Profit improves for Camden

Friday, April 28, 2000 | 11:05 a.m.

Camden Property Trust of Houston, owner of the Oasis apartment complexes in Las Vegas, reported first quarter funds from operations of 85 cents per diluted share or $38.1 million vs. 77 cents or $37.8 million in the year-ago period.

Revenues of $98.7 million were up from $88.8 million.

The real estate investment trust said net income available to common shareholders for the quarter totaled $12.7 million or 31 cents per diluted share vs. $13.7 million or 31 cents per diluted share for the first quarter of 1999.

Occupancy levels averaged 93 percent during the quarter as compared to 93.2 percent during the first quarter of 1999. Average rental revenues per apartment per month during the first quarter rose $24 to $636.

Camden has 42,316 apartment units around the nation.

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