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Camden Property
(NYSE:CPT)
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Rating:64Neutral
Price Target:
$121.00
â–²(6.39% Upside)
Action:Reiterated
Date:07/31/26
CPT scores in the mid-range primarily due to steady but pressured fundamentals: strong margins and generally positive cash generation are offset by a sharp TTM revenue decline, weaker recent cash-flow coverage, and some uncertainty in the latest balance-sheet snapshot. Technicals are moderately supportive with the price holding above key intermediate/long-term moving averages. Valuation is a headwind given the high P/E despite a solid dividend yield, while the earnings call suggests stable operations and capital strength but limited near-term NOI/FFO upside and some one-off/timing risks.
Positive Factors
Stable high net margins
Camden has maintained mid-20% net margins across recent annual periods, which supports persistent NOI-to-net income conversion. Durable margin strength in a residential REIT underpins dividend coverage and resilience to cyclical rent fluctuations, sustaining cash available for operations and capital needs.
Negative Factors
Sharp TTM revenue decline
A roughly 25% TTM revenue drop materially reduces the revenue base that supports NOI and FFO. If sustained or reflective of timing of dispositions, such declines pressure long-term payout capacity, capital reinvestment plans and make operating margin maintenance more challenging across the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable high net margins
Camden has maintained mid-20% net margins across recent annual periods, which supports persistent NOI-to-net income conversion. Durable margin strength in a residential REIT underpins dividend coverage and resilience to cyclical rent fluctuations, sustaining cash available for operations and capital needs.
Read all positive factors
Camden Property Key Performance Indicators (KPIs)
Any
Revenue by Category
Breaks down income sources, highlighting which segments contribute most to the company’s earnings and where growth opportunities or risks may lie.
Breaks down income sources, highlighting which segments contribute most to the company’s earnings and where growth opportunities or risks may lie.
Data provided by:
The Fly
The FlyCamden Property (CPT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$15.74B
Dividend Yield3.72%
Average Volume (3M)984.26K
Price to Earnings (P/E)32.1
Beta (1Y)0.46
Revenue Growth1.45%
EPS Growth230.03%
CountryUS
Employees1,640
SectorReal Estate
Sector Strength53
IndustryREIT - Residential
Share Statistics
EPS (TTM)3.02
Shares Outstanding100,519,730
10 Day Avg. Volume1,002,942
30 Day Avg. Volume984,260
Financial Highlights & Ratios
PEG Ratio0.23
Price to Book (P/B)2.73
Price to Sales (P/S)7.58
P/FCF Ratio30.89
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$115.58Price Target Upside1.63% Upside
Rating ConsensusHold
Number of Analyst Covering18
EPS Forecast (FY)1.12
Revenue Forecast (FY)$1.56B
Camden Property Business Overview & Revenue Model
Company Description
Camden Property Trust, an S&P 400 listed entity, specializes in real estate, primarily through the ownership, operation, development, renovation, purchase, and building of multi-family residential complexes. Currently, Camden possesses stakes in a...
How the Company Makes Money
Camden primarily makes money by leasing apartment units in the communities it owns and operates, generating rental revenue from monthly lease payments. In addition to base rent, it earns other property-level income tied to apartment operations, su...
Camden Property Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Oct 22, 2026
Earnings Call Sentiment Positive
The call balanced solid operational and financial strengths—strong liquidity, disciplined capital allocation (notably large share repurchases), low bad debt, improving leasing trends in April, and constructive Sunbelt market fundamentals—against notable near-term headwinds including a $53M legal settlement, reaffirmed modest same-store guidance (NOI midpoint -0.5%), Q2 sequential compression, and timing risk tied to the California sale and supply absorption. Management emphasized conservative guidance and the timing sensitivity of earnings while expressing confidence in long-term market positioning and capital deployment.Positive Updates
Executive Succession and Culture Continuity
Promotions of Alexander Jessett to CEO, Laurie A. Baker to president/COO and Ben Fraker reinforce succession planning with each executive bringing 25+ years at Camden; Camden ranked #13 on Fortune Best Places to Work for the 19th consecutive year with 96% employee approval.
Negative Updates
Significant Non-Core Charges
Recorded $58.2M of non-core FFO charges in Q1, primarily a $53M class action settlement disclosed on April 9, plus ~$4.9M of anticipated losses from two climate technology funds, which materially reduced non-core results.
Read all updates
Q1-2026 Updates
Positive
Negative
Executive Succession and Culture Continuity
Promotions of Alexander Jessett to CEO, Laurie A. Baker to president/COO and Ben Fraker reinforce succession planning with each executive bringing 25+ years at Camden; Camden ranked #13 on Fortune Best Places to Work for the 19th consecutive year with 96% employee approval.
Read all positive updates
Company Guidance
Camden reaffirmed its full‑year 2026 same‑store guidance with midpoints of +0.75% revenue, +3.0% expense and -0.5% NOI, and kept the full‑year core FFO per share midpoint at $6.75; first‑quarter core FFO was $1.70 (beating the midpoint by $0.04), with Q2 core FFO guidance of $1.65–$1.69 (a $0.03 per‑share sequential mid‑point decline) driven by an expected $0.04 sequential same‑store NOI decrease partially offset by $0.01 of non‑same‑store NOI from acquisitions. Q1 results included unusually low bad debt (<40 bps), annualized net turnover of 30% (one of the lowest in company history) with 9.2% of move‑outs due to home purchases, $58.2M of non‑core FFO charges (including a $53M settlement and ~$4.9M investment losses), and the Q1 beat breakdown of +$0.01 revenue, +$0.02 property expense timing savings, and +$0.01 construction fee timing; renewal offers are being sent at mid‑3% increases. Balance‑sheet/capital actions noted: a $1.2B revolver recast (maturity extended four years, pricing down ~15 bps), $600M of 10‑year unsecured bonds at a ~5% all‑in rate, $423M of share repurchases in Q1 at an average $104.08 (plus $271M in 2025), a modeled $650M of proceeds used for repurchases, an expectation to reinvest ~60% of SoCal sale proceeds via 1031 exchanges and a plan for roughly $1B of acquisitions to maximize tax‑deferred exchanges; April trends showed occupancy ~95.4% (vs 95.1% in Q1) and blended rates roughly +100 bps vs Q1.Camden Property Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
58
Neutral
Cash Flow
61
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.18B | 1.57B | 1.54B | 1.54B | 1.42B | 1.14B |
| Gross Profit | 423.11M | 966.31M | 944.51M | 957.68M | 893.56M | 695.71M |
| EBITDA | 1.06B | 1.15B | 885.60M | 1.12B | 840.05M | 832.26M |
| Net Income | 326.21M | 384.46M | 163.29M | 403.31M | 653.61M | 303.91M |
Balance Sheet | ||||||
| Total Assets | 8.45B | 9.04B | 8.85B | 9.38B | 9.33B | 7.98B |
| Cash, Cash Equivalents and Short-Term Investments | 44.72M | 25.20M | 21.05M | 259.69M | 10.69M | 613.39M |
| Total Debt | 0.00 | 3.90B | 3.49B | 3.72B | 3.68B | 3.17B |
| Total Liabilities | 5.58B | 4.60B | 4.10B | 4.33B | 4.27B | 3.71B |
| Stockholders Equity | 3.80B | 4.36B | 4.68B | 4.98B | 4.99B | 4.20B |
Cash Flow | ||||||
| Free Cash Flow | 641.99M | 386.22M | 381.14M | 384.02M | 295.28M | 148.75M |
| Operating Cash Flow | 447.74M | 826.62M | 774.88M | 794.95M | 744.71M | 577.47M |
| Investing Cash Flow | -26.08M | -499.54M | -285.23M | -127.13M | -1.46B | -804.39M |
| Financing Cash Flow | -428.96M | -322.05M | -725.49M | -417.21M | 109.93M | 421.37M |
Camden Property Technical Analysis
Neutral
113.73
Price Trends
111.55
Positive
106.08
Positive
104.75
Positive
Market Momentum
0.49
Positive
54.05
Neutral
33.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CPT, the sentiment is Neutral. The current price of 113.73 is below the 20-day moving average (MA) of 113.98, above the 50-day MA of 111.55, and above the 200-day MA of 104.75, indicating a neutral trend. The MACD of 0.49 indicates Positive momentum. The RSI at 54.05 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CPT.
Camden Property Risk Analysis
Camden Property disclosed 21 risk factors in its most recent earnings report. Camden Property reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Camden Property Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $27.34B | 26.12 | 8.76% | 3.72% | 2.19% | -10.59% | |
72 Outperform | $25.81B | 29.48 | 8.08% | 4.11% | 4.22% | -13.36% | |
69 Neutral | $20.74B | 24.68 | 16.33% | 3.64% | 1.54% | 310.22% | |
68 Neutral | $19.72B | 33.09 | 10.35% | 3.52% | 5.27% | -14.94% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | $15.74B | 32.13 | 8.86% | 3.71% | 1.45% | 230.03% | |
60 Neutral | $16.39B | 41.10 | 7.46% | 4.56% | 0.85% | -29.51% |
* Real Estate Sector Average
CPT
Camden Property
113.29
8.37
7.97%
AVB
AvalonBay
187.78
8.62
4.81%
EQR
Equity Residential
67.12
6.65
10.99%
MAA
Mid-America Apartment
133.32
-2.66
-1.95%
ESS
Essex Property
281.86
31.66
12.65%
UDR
UDR
38.30
0.54
1.43%
Camden Property Corporate Events
Executive/Board Changes
Camden Property Trust Announces Chief Accounting Officer Transition
Positive
Jun 11, 2026
On June 5, 2026, Camden Property Trust announced that Senior Vice President and Chief Accounting Officer Michael P. Gallagher, the company’s principal accounting officer, will retire effective July 2, 2026. The Board simultaneously approved ...
Executive/Board ChangesShareholder Meetings
Camden Property shareholders approve directors and compensation plans
Positive
May 8, 2026
At its recent Annual Meeting, Camden Property shareholders voted 95,836,749 common shares in person or by proxy out of 104,726,511 shares outstanding, excluding 2,003,396 shares in deferred benefit plans that were not entitled to vote. Investors e...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Camden Property Launches New $500 Million Equity Program
Positive
Apr 30, 2026
On April 28, 2026, Camden Property Trust terminated its existing at-the-market equity program and entered into new agreements with a syndicate of banks to offer and sell up to $500 million of common shares, including the ability to use forward sal...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.