Camden Property Trust’s (CPT) Maintains A Sector Perform Rating
By Benzinga Staff
February 09, 2010 4:39 PM
February 09, 2010 4:39 PM
Symbols: CPT
Tags: RBC Capital Markets, Mike Salinsky
Analyst Mike Salinsky at RBC Capital Markets has maintained a Sector Perform rating for Camden Property Trust (NYSE: CPT). The company has reported results for the fourth-quarter, and also issued guidance for FY10.
Camden Property Trust reported FFO of ($0.53) per share, which includes impairment charges of $1.24 per share. The FFO was $0.71 per share, excluding the impairment charges. The company saw an erosion of 5.5% in same community NOI. The decline of 5.1% in revenue was partially offset by a decline of 4.4% in expenses.
The company also issued guidance for FY10. The company expects FFO to be in the range of $2.35-$2.65 per share for FY10.
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