Camden Property Trust announced the appointment of Alexander J. Jessett as Senior Vice President-Finance, Chief Financial Officer and Treasurer of the Company effective May 9, 2013. Mr. Jessett succeeds Dennis M. Steen, who is retiring after serving as Camden's Senior Vice President-Chief Financial Officer. Mr. Steen will remain with the company through July 1, 2013 to facilitate the transition. Mr. Jessett joined Camden's Finance department in 1999 and has served as Senior Vice President - Finance and Treasurer since 2009. In this capacity, Mr. Jessett was responsible for capital markets activities, corporate finance, strategic planning, tax compliance, treasury, and cash management. Mr. Jessett holds a Bachelor of Business Administration in Finance from the University of Texas at Austin, and a Masters of Business Administration in Finance from the University of Houston.

Camden Property Trust reported unaudited earnings results for the first quarter ended March 31, 2013. FFO for the first quarter of 2013 totaled $0.97 per diluted share or $86.6 million, as compared to $0.83 per diluted share or $68.6 million for the same period in 2012. The company reported EPS of $63.5 million or $0.72 per diluted share for the first quarter of 2013, as compared to $88.8 million or $1.07 per diluted share for the same period in 2012. Total property revenues were $196.190 million against $169.699 million a year ago. Income from continuing operations before income taxes was $32.301 million against $57.797 million a year ago. Income from continuing operations was $31.902 million against $57.573 million a year ago. Net income attributable to common shareholders was $63.476 million against $88.758 million a year ago. Net operating income (NOI) was $124.043 million against $106.212 million a year ago. EBITDA was $110.698 million against $98.129 million a year ago. The company updated its earnings guidance for the second quarter and full year 2013 based on its current and expected views of the apartment market and general economic conditions. Second quarter 2013 earnings guidance is $0.96 to $1.00 per diluted share for FFO and $0.34 to $0.38 per diluted share for EPS. Guidance for EPS excludes potential future gains on real estate transactions. The company's 2013 earnings guidance is based on projections of same property revenue growth between 4.75% and 6.25%, expense growth between 3.2% and 4.0%, and NOI growth between 5.5% and 7.5%. Full-year 2013 FFO is expected to be $3.89 to $4.05 per diluted share, and full-year 2013 EPS is expected to be $1.79 to $1.95 per diluted share.

Camden Property Trust, Q1 2013 Earnings Call, May 03, 2013