Camden National Corporation · NASDAQ:CAC

Camden National — Q1 2023 Earnings Presentation

15 slides from Camden National's earnings presentation, Apr 25, 2023

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

    CAMDEN PROPERTY TRUST 1Q23 EARNINGS CALL

  2. Slide 2: 1Q23 Same Property Revenue Growth

    1Q23 SAME PROPERTY REVENUE GROWTH TOP PERFORMERS: Tampa Orlando Southeast Florida Nashville

  3. Slide 3: 1Q23 Signed New Leases & Renewals

    1Q23 SIGNED NEW LEASES & RENEWALS New Leases 1.8% Renewals 6.7% Blended 4.0%

  4. Slide 4: 1Q23 Operating Statistics

    1Q23 OPERATING STATISTICS Same Property Occupancy 95.3% Net Turnover 36.0% Moveouts to Purchase Homes 10.1%

  5. Slide 5: Camden Property Trust 1Q23 Earnings Call

    CAMDEN PROPERTY TRUST 1Q23 EARNINGS CALL

  6. Slide 6: Camden Atlantic – Plantation, Florida

    Camden Atlantic – Plantation, Florida

  7. Slide 7: Camden NoDa – Charlotte, North Carolina

    Camden NoDa – Charlotte, North Carolina

  8. Slide 8: Camden Tempe II – Tempe, Arizona

    Camden Tempe II – Tempe, Arizona

  9. Slide 9: Camden Property Trust 1Q23 Earnings Call

    CAMDEN PROPERTY TRUST 1Q23 EARNINGS CALL

  10. Slide 10: 1Q23 NAREIT FFO and Core FFO

    1Q23 NAREIT FFO AND CORE FFO 1¢ per share $1.65 $1.66 1Q23 GUIDANCE MIDPOINT 1Q23 ACTUAL RESULTS +2.0¢ BAD DEBT DUE TO TIMING OF MOVE-OUTS OF NON-PAYING RESIDENTS REPLACED WITH PAYING RESIDENTS +0.5¢ HIGHER NET MARKET RENTS +1.0¢ OTHER PROPERTY INCOME ( 2.5¢) HIGHER THAN ANTICIPATE PROPERY INSURANCE

  11. Slide 11: Same Property Growth Guidance

    SAME PROPERTY GROWTH GUIDANCE REVENUE 5.10% 5.20% 5.65% ORIGINAL GUIDANCE ORIGINAL CORE GUIDANCE REVISED CORE GUIDANCE EXPENSE 5.50% 5.90% 6.85% ORIGINAL GUIDANCE ORIGINAL CORE GUIDANCE REVISED CORE GUIDANCE NOI 5.00% 5.00% ORIGINAL GUIDANCE REVISED CORE GUIDANCE

  12. Slide 12: Revised 2023 Core FFO

    REVISED 2023 CORE FFO 1¢ $6.85 $6.86 ORIGINAL 2023 REVISED 2023 GUIDANCE MIDPOINT GUIDANCE MIDPOINT

  13. Slide 13: 2Q23 Core FFO Per Share

    2Q23 CORE FFO PER SHARE (MIDPOINT OF GUIDANCE RANGE) 2¢ PER SHARE $1.66 $1.68 1Q23 2Q23 $ 0.030 INCREASED SAME STORE NOI 0.005 NOI FROM DEVELOPMENT AND NON-SAME STORE COMMUNITIES ( 0.005) VARIOUS PUBLIC COMPANY FEES ( 0.010) HIGHER FLOATING RATE INTEREST EXPENSE $ 0.020

  14. Slide 14: Liquidity

    LIQUIDTY • 1Q23 NET DEBT TO EBITDA : 4.3x • $268 MILLION REMAINING TO FUND FOR EXISTING DEVELOPMENT PIPELINE

  15. Slide 15: Camden Property Trust 1Q23 Earnings Call

    CAMDEN PROPERTY TRUST 1Q23 EARNINGS CALL

Camden National — Q1 2023 Earnings Presentation on 6ix