Camden Property Trust Provides Update on Projected Expenses Related to Hurricane Irma
September 18 2017 - 4:15PM
Business Wire
Camden Property Trust (NYSE:CPT) announced today that it expects
to incur approximately $2.0 - $2.5 million in expenses during the
third quarter of 2017 as a result of Hurricane Irma. These
projected expenses relate to cleanup and repairs for landscaping,
water intrusion and roofing at the Company’s apartment communities
located in Florida, Atlanta and Charlotte. Camden will provide an
update to its full-year 2017 earnings guidance in conjunction with
its 3Q17 earnings release scheduled for late October 2017.
In addition to historical information, this press release
contains forward-looking statements under the federal securities
law. These statements are based on current expectations, estimates,
and projections about the industry and markets in which Camden (the
"Company") operates, management's beliefs, and assumptions made by
management. Forward-looking statements are not guarantees of future
performance and involve certain risks and uncertainties which are
difficult to predict. Factors which may cause the Company’s actual
results or performance to differ materially from those contemplated
by forward-looking statements are described under the heading “Risk
Factors” in Camden’s Annual Report on Form 10-K and in other
filings with the Securities and Exchange Commission (SEC).
Forward-looking statements made in today’s press release represent
management’s current opinions at the time of this publication, and
the Company assumes no obligation to update or supplement these
statements because of subsequent events.
Camden Property Trust, an S&P 400 Company, is a real estate
company engaged in the ownership, management, development,
redevelopment, acquisition, and construction of multifamily
apartment communities. Camden owns interests in and operates 155
properties containing 53,771 apartment homes across the United
States. Upon completion of 6 properties under development, the
Company’s portfolio will increase to 55,644 apartment homes in 161
properties. Camden was recently named by FORTUNE® Magazine for the
tenth consecutive year as one of the “100 Best Companies to Work
For” in America, ranking #22.
For additional information, please contact Camden’s Investor
Relations Department at (713) 354-2787 or access our website at
camdenliving.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170918006314/en/
Camden Property TrustKim Callahan, 713-354-2549
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