Camden National Corporation · NASDAQ:CAC

Camden National — Q2 2023 Earnings Presentation

17 slides from Camden National's earnings presentation, Jul 25, 2023

  1. Slide 1: Camden Property Trust 2Q23 Earnings Call

    CAMDEN PROPERTY TRUST 2Q23 EARNINGS CALL

  2. Slide 2: 2Q23 Same Property Revenue Growth

    2Q23 SAME PROPERTY REVENUE GROWTH TOP PERFORMERS: Tampa Orlando Southeast Florida Charlotte Nashville

  3. Slide 3: 2Q23 Signed New Leases & Renewals

    2Q23 SIGNED NEW LEASES & RENEWALS New Leases 2.2% Renewals 5.9% Blended 4.1%

  4. Slide 4: 2Q23 Operating Statistics

    2Q23 OPERATING STATISTICS Same Property Occupancy 95.4% Net Turnover 44.0% Moveouts to Purchase Homes 11.8%

  5. Slide 5: Camden Property Trust 2Q23 Earnings Call

    CAMDEN PROPERTY TRUST 2Q23 EARNINGS CALL

  6. Slide 6: Camden Tempe II

    Camden Tempe II

  7. Slide 7: Camden NoDa

    Camden NoDa

  8. Slide 8: Camden Property Trust 2Q23 Earnings Call

    CAMDEN PROPERTY TRUST 2Q23 EARNINGS CALL

  9. Slide 9: 2Q23 Core FFO

    2Q23 CORE FFO 2¢ per share $1.68 $1.70 2Q23 GUIDANCE MIDPOINT 2Q23 ACTUAL RESULTS +1.0¢ NON-SAME STORE NET OPERATING INCOME FROM ACCELERATED LEASING ACTIVITY +1.0¢ TIMING OF CORPORATE OVERHEAD EXPENSES AND FEE INCOME +2.0 ¢

  10. Slide 10: Same Property Growth Guidance Midpoints

    SAME PROPERTY GROWTH GUIDANCE MIDPOINTS REVENUE 5.65% CORE GUIDANCE EXPENSE 6.85% CORE GUIDANCE NOI 5.00% CORE GUIDANCE

  11. Slide 11: Revenue Growth Assumptions

    REVENUE GROWTH ASSUMPTIONS 2H23 NEW LEASES +1.5% RENEWALS +5.0% OCCUPANCY 95.6%

  12. Slide 12: Camden Property Trust 2Q23 Earnings Call

    CAMDEN PROPERTY TRUST 2Q23 EARNINGS CALL

  13. Slide 13: Property Expense Assumptions

    PROPERTY EXPENSE ASSUMPTIONS ANTICIPATED INCREASES % OF EXPENSES PRIOR REVISED PROPERTY TAXES 36% 6.2% 4.5% REPAIR & MAINTENANCE 13% 5.0% 8.5% INSURANCE 7% 35% 37.5%

  14. Slide 14: Revised 2023 Core FFO

    REVISED 2023 CORE FFO 2¢ $6.86 $6.88 PRIOR 2023 REVISED 2023 GUIDANCE MIDPOINT GUIDANCE MIDPOINT +1.0 ¢ 2Q23 OUTPERFORMANCE OF DEVELOPMENT COMMUNITIES +1.0 ¢ LOWER INTEREST EXPENSE FROM PREPAYMENT OF SECURED DEBT +2.0 ¢

  15. Slide 15: 3Q23 Core FFO Per Share

    3Q23 CORE FFO PER SHARE (MIDPOINT OF GUIDANCE RANGE) 3¢ PER SHARE $1.70 $1.73 2Q23 3Q23 1.50 ¢ INCREASED SAME STORE NOI 0.75 ¢ NOI FROM NON-SAME STORE AND DEVELOPMENT PORTFOLIO 1.00 ¢ LOWER OVERHEAD EXPENSES 0.50 ¢ LOWER INTEREST FROM DEBT PREPAYMENT 3.75 ¢ (0.75)¢ LOST FFO FROM 2Q23 DISPOSITION 3.0

  16. Slide 16: Liquidity

    LIQUIDTY • 2Q23 NET DEBT TO EBITDA : 4.2x • $212 MILLION REMAINING TO FUND FOR EXISTING DEVELOPMENT PIPELINE

  17. Slide 17: Camden Property Trust 2Q23 Earnings Call

    CAMDEN PROPERTY TRUST 2Q23 EARNINGS CALL

Camden National — Q2 2023 Earnings Presentation on 6ix