Camden Property Trust Q4 Profit Increases, beats estimates

(RTTNews) - Camden Property Trust (CPT) released a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $212.90 million, or $2.02 per share. This compares with $29.19 million, or $0.29 per share, in last year's fourth quarter.

Excluding items, Camden Property Trust reported adjusted earnings of $137.77 million or $1.30 per share for the period.

Analysts on average had expected the company to earn $0.46 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.8% to $305.36 million from $261.55 million last year.

Camden Property Trust earnings at a glance (GAAP) :

-Earnings (Q4): $212.90 Mln. vs. $29.19 Mln. last year. -EPS (Q4): $2.02 vs. $0.29 last year. -Analyst Estimate: $0.46 -Revenue (Q4): $305.36 Mln vs. $261.55 Mln last year.

-Guidance: Next quarter EPS guidance: $1.45 - $1.49