Earnings ·
Reports Q3 EPS of $8.71 driven by $1B gain on sale of California portfolio
CPTCamden Property Trust
Camden Property Trust reported third-quarter diluted earnings per share of $8.71, significantly higher than the prior year's $1.00, primarily due to a $972 million gain from selling its 3,620-home California portfolio for approximately $1.6 billion. Funds from operations were $1.70 per share and core FFO was $1.71 per share. The company also acquired three apartment communities in Tampa, Charlotte, and Nashville for $305.2 million and repurchased 474,660 shares for $50.0 million during the quarter. Camden updated its full-year 2026 EPS guidance midpoint to $9.44 from $9.93. The company operates multifamily apartment communities across the United States.