| Q: Non Camden Specific:
What is a REIT (Real Estate Investment Trust)? |
A: A REIT is a company dedicated to owning and operating income producing real estate such as apartments, shopping centers, offices and warehouses. Some REITs are also engaged in financing real estate. Most importantly, to be a REIT a company is legally required to pay virtually all of its taxable income (currently 90%) to its shareholders every year.
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| Q: What is the benefit of investing in a REIT? |
A: Real Estate Investment Trusts ("REITs") allow passive shareholders to invest in real estate. Shareholders are permitted to enjoy much of the benefits associated with direct real estate investments while also benefiting from the limited liability and extreme liquidity of public stock. The high liquidity associated with ownership of REIT shares eliminates one of the most serious objections to real estate investments. Shareholders benefit from the REITs' investments in real estate equities in much the same way as they would from taking a position directly in real estate assets. That is, they receive the annual cash flows, equity growth from the retirement of mortgage debt, as well as potential growth in property value. In addition, REITs are also a reliable and predictable generator of cash dividends. This is because REITs are required to distribute the majority of their income each year. Therefore, REITs are particularly attractive to investors who want substantial cash flows as well as the inflation hedging attributes of real estate assets that have the potential for appreciation.
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| Q: What is FFO (Funds From Operations)? |
A: The National Association of Real Estate Investment Trusts ("NAREIT") currently defines FFO as net income (computed in accordance with GAAP), excluding gains or losses from sales of property, plus real estate depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures.
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| Q: Stock:
How many common shares are outstanding? |
A: As of 9/30/2009, there were 69,036,000 common and common equivalent shares outstanding. This number includes 66,231,000 common shares (including 112,000 common share equivalents related to share awards and options) and 2,805,000 common share equivalents upon the assumed conversion of minority interest units.
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| Q: How many preferred units are outstanding? |
A: As of 9/30/2009, Camden had $100M of perpetual preferred operating partnership units outstanding at 7.0%.
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| Q: Who is your transfer agent? |
A: Camden's Transfer Agent is American Stock Transfer and Trust Company. They can be contacted at (800) 937-5449.
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| Q: What is Camden’s total market capitalization? |
A: As of 9/30/2009, Camden’s total market capitalization was approximately $5.5 billion.
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| Q: Dividends:
Is there a way that I can reinvest my dividends? |
A: Camden offers its shareholders the opportunity to purchase additional shares of common stock through the Dividend Reinvestment Plan. For a copy of the Plan prospectus, please contact: American Stock Transfer and Trust Company at (800) 278-4353.
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| Q: What portion of the dividend is considered non-taxable return on capital? |
A: The tax characteristics of Camden's distribution vary year-to-year. To find the current year's characteristics, please refer to the press release section of this site.
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| Q: History:
When did Camden become a public company? |
A: Camden Property Trust's Initial Public Offering occurred on July 22, 1993.
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| Q: Administrative:
When is your next annual meeting? |
A: Our next Annual Meeting will be held on May 6, 2009.
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| Q: When will the 2008 Annual Report be available? |
A: The 2008 Annual Report is now available. If you would like a copy, please contact Camden's Investor Relations Department at (800) 922-6336.
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| Q: How do I change my address on my stock certificate, or transfer my stock to another person? |
A: Contact American Stock Transfer and Trust Company at (800) 937-5449 for assistance.
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| Q: Properties/Locations:
How many properties does Camden own and manage, and where are they located? |
A: Camden Property Trust owns interests in and operates 183 properties containing 63,286 apartment homes across the United States. Upon completion of 2 properties under development, the Company's portfolio will increase to 63,658 apartment homes in 185 properties.
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| Q: Why would Camden dispose of some of its properties? |
A: Over the past several years, Camden has selectively disposed of older, capital-intensive assets in order to improve the overall quality, growth potential and geographic balance of our portfolio. Selling additional assets which no longer meet our long-term growth strategy will allow us the opportunity to reinvest our capital at higher yields.
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| Q: What class of properties does Camden own and operate? |
A: Camden owns and operates both class "A" and "B" apartment homes with a product mix of approximately 70% designated as class "A" and 30% designated as class "B".
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| Q: Why has Camden entered the urban infill market? |
A: In response to the urban renaissance taking place in the downtown areas of major cities throughout the country, Camden began developing unique properties to serve the urban infill community. These properties appeal to the convenience-conscious, upscale professional.
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| Q: Is Camden considering diversifying into other geographic locations? |
A: Camden plans to continue its program of geographic diversification and is considering expansion into new markets with high job and population growth.
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| Q: Camden Positives:
What differentiates Camden from other apartment companies? |
A: Camden has continued to build upon its financial strength and momentum by staying true to two beliefs that have guided the Company since its inception: 1) providing a superior product at a competitive price and 2) exceeding residents' expectations through exceptional property management. This commitment to value creation and customer service has served to maximize the Company's net operating income (NOI).
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| Q: Ancillary Services:
What type of ancillary services does Camden offer their residents? |
A: Camden manages and negotiates contracts for ancillary services that generate supplemental income for our communities while providing a high value and strong connection to our residents' lifestyles. Some of these resident services offered at our communities include cable television, High-speed Internet access, local and long distance telephone, electricity, renters insurance, laundry rooms, and vending machines. We continue to evaluate services in terms of their marketing value to our residents plus potential for additional revenues. Some of the recent additions to our ancillary service offerings include The Perfect Connection, a service that provides extended basic cable to our residents at a discounted rate, Valet Waste, a service which offers door-to-door trash pickup for our residents, and Camden Connect, our Free Resident Connection Service that allows resident to connect utilities and other services hassle-free, saving time and money.
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