-year FFO is expected to be $4.05 to $4.09 per share, and full-year earnings per share is expected to be $2.75 to $2.79. Analysts expect the company to report full year earnings per share of $4.05.

The company expects fourth-quarter FFO per share in the range of $1.02 to $1.06, and earnings per share in the range of $0.41 to $0.45. Analysts expect the company to report fourth-quarter profit per share of $1.04.