Camden Property Trust reported second-quarter 2026 results with revenue largely steady versus the year-ago quarter while earnings and EPS declined, reflecting lower gains from property sales and higher expenses. Revenue was $392.9M and diluted EPS was $0.18 for the quarter.
Financial Highlights
- Revenue was $392.9M for Q2 2026, compared with $396.5M in the year-ago quarter; YoY change (0.9%).
- Net income was $18.8M attributable to common shareholders for Q2 2026, compared with $80.7M in the year-ago quarter; decline driven by a prior-year property sale and higher expenses.
- Diluted EPS was $0.18 for Q2 2026, compared with $0.74 in the year-ago quarter.
Business Highlights
- Same-store property revenues were essentially flat year over year, supported by steady occupancy and resident retention.
- Portfolio growth included the addition of seven operating properties (five in the first half) and one lease-up property; the development pipeline totals 2,095 projected homes.
- There are three properties under construction representing 1,162 homes with approximately $140M remaining to complete; the broader pipeline carries estimated costs of $868M.
- Total property NOI was essentially flat YoY, with gains driven by non‑same‑store and lease‑up communities.
- Management classified 11 California properties as held for sale and subsequently sold them to support capital redeployment and liquidity.
Original SEC Filing:
This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.