Camden Property Trust Q2 2026: Core FFO flat, CA sale lifts EPS view
Camden's second quarter was flat where it matters: Core FFO of $1.68 per share against $1.70 a year ago, with same-property net operating income down 1.4%. The headline EPS swing is mostly noise — last year carried a $47.293 million property gain, while 2026's guidance jump comes from the pending California sale. Read this REIT on Core FFO, occupancy and lease rates, not GAAP EPS.
1 · Expected vs. Actual
Free preview belowGAAP EPS of $0.18 looks ugly next to last year's $0.74, but that prior quarter included a $47.293 million gain on sale of an operating property that did not repeat. The cleaner REIT yardstick, Core FFO per diluted share, was $1.68 versus $1.70, and Core AFFO per share eased to $1.39 from $1.43. Against the $0.2083 consensus figure, the $0.18 GAAP print missed by $0.0283 — a reminder that EPS guidance here is riddled with one-off gains.
Property revenue was $392.944 million, down 0.9% from $396.509 million a year earlier, and same-property revenue excluding California slipped 0.1% year over year. Watch the data feed here: it tagged revenue at $3.131 million, which is really the fee and asset management line, while the true top line is the $392.944 million in the income statement. Rent pricing is the pressure point — effective new lease rates on the same-property portfolio excluding California fell 3.3%.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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