HOUSTON-Camden Property Trust's Q2 2013 figures showed an increase from the year before in areas such as funds from operations and earnings per share. Specifically:

FFO for Q2 2013 totaled $1.02 per diluted share or $91.4 million, as compared to $0.89 per diluted share or $76.7 million for the same period in 2012.
FFO for the six months ended June 30, 2013 totaled $1.99 per diluted share or $178.1 million, as compared to $1.72 per diluted share or $145.3 million for the same period in 2012.
EPS was $72.2 million or $0.81 per diluted share for Q2 2013, as compared to $21.8 million or $0.26 per diluted share for the same period in 2012.
For the six months ended June 30, 2013, the Company reported EPS of $135.6 million or $1.53 per diluted share, as compared to $110.5 million or $1.33 per diluted share for the same period in 2012.
Q2 2013 same property NOI increased 6.4% compared to the second quarter of 2012, with revenues increasing 5.4% and expenses increasing 3.7%.
The REIT acquired the 356-unit Camden Post Oak in Houston for $108 million and 38 acres of land in metro Phoenix for future development of three multifamily properties.
CPT sold the 526-unit Camden Reserve in Orlando for approximately $40.5 million.
A joint venture of which the REIT owned 20% sold 14 communities with 3,098 apartment homes in Las Vegas, NV for a total sales price of $200.2 million.
CPT launched construction on the $30 million, 300-unit Camden La Frontera in Round Rock, TX and at the $8 million, 75-unit Camden Miramar Phase IX in Corpus Christi, TX.
Construction also commenced on the $47 million, 266-unit Camden Southline in Charlotte, NC.

Instant Insights /

CPT Sees Increase in FFO, EPS

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