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Camden Property Trust Q3 profit jumps on California sale

By Reuters News


Overview

  • U.S. apartment REIT's Q3 EPS surged on California portfolio sale gain

  • Q3 property revenue declined slightly year-over-year

  • Company repurchased $50 mln in shares during the quarter


Outlook

  • Company expects 2026 EPS of $9.42 to $9.46, down from prior $9.93 guidance

  • Camden raises 2026 FFO guidance to $6.13-$6.17 per share from $6.12

  • Camden lowers 2026 same property revenue growth outlook to flat from prior 0.5%


Result Drivers

  • CALIFORNIA PORTFOLIO SALE - Q3 EPS was driven by a gain from the sale of the California portfolio, partially offset by impairments tied to land development

  • SLIGHT REVENUE DECLINE - Same property revenues and NOI declined slightly year-over-year, reflecting subdued rent growth and stable occupancy

  • ACQUISITIONS - Co acquired three apartment communities in Tampa, Charlotte, and Nashville for $305.2 mln, expanding its portfolio


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EPS

$8.71


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 7 "strong buy" or "buy", 15 "hold" and 3 "sell" or "strong sell"

  • The average consensus recommendation for the residential reits peer group is "buy."

  • Wall Street's median 12-month price target for Camden Property Trust is $109.00, about 4.3% above its November 4 closing price of $104.48

  • The stock recently traded at 93 times the next 12-month earnings vs. a P/E of 89 three months ago


Reuters Recommended Reads

  • Nov 2 - Centerspace Q3 revenue falls 16.6%, misses estimates; halts guidance due to pending merger

  • Nov 2 - Independence Realty Trust Q3 adjusted EBITDA beats estimates; reaffirms FY guidance

  • Nov 3 - NexPoint Residential Q3 revenue slightly beats estimates, net loss widens


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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