Quarterly ResultJul 30, 2026, 04:33 PM
Camden Sells CA Portfolio for $1.625B; Q2 FFO $1.68; Raises 2026 EPS Guidance
AI Summary
Camden Property Trust announced its second quarter 2026 operating results, reporting FFO of $1.68 and EPS of $0.18 per diluted share, both surpassing guidance. The company completed the sale of its California portfolio for approximately $1.625 billion, significantly impacting its updated 2026 EPS guidance to $9.76 - $10.10. Camden also engaged in substantial acquisition activity, purchasing 7 apartment communities and 2 land parcels for $690.4 million, and repurchased $144.1 million in common shares during the quarter. While same-property NOI saw a decline, the company's strategic portfolio adjustments and capital management activities were prominent.
Key Highlights
- Sold California portfolio of 11 communities for approximately $1.625 billion.
- Reported Q2 2026 FFO per diluted share of $1.68, exceeding guidance midpoint of $1.65.
- Reported Q2 2026 EPS of $0.18 per diluted share, exceeding guidance midpoint of $0.15.
- Updated 2026 EPS guidance to $9.76 - $10.10, significantly up from prior $0.66 due to portfolio sale.
- Acquired 7 apartment communities and 2 land parcels for an aggregate of $690.4 million.
- Repurchased 1,429,136 common shares for $144.1 million in Q2 2026.
- Same-property Net Operating Income (excluding CA) decreased by 1.4% in Q2 2026.
- Settled class action litigation for $53.0 million, not impacting 2026 Core FFO/AFFO.
Price Impact
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