CPT
FY2026 Q1 · Calendar Q2 2026
Camden Property Trust
Camden Property Trust delivered a solid Q1 2026, with core FFO of $1.70 per share beating the midpoint of guidance and bad debt falling to its lowest level since COVID. The investment case centers on strong Sunbelt demand colliding with a roughly 50% cut in new apartment supply, which management expects to drive higher occupancy and blended rates through the peak leasing season. The California portfolio sale is being redeployed into high-growth Sunbelt acquisitions via 1031 exchanges, with $250M already awarded toward a $1B target. Full-year guidance was maintained. The stock reacted modestly negative on the report (-0.82% abnormal move) but drifted higher by 1.56% in subsequent sessions, and trades at $111.42 versus a consensus analyst target of $114.10.
EPS surprise+42.1%
Market move-0.5%
