Camden Property Trust Q2 EPS Plunges to $0.18, Sells California Portfolio for $1.625B, Raises 2026 Guidance
CPT sits 17% above its 52-week low of $96.53.
Summary
Camden Property Trust reported Q2 EPS of $0.18, down from $0.74 a year ago, but sold its California portfolio for $1.625 billion and raised 2026 EPS guidance to $9.76-$10.10. The company also repurchased $144.1 million in shares during the quarter.
Key Events · Earnings and Guidance · CPT
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Q2 EPS Plunges 76%
EPS fell to $0.18 from $0.74 in Q2 2025, driven by higher expenses and a $53 million litigation settlement. Core FFO of $1.68 per share was in line with guidance.
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California Portfolio Sold for $1.625B
The sale of 11 communities with 3,620 apartment homes closed on July 29, 2026. Approximately $0.9 billion of proceeds will be used to pay down debt, reducing leverage.
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2026 EPS Guidance Raised
Full-year EPS guidance was increased to $9.76-$10.10, up from a prior midpoint of $9.27, reflecting the gain on the California sale and improved operating expectations.
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Aggressive Share Repurchases Continue
Camden bought back 1.43 million shares for $144.1 million in Q2, bringing year-to-date repurchases to $422.9 million. $297.9 million remains under the current authorization.
Analysis · CPT · Real Estate & Construction
A sharp profit decline marks Camden's Q2, but the $1.625 billion California portfolio sale and subsequent debt paydown materially strengthen the balance sheet. Raising full-year EPS guidance signals confidence in the remaining portfolio. The $53 million litigation settlement is a notable one-time cost, yet it does not impact core FFO. Taken together, a major asset sale, aggressive share buybacks, and an improved outlook make this a significant update for investors.
At the time of this filing, CPT was trading at $113.29 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $15.3B. The 52-week trading range was $96.53 to $119.81. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.