Sign in

    Camden Property Trust (CPT)

    You might also like

    Camden Property Trust (CPT) is a real estate investment company focused on the ownership, management, development, and construction of multifamily apartment communities across the United States . The company operates 177 multifamily properties, comprising 59,996 apartment homes, and holds additional land for future development . CPT's business activities are concentrated in markets with strong economic growth and job creation, which drive demand for their apartment homes . The company generates nearly all its revenue from leasing apartment homes, as it operates in a single reportable segment without distinguishing operations by geography or property type .

    1. Multifamily Apartment Communities - Owns, manages, and leases apartment homes across the United States, generating the majority of the company's revenue through property leasing activities.
    NamePositionStart DateShort Bio
    Richard J. CampoChairman of the Board and CEOMay 1993Richard J. Campo has been the Chairman of the Board and CEO of Camden Property Trust since May 1993. He co-founded Camden's predecessor companies in 1982 and has extensive experience in financial and commercial real estate .
    D. Keith OdenExecutive Vice Chairman of the Board and PresidentDecember 2021D. Keith Oden has been serving as the Executive Vice Chairman of the Board and President of Camden Property Trust since December 2021. He co-founded Camden's predecessor companies in 1982 .
    Alexander J. JessettExecutive Vice President - Chief Financial Officer and Assistant SecretaryDecember 2021Alexander J. Jessett is the Executive Vice President - Chief Financial Officer and Assistant Secretary at Camden Property Trust, a position he has held since December 2021 .
    Laurie A. BakerExecutive Vice President - Chief Operating OfficerDecember 2021Laurie A. Baker is the Executive Vice President - Chief Operating Officer at Camden Property Trust, a position she has held since December 2021 .
    William W. SengelmannExecutive Vice President - Real Estate InvestmentsDecember 2014William W. Sengelmann served as the Executive Vice President - Real Estate Investments at Camden Property Trust from December 2014 until his retirement on October 1, 2024 .
    Ben FrakerSenior Vice President-Finance and TreasurerN/AThe documents do not provide any information about Ben Fraker or his role as Senior Vice President-Finance and Treasurer at Camden Property Trust (CPT).
    1. Given that the untrended yields on your recent development starts are below 6% while assets are trading in the low 5% cap rate range, how do you justify continuing these developments when the initial spread appears minimal and going-in yields seem risky?
    2. With property taxes having an unusually low increase of 0.2% this year and insurance costs actually decreasing, how prepared are you for a potential return to higher expense growth in 2025, and what impact could that have on your margins?
    3. Despite signing blended lease rates at only 0.9% in July, you're projecting an acceleration in lease growth for the remainder of the year; what gives you confidence in this forecast given the current leasing environment?
    4. In markets like Nashville and Austin where you're facing significant new supply and oversupply concerns into 2025, how do you plan to sustain occupancy and rental rate growth in these challenging conditions?
    5. Considering your recent stock buybacks at lower prices and the current stock price close to consensus NAV, under what circumstances would you consider issuing equity to fund acquisitions or development, and how do you evaluate the trade-off between dilution and growth opportunities?
    Program DetailsProgram 1Program 2
    Approval DateMay 2022 May 2023
    End Date/DurationTerminated in May 2023 Not specified
    Total additional amount$500.0 million $500.0 million
    Remaining authorization amount$0 $500.0 million
    DetailsNo shares were sold under this program Repurchases through open-market, block, and privately negotiated transactions
    YearAmount Due (in millions)Debt TypeInterest Rate (%)% of Total Debt
    2025$3.6 N/AN/A0.1% = (3.6 / 3451.8) * 100
    2026$573.0 6.04% Term Loan, 6.29% Senior Notes6.04 - 6.29 16.6% = (573.0 / 3451.8) * 100
    2027$310.5 Weighted Average4.7 9.0% = (310.5 / 3451.8) * 100
    2028$529.9 3.74% Senior Notes, 3.87% Secured Note3.74 - 3.87 15.3% = (529.9 / 3451.8) * 100
    Thereafter$2,042.9 Various (e.g., 3.41% Senior Notes)2.91 - 5.06 59.2% = (2042.9 / 3451.8) * 100
    NameStart DateEnd DateReason for Change
    Deloitte & Touche LLP1993 PresentCurrent auditor