Earnings Releases·Nov 5, 2026, 4:27 PM ET

Camden Property Trust — Third Quarter 2026 Earnings Summary

CPT

Net income attributable to common shareholders surged to $900.4 million ($8.71 per diluted share) for the quarter ended September 30, 2026, compared to $108.9 million ($1.00 per share) in the prior year period, driven primarily by a $1.0 billion gain on the sale of the California portfolio; however, FFO per share declined to $1.70 from $1.67 in the prior year.
Management lowered full-year 2026 EPS guidance to $9.42–$9.46 (midpoint $9.44), a $0.49 reduction from the prior midpoint, while maintaining FFO guidance at $6.13–$6.17 and Core FFO at $6.73–$6.77; same-property NOI growth guidance was revised downward to a midpoint of -1.00%.
The company executed significant capital allocation activities, including the sale of 11 California communities for $1.6 billion, the acquisition of three properties for $305.2 million, and share repurchases of 474,660 shares ($50.0 million) during the quarter, with $247.9 million remaining under the repurchase program.
Operational metrics showed mixed results with same-property occupancy at 95.6% and same-property NOI decreasing 0.2% year-over-year, while effective new lease rates fell 2.0% year-over-year; the development pipeline remains active with 1,560 homes under construction or in planning totaling $618.0 million.
Liquidity stood at approximately $1.8 billion as of September 30, 2026, supported by $0.6 billion in cash and $1.2 billion in credit facility availability, while net debt to annualized adjusted EBITDAre improved to 4.0x from 4.2x in the prior year period.

Company: CAMDEN PROPERTY TRUST
Sector: Real Estate
Industry: REIT - Residential