Oct 31 (Reuters) - Real estate investment trust Camden

Property Trust ( CPT ) missed Wall Street estimates for

third-quarter funds from operations (FFO) on Thursday, hurt by

easing rental growth rates in key markets such as Austin,

Atlanta and Nashville, which are seeing high supply.

Supply of rental properties across the United States remains

high, with about 16% of Camden's portfolio in markets where

supply exceeds demand, pushing rental growth rates down.

Weighted average monthly rental rates in Austin were down

3.7% compared to last year, while those in Nashville and Atlanta

were down 3.4% and 2.8%, respectively.

Camden reported core adjusted FFO, a key measure of

performance for a REIT, of $1.48 per share in the quarter ended

Sept. 30, compared with analysts' average estimate of $1.68 per

share, according to data compiled by LSEG.

The REIT, which manages more than 60,000 apartment units

across the United States, saw occupancy - the percentage of

rental units in a property that are currently occupied by

tenants - increase to 95.3% in the third quarter from 94.9%

compared to last year.

Camden posted a same-property rental growth rate of 0.2%,

compared to last year.

The company expects full-year 2024 adjusted FFO to be in the

range of $6.79 to $6.83 per share, with its midpoint at $6.81

per share, compared with analysts' average estimate of $6.75 per

share.