Camden Property Trust reported second-quarter 2026 results with diluted EPS of $0.18 and FFO per diluted share of $1.68. The company completed the sale of its 11-property California portfolio for approximately $1.625 billion and repurchased $144.1 million of common shares in the quarter. Core FFO was $1.68 per diluted share and Core AFFO was $1.39 per diluted share for 2Q26.

Financial Highlights

  • Revenue (Property revenue) for three months ended June 30, 2026: $392.9 million; six months: $781.7 million.
  • Net income attributable to common shareholders: $18.8 million for the quarter; $61.2 million year-to-date.
  • Diluted earnings per common share (EPS): $0.18 for 2Q26; $0.59 year-to-date.
  • Funds From Operations (FFO) diluted: $1.68 per share for 2Q26 and $2.82 year-to-date; Core FFO diluted: $1.68 for 2Q26 and $3.39 year-to-date.
  • Core Adjusted FFO (Core AFFO) diluted: $1.39 for 2Q26 and $2.95 year-to-date.

Business Highlights

  • Completed sale of California portfolio: 11 operating communities (3,620 apartment homes) sold on July 29, 2026 for approximately $1.625 billion; proceeds used in part (~$0.9 billion) to repay unsecured revolver and commercial paper balances.
  • Share repurchase activity: repurchased 1,429,136 shares in the quarter at an average price of $100.78 ($144.1 million); YTD repurchases of 4,062,166 shares for $422.9 million with $297.9 million remaining authorization.
  • Development and leasing progress: continued leasing at Camden Village District (Raleigh, NC); began leasing at Camden South Charlotte (Charlotte, NC); Camden Village District showing 88% leased as of July 29, 2026.
  • Acquisitions: closed five apartment communities and two land parcels during the quarter (2,061 total homes acquired across transactions totaling $645.4 million); two additional communities acquired subsequent to quarter end.
  • Liquidity and financing: quarter-end liquidity approximately $287.4 million (cash $44.7 million; $242.7 million available under unsecured credit facility/commercial paper); subsequent issuance of a $350 million unsecured term loan maturing July 2027.

Original SEC Filing:

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