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Camden Property (CPT)
NYSE:CPT
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Camden Property
(NYSE:CPT)
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Rating:73Outperform
Price Target:
$116.00
â–²(7.06% Upside)
Camden Property's strong financial performance and robust cash flow generation are the primary strengths, supporting a solid overall score. The earnings call provides a cautiously optimistic outlook, though challenges in high supply markets and flat revenue growth temper expectations. The high P/E ratio suggests potential overvaluation, but the dividend yield offers some investor appeal. Technical indicators are neutral, indicating no strong trend direction.
Positive Factors
Balance Sheet Strength
A strong balance sheet with low leverage and no significant debt maturities until late 2026 provides Camden with financial flexibility to invest in growth opportunities and weather economic downturns.
Cash Flow Generation
Robust cash flow generation supports Camden's ability to fund operations, invest in property development, and return capital to shareholders, ensuring long-term financial health.
Resident Retention
High resident retention driven by affordability enhances Camden's occupancy rates and revenue stability, contributing to sustained rental income and operational efficiency.
Negative Factors
Flat Revenue Growth
Flat revenue growth indicates challenges in increasing rental income, which could impact Camden's ability to grow profits and fund future developments in a competitive market.
Decline in New Lease Rates
A decline in new lease rates suggests pricing pressure in the market, potentially affecting Camden's revenue growth and profitability if the trend continues.
Challenges in High Supply Markets
High supply in key markets can lead to increased competition and concessions, potentially reducing Camden's pricing power and impacting long-term revenue growth.
Camden Property (CPT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$15.22B
Dividend Yield3.9%
Average Volume (3M)1.32M
Price to Earnings (P/E)43.6
Beta (1Y)0.49
Revenue Growth1.41%
EPS Growth-21.93%
CountryUS
Employees1,660
SectorReal Estate
Sector Strength53
IndustryREIT - Residential
Share Statistics
EPS (TTM)1.00
Shares Outstanding106,395,330
10 Day Avg. Volume1,460,766
30 Day Avg. Volume1,324,366
Financial Highlights & Ratios
PEG Ratio-1.29
Price to Book (P/B)2.69
Price to Sales (P/S)8.15
P/FCF Ratio33.03
Enterprise Value/Market Cap0.76
Enterprise Value/Revenue7.37
Enterprise Value/Gross Profit12.02
Enterprise Value/Ebitda11.27
Forecast
1Y Price Target
$116.42Price Target Upside7.45% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering16
EPS Forecast (FY)1.15
Revenue Forecast (FY)$1.60B
Camden Property Business Overview & Revenue Model
Company DescriptionCamden Property Trust, an S&P 400 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 167 properties containing 56,850 apartment homes across the United States. Upon completion of 7 properties currently under development, the Company's portfolio will increase to 59,104 apartment homes in 174 properties. Camden has been recognized as one of the 100 Best Companies to Work For® by FORTUNE magazine for 13 consecutive years, most recently ranking #18. The Company also received a Glassdoor Employees' Choice Award in 2020, ranking #25 for large U.S. companies.
How the Company Makes MoneyCamden Property generates revenue primarily through the leasing of residential units in its multifamily communities. The company earns rental income from both long-term leases and short-term rentals, capitalizing on demand for quality housing in urban and suburban markets. In addition to rental income, Camden may also generate ancillary revenue from services such as parking fees, storage rentals, and pet fees. The company strategically invests in property development and redevelopment, enhancing its portfolio and increasing its rental income potential. Significant partnerships with local contractors and service providers further support its operational efficiency and cost management. Overall, Camden's revenue model is driven by its ability to maintain high occupancy rates, implement effective property management strategies, and respond to market trends.
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 Earnings Call Summary
Earnings Call Date:Nov 06, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Feb 05, 2026
Earnings Call Sentiment Neutral
The earnings call reflects a mix of strong apartment demand and impressive balance sheet management, contrasted by pressures from new supply and modest revenue growth. While Camden is navigating a challenging market with strategic share buybacks and financial discipline, the headwinds in high supply areas and flat revenue growth indicate a need for cautious optimism.Q3-2025 Updates
Positive Updates
Strong Apartment Demand
2025 is noted as one of the best years in the last 25 years for apartment absorption, with strong demand filling up recent deliveries.
Resident Retention and Affordability
Resident retention remains strong, supported by 33 months of wage growth exceeding rent growth, improving apartment affordability.
Share Buyback Program
Camden bought back $50 million of shares at a significant discount to consensus net asset value, with $400 million remaining in authorization.
Balance Sheet Strength
Camden maintains one of the strongest balance sheets with no major dilutive refinances over the next couple of years and a net debt-to-EBITDA ratio of 4.2x.
Core FFO Increase
Core FFO for Q3 was $186.8 million, or $1.70 per share, slightly ahead of prior guidance, with a full-year increase in guidance from $6.81 to $6.85 per share.
Negative Updates
Flat Same-Store Revenue Growth
Same-store revenue growth was only 0.8% for the quarter, with a year-to-date increase of 0.9% and a sequential increase of just 0.1%.
Decline in New Lease Rates
Effective new leases were down 2.5% for the third quarter, contributing to a blended rate growth decline of 40 basis points compared to the third quarter of 2024.
Challenges in High Supply Markets
Markets like Austin and Nashville face significant supply pressures, with some properties offering up to 10% concessions.
Reduction in Financial Guidance
Full-year 2025 outlook for same-store revenue growth was adjusted from 1% to 0.75% amid competitive pressures.
Company Guidance
During Camden Property Trust's third-quarter 2025 earnings call, the company provided an optimistic outlook for the remainder of the year and beyond, emphasizing strong apartment demand and a favorable supply-demand balance. Key metrics included a third-quarter same-store revenue growth of 0.8%, with a year-to-date increase of 0.9%. The occupancy rate averaged 95.5%, consistent with the prior year. Rental rates saw a decline of 2.5% for new leases and an increase of 3.5% for renewals, leading to a blended growth rate of 0.6%. Camden revised its full-year same-store revenue growth guidance to 0.75% and reduced the same-store expense midpoint from 2.5% to 1.75%. The company also reported core funds from operations for the third quarter at $186.8 million, or $1.70 per share, and increased its full-year core FFO guidance midpoint by $0.04, reaching $6.85 per share. Camden's balance sheet remains strong, with a net debt-to-EBITDA ratio of 4.2x, and no significant debt maturities until late 2026. The company highlighted its strategic share buyback, having repurchased $50 million worth of shares at a significant discount to consensus net asset value, with $400 million remaining in buyback authorization.Camden Property Financial Statement Overview
Summary
Camden Property exhibits strong financial health with impressive revenue growth and solid profitability margins. The balance sheet is stable with moderate leverage, and cash flow generation is robust, supporting future growth and investment opportunities. While there is a slight decline in net profit margin and ROE, the overall financial position remains strong, positioning the company well in the residential REIT industry.Income Statement
Camden Property shows strong revenue growth with a TTM increase of 54.1%, indicating robust demand in the residential REIT sector. The company maintains healthy profitability with a gross profit margin of 61.5% and a net profit margin of 22.9% in the TTM. EBIT and EBITDA margins are also strong at 32.3% and 61.1%, respectively, reflecting efficient operations. However, the net profit margin has decreased from previous years, suggesting some pressure on net income.85
Very Positive
Balance Sheet
The balance sheet reflects a stable financial position with a debt-to-equity ratio of 0.82, indicating moderate leverage. The return on equity (ROE) is 5.8% for the TTM, which is lower than previous years, suggesting a decline in profitability relative to equity. The equity ratio stands at 50.1%, showcasing a balanced capital structure. Overall, the company maintains a solid balance sheet with manageable debt levels.78
Positive
Cash Flow
Camden Property demonstrates strong cash flow performance with a significant free cash flow growth of 67.8% in the TTM. The operating cash flow to net income ratio is robust, indicating efficient cash generation relative to earnings. The free cash flow to net income ratio of 88.9% suggests effective conversion of earnings into cash flow, supporting the company's ability to fund operations and investments.88
Very Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.57B | 1.54B | 1.54B | 1.42B | 1.14B | 1.04B |
| Gross Profit | 961.60M | 944.51M | 957.68M | 893.56M | 695.71M | 620.86M |
| EBITDA | 1.03B | 885.60M | 1.12B | 840.05M | 832.26M | 589.24M |
| Net Income | 269.12M | 163.29M | 403.31M | 653.61M | 303.91M | 123.91M |
Balance Sheet | ||||||
| Total Assets | 9.06B | 8.85B | 9.38B | 9.33B | 7.98B | 7.20B |
| Cash, Cash Equivalents and Short-Term Investments | 25.93M | 21.05M | 259.69M | 10.69M | 613.39M | 420.44M |
| Total Debt | 3.74B | 3.49B | 3.72B | 3.68B | 3.17B | 3.17B |
| Total Liabilities | 4.44B | 4.10B | 4.33B | 4.27B | 3.71B | 3.68B |
| Stockholders Equity | 4.54B | 4.68B | 4.98B | 4.99B | 4.20B | 3.44B |
Cash Flow | ||||||
| Free Cash Flow | 695.04M | 381.14M | 384.02M | 295.28M | 148.75M | 92.07M |
| Operating Cash Flow | 782.16M | 774.88M | 794.95M | 744.71M | 577.47M | 519.32M |
| Investing Cash Flow | -567.75M | -285.23M | -127.13M | -1.46B | -804.39M | -429.60M |
| Financing Cash Flow | -219.45M | -725.49M | -417.21M | 109.93M | 421.37M | 307.32M |
Camden Property Technical Analysis
Positive
108.35
Price Trends
105.09
Positive
104.65
Positive
107.67
Positive
Market Momentum
0.92
Positive
53.16
Neutral
37.84
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CPT, the sentiment is Positive. The current price of 108.35 is below the 20-day moving average (MA) of 108.86, above the 50-day MA of 105.09, and above the 200-day MA of 107.67, indicating a neutral trend. The MACD of 0.92 indicates Positive momentum. The RSI at 53.16 is Neutral, neither overbought nor oversold. The STOCH value of 37.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | $25.51B | 21.99 | 9.79% | 3.83% | 7.06% | 12.05% | |
73 Outperform | $15.22B | 43.61 | 5.79% | 3.90% | 1.41% | -21.93% | |
71 Outperform | $16.37B | 28.88 | 9.41% | 4.42% | 0.91% | 6.55% | |
70 Outperform | $23.29B | 20.38 | 10.55% | 4.52% | 4.78% | 24.74% | |
69 Neutral | $16.88B | 19.25 | 15.30% | 3.98% | 6.92% | 53.76% | |
69 Neutral | $19.48B | 84.85 | 4.41% | 4.81% | 2.38% | 17.42% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% |
* Real Estate Sector Average
CPT
Camden Property
108.35
-0.07
-0.06%
AVB
AvalonBay
180.80
-31.76
-14.94%
EQR
Equity Residential
61.17
-5.76
-8.60%
MAA
Mid-America Apartment
135.44
-8.84
-6.13%
ESS
Essex Property
253.52
-19.58
-7.17%
UDR
UDR
37.08
-2.31
-5.87%
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.