Camden: Q3 Earnings Snapshot

HOUSTON (AP) — HOUSTON (AP) — Camden Property Trust (CPT) on Thursday reported a key measure of profitability in its third quarter. The results met Wall Street expectations.

The real estate investment trust, based in Houston, said it had funds from operations of $190.5 million, or $1.73 per share, in the period.

The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of $1.73 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 net income of $48 million, or 44 cents per share.

The real estate investment trust, based in Houston, posted revenue of $390.8 million in the period, which missed Street forecasts. Seven analysts surveyed by Zacks expected $391.7 million.

For the current quarter ending in December, Camden expects its per-share funds from operations to range from $1.70 to $1.74.

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