Camden National Corporation · NASDAQ:CAC

Camden National — Q3 2022 Earnings Presentation

18 slides from Camden National's earnings presentation, Oct 25, 2022

  1. Slide 1: Camden Property Trust 3Q22 Earnings Call

    CAMDEN PROPERTY TRUST 3Q22 EARNINGS CALL

  2. Slide 2: Same Property Revenue Growth

    SAME PROPERTY REVENUE GROWTH 3Q22 ACTUAL 11.70% YTD ACTUAL 11.60% 2022 GUIDANCE 11.25%

  3. Slide 3: 3Q22 Signed New Leases & Renewals

    3Q22 SIGNED NEW LEASES & RENEWALS NEW LEASES 11.8% RENEWALS 11.5% BLENDED RATE 11.6%

  4. Slide 4: October 2022 Signed New Leases & Renewals

    OCTOBER 2022 SIGNED NEW LEASES & RENEWALS NEW LEASES 5.2% RENEWALS 9.4% BLENDED RATE 6.9%

  5. Slide 5: Same Property Occupancy

    SAME PROPERTY OCCUPANCY 96.6% 96.9% 3Q22 2Q22

  6. Slide 6: 3Q22 Turnover

    3Q22 TURNOVER 3Q22 3Q21 NET TURNOVER 51.0% 47.0% 3Q22 2Q22 MOVEOUTS TO 13.2% 15.1% PURCHASE HOME

  7. Slide 7: Camden Property Trust 3Q22 Earnings Call

    CAMDEN PROPERTY TRUST 3Q22 EARNINGS CALL

  8. Slide 8: Camden Buckhead – Atlanta, Georgia

    Camden Buckhead – Atlanta, Georgia

  9. Slide 9: Camden Hillcrest – San Diego, California

    Camden Hillcrest – San Diego, California

  10. Slide 10: Camden Atlantic – Plantation, Florida

    Camden Atlantic – Plantation, Florida

  11. Slide 11: Camden Woodmill Creek – Houston, Texas

    Camden Woodmill Creek – Houston, Texas

  12. Slide 12: Camden Long Meadow Farms – Houston, Texas

    Camden Long Meadow Farms – Houston, Texas

  13. Slide 13: Liquidity

    LIQUIDITY • NEW $1.2 BILLION LOC MATURING AUGUST 2026 • $300 MILLION TERM LOAN MATURING AUGUST 2024 • $30 MILLION OUTSTANDING UNDER LOC (AS OF TODAY) • INCREASED SHARE REPURCHASE AUTHORIZATION TO $500 MILLION • 3Q22 NET DEBT TO EBITDA : 4.2x • $348 MILLION TO SPEND OVER NEXT THREE YEARS ON EXISTING

  14. Slide 14: 3Q22 FFO

    3Q22 FFO $187.6 MILLION $1.70 = $1.70 3Q22 ACTUAL RESULTS 3Q22 GUIDANCE MIDPOINT (1.0¢) PROPERTY EXPENSE ASSOCIATED WITH HURRICANE IAN 1.0¢ HIGHER OTHER PROPERTY INCOME & LOWER OVERHEAD EXPENSES

  15. Slide 15: 2022 Same Property Guidance

    2022 SAME PROPERTY GUIDANCE REVENUE 11.25% EXPENSE 5.00% NOI 14.75%

  16. Slide 16: 2022 Expected FFO Per Share

    2022 EXPECTED FFO PER SHARE (MIDPOINT OF GUIDANCE RANGE) +1¢ $6.58 $6.59 PRIOR 2022 GUIDANCE REVISED 2022 GUIDANCE $ 0.01 LOWER CORPORATE OVERHEAD

  17. Slide 17: 4Q22 Expected FFO Per Share

    4Q22 EXPECTED FFO PER SHARE (MIDPOINT OF GUIDANCE RANGE) 4¢ PER SHARE $1.70 $1.74 3Q22 4Q22 $ 0.010 HURRICANE IAN EXPENSE 0.030 HIGHER NET MARKET RENT PARTIALLY OFFSET BY LOWER OCCUPANCY 0.030 SEASONAL DECREASE IN UTILITIES, REPAIR & MAINTENANCE, & UNIT TURNOVER EXPENSE AND TIMING OF PROPERTY TAX RE

  18. Slide 18: Camden Property Trust 3Q22 Earnings Call

    CAMDEN PROPERTY TRUST 3Q22 EARNINGS CALL

Camden National — Q3 2022 Earnings Presentation on 6ix