Earnings ·
Camden Property Trust reported diluted EPS of $0.18 and FFO of $1.68 per share for the second quarter ended June 30…
CPTCamden Property Trust
Camden Property Trust reported diluted EPS of $0.18 and FFO of $1.68 per share for the second quarter ended June 30, 2026, missing consensus estimates by $0.03. The company sold its California portfolio of 11 communities (3,620 homes) on July 29, 2026, for approximately $1.625 billion, with roughly $0.9 billion in proceeds allocated to retiring debt under its revolving credit facility and commercial paper program. Same property NOI declined 1.4% year-over-year due to a 3.3% drop in new lease rates, partially offset by 2.8% renewal growth and 95.7% occupancy. Management updated full-year 2026 EPS guidance downward to $9.93 per share from $10.10, citing market conditions. Additionally, the company entered a binding term sheet to settle class action litigation regarding revenue management software for $53 million and issued a new $350 million unsecured term loan facility maturing in July 2027. Camden Property Trust is a real estate investment trust primarily engaged in the ownership, management, development, acquisition, and construction of multifamily apartment communities.