Camden Property Trust Q3 FY2026: a $1.0 billion sale, flat rents
Camden's quarter looks spectacular only because of a property sale. Strip out the $973.5 million gain and the landlord's core business was flat: Core FFO of $1.71 per share versus $1.70 a year ago, with same-property revenue down 0.1%. Read the scorecard on Core FFO and same-property NOI, not the $8.71 of reported EPS. The balance sheet is fine; the rent roll is the problem.
1 · Expected vs. Actual
Free preview belowReported EPS of $8.71 is not an operating number: it includes roughly $9.37 per share of gain on the California sale, partly offset by $0.83 per share of impairments on land development. Core FFO was $1.71 per share versus $1.70 a year ago, and Core AFFO slipped to $1.42 from $1.43. The $0.53 consensus EPS estimate is not comparable to either figure, so judge the beat against Core FFO.
Property revenue fell 3.7% to $381.061 million from $395.676 million a year earlier, and the same-property pool was down 0.1%. Some of the decline is shrinkage rather than weak rent, since the California portfolio left the base. Ignore the $4.38 million the data feed tags as revenue; that line is actually fee and asset management income.
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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 2026-11-06
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