Analyst Consensus ?
ConsensusHold38 ratings
Bullish1847.4%
Neutral1744.7%
Bearish37.9%
1 unmapped firm rating excluded from the percentages.
Camden Property Trust · CPT · FY2026 Q1 · Calendar Q2 2026
Camden Property Trust: Core FFO Beats Guidance as Sunbelt Demand Holds and Supply Eases
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.
Reported After market closeNYSEReal Estate
$11.39B market cap
90quality score
Company context
Snapshot as of publicationCamden Property Trust, an S&P 400 listed entity, specializes in real estate, primarily through the ownership, operation, development, renovation, purchase, and building of multi-family residential complexes. Currently, Camden possesses stakes in and manages 167 properties housing 56,850 apartment units throughout the United States. With seven additional properties presently under construction, the company's total portfolio will expand to 174 properties offering 59,104 apartment homes. Camden has earned consistent recognition for its workplace culture, being named one of FORTUNE magazine's "100 Best Companies to Work For®" for 13 straight years, most recently achieving the #18 spot. Furthermore, in 2020, it secured the #25 position among large U.S. companies in the Glassdoor Employees' Choice Award.
Earnings scorecard
Reported versus consensus
Reported EPS
$0.40
Consensus $0
EPS surprise
+42.1%
Reported versus consensus
Reported revenue
$388.8M
Consensus $380.1M
Revenue surprise
+2.3%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$110.58Current
$98Low
$125.01Average
$193High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Jul 31, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Jul 22, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Jul 21, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Jul 14, 2026 |
| Scotiabank | Sector Underperform | Sector Underperform | Maintain | Jul 9, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jun 25, 2026 |
| Truist Securities | Buy | Buy | Maintain | Jun 11, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Jun 10, 2026 |
| UBS | Neutral | Neutral | Maintain | May 14, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | May 4, 2026 |
| Cantor Fitzgerald | Neutral | Neutral | Maintain | May 4, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | May 1, 2026 |
| JP Morgan | Neutral | Underweight | Upgrade | Dec 18, 2025 |
| B of A Securities | Buy | Buy | Maintain | Nov 12, 2025 |
| Goldman Sachs | Sell | Neutral | Downgrade | Sep 17, 2025 |
| Stifel | Buy | Hold | Upgrade | Aug 26, 2025 |
| Citigroup | Buy | Buy | Maintain | Aug 14, 2025 |
| Jefferies | Buy | Hold | Upgrade | Mar 10, 2025 |
| Deutsche Bank | Hold | Hold | Maintain | Sep 10, 2024 |
| Wedbush | Outperform | Outperform | Maintain | Aug 5, 2024 |
| Baird | Outperform | Outperform | Maintain | Mar 12, 2024 |
| BMO Capital | Market Perform | Outperform | Downgrade | Dec 15, 2023 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | May 15, 2023 |
| Keybanc | Overweight | Downgrade | Feb 22, 2021 | |
| CFRA | Buy | Buy | Maintain | May 8, 2020 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Apr 2, 2020 |
| BTIG | Neutral | Buy | Downgrade | Mar 10, 2020 |
| Zelman | Sell | Hold | Downgrade | Feb 4, 2020 |
| Sandler O'Neill | Buy | Hold | Upgrade | Dec 20, 2019 |
| Bank of America | Neutral | Buy | Downgrade | Nov 7, 2019 |
| Capital One Financial | Overweight | Equal Weight | Upgrade | Sep 16, 2019 |
| Capital One | Overweight | Equal Weight | Upgrade | Sep 16, 2019 |
| Janney Montgomery Scott | Buy | Neutral | Upgrade | Dec 20, 2018 |
| Janney Capital | Buy | Neutral | Upgrade | Dec 20, 2018 |
| BTIG Research | Buy | Neutral | Upgrade | Apr 24, 2017 |
| Mitsubishi UFJ | Neutral | Underweight | Upgrade | Jan 5, 2017 |
| Credit Suisse | Neutral | Neutral | Maintain | Jan 29, 2016 |
| Stifel Nicolaus | Buy | Buy | Maintain | Jul 31, 2015 |
| Imperial Capital | Outperform | Outperform | Maintain | May 9, 2014 |
| Macquarie | Neutral | Outperform | Downgrade | Jul 17, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $110.58. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Wells Fargo | James Feldman | $113 | $112.09 | +2.2% | Jul 22, 2026 |
| Piper Sandler | Analyst unavailable | $119 | $112.86 | +7.6% | Jul 21, 2026 |
| Deutsche Bank | Peter Abramowitz | $114 | $112.86 | +3.1% | Jul 20, 2026 |
| Barclays | Analyst unavailable | $122 | $114.19 | +10.3% | Jul 14, 2026 |
| Scotiabank | Analyst unavailable | $109 | $114 | -1.4% | Jul 9, 2026 |
| Morgan Stanley | Analyst unavailable | $120 | $112.62 | +8.5% | Jun 25, 2026 |
| Scotiabank | Nicholas Yulico | $102 | $110.44 | -7.8% | Jun 18, 2026 |
| Truist Financial | Michael Lewis | $123 | $115.86 | +11.2% | Jun 11, 2026 |
| Evercore ISI | Steve Sakwa | $113 | $112.88 | +2.2% | Jun 8, 2026 |
| Morgan Stanley | Adam Kramer | $117 | $103.47 | +5.8% | May 15, 2026 |
| UBS | Analyst unavailable | $106 | $104.58 | -4.1% | May 14, 2026 |
| Scotiabank | Analyst unavailable | $95 | $105.35 | -14.1% | May 14, 2026 |
| Barclays | Richard Hightower | $116 | $103.77 | +4.9% | May 11, 2026 |
| RBC Capital | Brad Heffern | $105 | $105.68 | -5.0% | May 4, 2026 |
| Cantor Fitzgerald | Richard Anderson | $102 | $104.45 | -7.8% | May 4, 2026 |
| Evercore ISI | Analyst unavailable | $107 | $104.76 | -3.2% | May 1, 2026 |
| Stifel Nicolaus | Analyst unavailable | $118.75 | $105.02 | +7.4% | May 1, 2026 |
| RBC Capital | Analyst unavailable | $108 | $109.37 | -2.3% | Feb 10, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $108 | $107.96 | -2.3% | Feb 9, 2026 |
| Stifel Nicolaus | Analyst unavailable | $118.5 | $106.57 | +7.2% | Feb 6, 2026 |
| Piper Sandler | Analyst unavailable | $108 | $108.02 | -2.3% | Jan 27, 2026 |
| Truist Financial | Michael Lewis | $118 | $109.5 | +6.7% | Jan 20, 2026 |
| Barclays | Richard Hightower | $119 | $106.83 | +7.6% | Jan 13, 2026 |
| Mizuho Securities | Analyst unavailable | $120 | $107.79 | +8.5% | Jan 12, 2026 |
| UBS | Analyst unavailable | $108 | $108.23 | -2.3% | Jan 8, 2026 |
| Truist Financial | Analyst unavailable | $116 | $104.21 | +4.9% | Dec 15, 2025 |
| Wells Fargo | Analyst unavailable | $110 | $106.82 | -0.5% | Nov 25, 2025 |
| Barclays | Richard Hightower | $118 | $104.64 | +6.7% | Nov 25, 2025 |
| Mizuho Securities | Analyst unavailable | $114 | $105.23 | +3.1% | Nov 24, 2025 |
| Cantor Fitzgerald | Richard Anderson | $105 | $101.88 | -5.0% | Nov 10, 2025 |
| Evercore ISI | Analyst unavailable | $108 | $98.31 | -2.3% | Nov 3, 2025 |
| Evercore ISI | Analyst unavailable | $115 | $101.91 | +4.0% | Oct 13, 2025 |
| Wells Fargo | Analyst unavailable | $111 | $101.67 | +0.4% | Oct 13, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $115 | $106.78 | +4.0% | Oct 1, 2025 |
| Barclays | Analyst unavailable | $127 | $106.55 | +14.8% | Sep 30, 2025 |
| Goldman Sachs | Analyst unavailable | $106 | $106.47 | -4.1% | Sep 17, 2025 |
| Stifel Nicolaus | Simon Yarmak | $122.75 | $108.87 | +11.0% | Aug 26, 2025 |
| Scotiabank | Nicholas Yulico | $133 | $106.02 | +20.3% | Aug 14, 2025 |
| RBC Capital | Analyst unavailable | $118 | $105.77 | +6.7% | Aug 4, 2025 |
| Barclays | Richard Hightower | $137 | $112.48 | +23.9% | Jul 15, 2025 |
| Truist Financial | Michael Lewis | $131 | $119.06 | +18.5% | May 19, 2025 |
| Jefferies | Analyst unavailable | $139 | $121.49 | +25.7% | Mar 9, 2025 |
| Jefferies | Linda Tsai | $117 | $116.04 | +5.8% | Jan 1, 2025 |
| Stifel Nicolaus | Simon Yarmak | $121 | $119.33 | +9.4% | Nov 13, 2024 |
| Deutsche Bank | Omotayo Okusanya | $115 | $121.32 | +4.0% | Sep 10, 2024 |
| Evercore ISI | Steve Sakwa | $116 | $122.17 | +4.9% | Sep 9, 2024 |
| Goldman Sachs | Julien Blouin | $139 | $126.6 | +25.7% | Sep 4, 2024 |
| Piper Sandler | Alexander Goldfarb | $128 | $122.9 | +15.8% | Aug 26, 2024 |
| Wells Fargo | James Feldman | $127 | $122.6 | +14.8% | Aug 26, 2024 |
| Truist Financial | Michael Lewis | $133 | $122.4 | +20.3% | Aug 23, 2024 |
| Bank of America Securities | Jeffrey Spector | $147 | $119.54 | +32.9% | Aug 12, 2024 |
| RBC Capital | Brad Heffern | $122 | $114.96 | +10.3% | Aug 5, 2024 |
| Mizuho Securities | Vikram Malhotra | $108 | $99.4 | -2.3% | May 30, 2024 |
| Robert W. Baird | Amanda Sweitzer | $115 | $103.6 | +4.0% | May 28, 2024 |
| Morgan Stanley | Adam Kramer | $105.5 | $106.74 | -4.6% | May 14, 2024 |
| Mizuho Securities | Vikram Malhotra | $111 | $105.08 | +0.4% | May 6, 2024 |
| RBC Capital | Brad Heffern | $110 | $105.08 | -0.5% | May 6, 2024 |
| Piper Sandler | Alexander Goldfarb | $110 | $105.08 | -0.5% | May 6, 2024 |
| Truist Financial | Michael Lewis | $114 | $102.13 | +3.1% | Apr 9, 2024 |
| Truist Financial | Michael Lewis | $113 | $98.19 | +2.2% | Mar 12, 2024 |
| Truist Financial | Ki Bin Kim | $117 | $94.49 | +5.8% | Feb 21, 2024 |
| Wedbush | Richard Anderson | $98 | $92.7 | -11.4% | Dec 4, 2023 |
| Piper Sandler | Alexander Goldfarb | $194 | $84.63 | +75.4% | Oct 31, 2023 |
| Truist Financial | Michael Lewis | $134 | $108.62 | +21.2% | Aug 8, 2023 |
| Mizuho Securities | Vikram Malhotra | $125 | $113.01 | +13.0% | Jan 10, 2023 |
| UBS | Analyst unavailable | $137 | $116.78 | +23.9% | Dec 15, 2022 |
| Truist Financial | Analyst unavailable | $136 | $117.02 | +23.0% | Nov 29, 2022 |
| Evercore ISI | Analyst unavailable | $147 | $117.32 | +32.9% | Sep 27, 2022 |
| Evercore ISI | Analyst unavailable | $150 | $127.24 | +35.6% | Sep 19, 2022 |
| Mizuho Securities | Analyst unavailable | $136 | $129 | +23.0% | Sep 19, 2022 |
| Barclays | Analyst unavailable | $169 | $130.76 | +52.8% | Sep 15, 2022 |
| Goldman Sachs | Analyst unavailable | $158 | $146.96 | +42.9% | Aug 16, 2022 |
| RBC Capital | Analyst unavailable | $155 | $139.59 | +40.2% | Aug 1, 2022 |
| Piper Sandler | Analyst unavailable | $155 | $133.83 | +40.2% | Jul 20, 2022 |
| Mizuho Securities | Analyst unavailable | $142 | $133.97 | +28.4% | Jun 27, 2022 |
| Truist Financial | Analyst unavailable | $149 | $134.61 | +34.7% | Jun 24, 2022 |
| Robert W. Baird | Analyst unavailable | $153 | $134.61 | +38.4% | Jun 24, 2022 |
| Truist Financial | Analyst unavailable | $160 | $140.28 | +44.7% | May 25, 2022 |
| Scotiabank | Analyst unavailable | $171 | $138.39 | +54.6% | May 19, 2022 |
| Evercore ISI | Richard Hightower | $178 | $165.33 | +61.0% | Feb 4, 2022 |
| BMO Capital | John Kim | $179 | $164.3 | +61.9% | Feb 3, 2022 |
| Barclays | Anthony Powell | $193 | $163.77 | +74.5% | Jan 18, 2022 |
| Wells Fargo | Tammi Fique | $180 | $164.76 | +62.8% | Nov 22, 2021 |
| Bank of America Securities | Jeffrey Spector | $178 | $144.9 | +61.0% | Sep 27, 2021 |
| Goldman Sachs | Chandni Luthra | $172 | $148.71 | +55.5% | Sep 23, 2021 |
| Piper Sandler | Alexander Goldfarb | $178 | $150.1 | +61.0% | Sep 1, 2021 |
Track every rating change on CPT the moment it posts. Free to start.
Start freeMarket reaction
event-close to next-session close
Stock move
-0.5%
Event window
SPY move
+0.3%
Same window
Abnormal move
-0.8%
Stock minus SPY
Volume
1.6×
Versus trailing sessions
Subsequent drift
+1.6%
Up to 20 sessions
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What changed
Q1 2026 marked the first quarter of Camden's fiscal year. Core FFO of $1.70 beat guidance, EPS of $0.40 surpassed the $0.28 consensus by 42%, and revenue of $388.8M exceeded estimates by 2.3%. Bad debt reached its lowest level since COVID, aided by 2026 tax refunds and enhanced credit screening. The company completed $423M in share repurchases but guided no further buybacks for the year. Camden acquired two communities (Camden Alpharetta, 269 units in Atlanta; Camden at Lake Nona, 288 units in Orlando) and has $250M of its $1B acquisition pipeline awarded. The California portfolio sale attracted over 230 interested parties and is being negotiated with a single buyer, with 60% of proceeds slated for 1031 exchanges.
Guidance delta
Full-year 2026 guidance was maintained. No additional share repurchases are included in the 2026 guidance, a shift from the $423M executed in Q1. Management expressed confidence that the peak leasing season will drive higher occupancy and blended rates in Q3 and Q4. Capex outlook is stable.
Key takeaways
- Q1 core FFO of $1.70 per share beat the midpoint of guidance; EPS of $0.40 topped consensus by 42% and revenue of $388.8M exceeded estimates by 2.3%.
- New apartment supply has been cut roughly 50%, tightening vacancy and supporting rent growth across Sunbelt markets.
- Share repurchases totaled $423M but no further buybacks are guided for 2026.
- California disposition proceeds — $650M earmarked for 1031 exchanges — are being redeployed into high-growth Sunbelt acquisitions, with a $1B full-year target and $250M already awarded.
- Management expects the peak leasing season to drive higher occupancy and blended rates in Q3 and Q4, with bad debt at its lowest level since COVID.
Management priorities
- Deploy California sale proceeds through 1031 exchanges into high-growth Sunbelt acquisitions, targeting $1B in 2026.
- Advance AI-driven revenue management and business-intelligence tools across the portfolio for real-time unit pricing.
- Develop three identified land sites to add value.
- Maintain a strong balance sheet while continuing opportunistic share repurchases.
- Capitalize on reduced supply and robust job creation in Texas and other Sunbelt metros.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-31T16:41:28.477267+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-31T16:41:28.474575+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.