Camden Property Trust Announces $50 Million Share Repurchase Program.Business Editors & Real Estate Writers HOUSTON--(BUSINESS WIRE)--Aug. 13, 2002 Camden Property Trust (NYSE NYSE See: New York Stock Exchange :CPT CPT See: Carriage Paid To ) today announced that its Board of Trust Managers has approved a share repurchase Share Repurchase A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. program of up to $50 million of the Company's common shares of beneficial interest. Shares may be repurchased through open market or negotiated transactions. Camden Property Trust is a real estate company engaged in the ownership, development, acquisition, management and disposition of multifamily apartment communities. Camden owns interests in and operates 146 properties containing 52,175 apartment homes in the Sunbelt and Midwestern markets from Florida to California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). . Upon completion of three properties under development and the expansion of an existing property, the Company's portfolio will increase to 53,542 apartment homes in 149 properties. For more information, please contact Camden's Investor Relations Investor relations The process by which the corporation communicates with its investors. Department at 800/922-6336 x2787 or 713/354-2787, or visit Camden's Web site at http://www.camdenliving.com. |
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