HOUSTON (AP) — HOUSTON (AP) — Camden Property Trust (CPT) on Thursday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.
The Houston-based real estate investment trust said it had funds from operations of $188.1 million, or $1.71 per share, in the period.
The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of $1.68 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $4.2 million, or 4 cents per share.
The real estate investment trust, based in Houston, posted revenue of $387.2 million in the period, which missed Street forecasts. Nine analysts surveyed by Zacks expected $389.2 million.
For the current quarter ending in December, Camden expects its per-share funds from operations to range from $1.68 to $1.72.
The company expects full-year funds from operations in the range of $6.79 to $6.83 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CPT at https://www.zacks.com/ap/CPT
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