Camden Property forecasts annual FFO below estimates
May 1 (Reuters) - Camden Property Trust CPT.N forecast its annual funds from operations (FFO) below Wall Street estimates on Thursday, as tariff-induced economic uncertainties may keep consumers away from purchasing new homes in the short term.
The real estate investment trust expects 2025 FFO to range between $6.53 and $6.83 per share, with the mid-point below analysts' average estimate of $6.77 per share, according to data compiled by LSEG.
Camden owns and manages about 60,000 apartment units across the United States at more than 175 properties.
It expects per-share profit to be between $1.01 and $1.31 in 2025, below estimates of $1.50 per share.
The company said that in the first quarter it acquired a 435-home apartment community in Nashville for about $131.3 million and a 352-home apartment community in Austin for about $67.7 million.
Camden reported first-quarter FFO of $1.70 per share, compared with analysts' average estimate of $1.68 per share.
Property revenue for the quarter ended March 31 was $390.6 million, above the consensus of $388.9 million.
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