Camden Property Trust (CPT)


Market Price (11/5/2026): $104.5 | Market Cap: $12.1 BilSector: Real Estate | Industry: Multi-Family Residential REITs

Camden Property Trust (CPT)


Market Price (11/5/2026): $104.5
Market Cap: $12.1 Bil
Sector: Real Estate
Industry: Multi-Family Residential REITs

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.3%, Dividend Yield is 4.3%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 51%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 21%

Low stock price volatility
Vol 12M is 20%

Megatrend and thematic drivers
Megatrends include Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include IoT for Buildings, Real Estate Data Analytics, Show more.

Weak multi-year price returns
2Y Excs Rtn is -34%, 3Y Excs Rtn is -42%

Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -0.9%

Key risks
CPT key risks include [1] an oversupply of new apartments in its specific operating markets, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.3%, Dividend Yield is 4.3%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 51%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 21%
2 Low stock price volatility
Vol 12M is 20%
3 Megatrend and thematic drivers
Megatrends include Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include IoT for Buildings, Real Estate Data Analytics, Show more.
4 Weak multi-year price returns
2Y Excs Rtn is -34%, 3Y Excs Rtn is -42%
5 Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -0.9%
6 Key risks
CPT key risks include [1] an oversupply of new apartments in its specific operating markets, Show more.

CPT in ETFs

Weight = CPT's share of each fund

SPY0.02%
VOO0.01%
IVV0.02%
VTI0.01%
ITOT0.01%
IWB0.01%
RSP0.19%
VB0.12%
+24 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

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Updated on 11/1/2026

Camden Property Trust (CPT) stock has lost about 5% since 7/31/2026 because of the following key factors:

1. Camden Property Trust missed analysts' consensus earnings per share estimates for fiscal Q2 2026 by a significant margin of $1.49, reporting $0.18 EPS against an estimated $1.67 on July 30, 2026, just prior to the start of the period under review.

2. The Federal Reserve adopted a more hawkish monetary policy stance, with the Federal Open Market Committee (FOMC) raising the federal funds rate target range by a quarter point to 3.75%-4.0% at its September 2026 meeting. This was largely in response to inflation, measured by the Personal Consumption Expenditures (PCE) index, rising to 3.45% by August 2026 from 2.73% in January 2026, leading to a less attractive environment for real estate investments as the 10-year Treasury yield hit its highest level since 2002, reaching approximately 5.1% by late October 2026.

Show more
Updated on 11/1/2026

Camden Property Trust (CPT) stock has lost about 5% since 7/31/2026 because of the following key factors:

1. Camden Property Trust missed analysts' consensus earnings per share estimates for fiscal Q2 2026 by a significant margin of $1.49, reporting $0.18 EPS against an estimated $1.67 on July 30, 2026, just prior to the start of the period under review.

2. The Federal Reserve adopted a more hawkish monetary policy stance, with the Federal Open Market Committee (FOMC) raising the federal funds rate target range by a quarter point to 3.75%-4.0% at its September 2026 meeting. This was largely in response to inflation, measured by the Personal Consumption Expenditures (PCE) index, rising to 3.45% by August 2026 from 2.73% in January 2026, leading to a less attractive environment for real estate investments as the 10-year Treasury yield hit its highest level since 2002, reaching approximately 5.1% by late October 2026.

3. The broader REIT sector experienced weakness during the period, with the FTSE Nareit All Equity REITs Index posting negative returns in August and September 2026. Residential REITs, the sector in which Camden operates, were the only property sector in negative territory year-to-date by early November, down 1.8%. This sector-wide headwind was amplified by multiple analyst downgrades for CPT's price targets, including Wells Fargo lowering its target to $103 from $110, UBS to $101 from $105, and Goldman Sachs to $102 from $105.

4. Analyst projections for Camden Property Trust's fiscal Q3 2026 financial results anticipated a year-over-year decline in both revenues and Funds From Operations (FFO) per share. These expectations for weakening company-specific performance, ahead of the official earnings release scheduled for November 5, 2026, contributed to negative investor sentiment.

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Stock Movement Drivers

Fundamental Drivers

The -4.7% change in CPT stock from 7/31/2026 to 11/4/2026 was primarily driven by a -4.7% change in the company's P/E Multiple.
(LTM values as of)731202611042026Change
Stock Price ($)109.62104.48-4.7%
Change Contribution By: 
Total Revenues ($ Mil)1,5681,5680.0%
Net Income Margin (%)20.8%20.8%0.0%
P/E Multiple34.432.8-4.7%
Shares Outstanding (Mil)1021020.0%
Cumulative Contribution-4.7%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/4/2026
ReturnCorrelation
CPT-4.7% 
Market (SPY)2.6%20.7%
Sector (XLRE)0.1%76.5%

Fundamental Drivers

The 1.5% change in CPT stock from 4/30/2026 to 11/4/2026 was primarily driven by a 13.5% change in the company's P/E Multiple.
(LTM values as of)430202611042026Change
Stock Price ($)102.95104.481.5%
Change Contribution By: 
Total Revenues ($ Mil)1,5741,568-0.3%
Net Income Margin (%)24.4%20.8%-14.9%
P/E Multiple28.932.813.5%
Shares Outstanding (Mil)1081025.3%
Cumulative Contribution1.5%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/4/2026
ReturnCorrelation
CPT1.5% 
Market (SPY)7.0%-3.5%
Sector (XLRE)2.5%73.9%

Fundamental Drivers

The 9.4% change in CPT stock from 10/31/2025 to 11/4/2026 was primarily driven by a 108.1% change in the company's Net Income Margin (%).
(LTM values as of)1031202511042026Change
Stock Price ($)95.50104.489.4%
Change Contribution By: 
Total Revenues ($ Mil)1,5611,5680.5%
Net Income Margin (%)10.0%20.8%108.1%
P/E Multiple66.532.8-50.7%
Shares Outstanding (Mil)1091026.1%
Cumulative Contribution9.4%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/4/2026
ReturnCorrelation
CPT9.4% 
Market (SPY)13.4%9.0%
Sector (XLRE)13.3%67.3%

Fundamental Drivers

The 38.3% change in CPT stock from 10/31/2023 to 11/4/2026 was primarily driven by a 40.4% change in the company's Net Income Margin (%).
(LTM values as of)1031202311042026Change
Stock Price ($)75.57104.4838.3%
Change Contribution By: 
Total Revenues ($ Mil)1,5301,5682.5%
Net Income Margin (%)14.8%20.8%40.4%
P/E Multiple36.232.8-9.5%
Shares Outstanding (Mil)1091026.2%
Cumulative Contribution38.3%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/4/2026
ReturnCorrelation
CPT38.3% 
Market (SPY)89.7%33.4%
Sector (XLRE)49.8%75.3%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
CPT Return83%-36%-8%21%-1%-2%28%
Peers Return60%-33%11%12%-9%3%26%
S&P 500 Return27%-19%24%23%16%11%102%

Monthly Win Rates [3]
CPT Win Rate92%33%50%67%42%45% 
Peers Win Rate78%25%53%52%42%47% 
S&P 500 Win Rate75%42%67%75%67%36% 

Max Drawdowns [4]
CPT Max Drawdown-7%-38%-32%-11%-20%-18% 
Peers Max Drawdown-8%-36%-23%-12%-23%-16% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: MAA, ESS, UDR, INVH, AMH. See CPT Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/4/2026 (YTD)

How Low Can It Go

EventCPTS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-23.5%-9.5%
  % Gain to Breakeven30.6%10.5%
  Time to Breakeven198 days24 days
2023 SVB Regional Banking Crisis
  % Loss-19.9%-6.7%
  % Gain to Breakeven24.9%7.1%
  Time to Breakeven498 days31 days
2020 COVID-19 Crash
  % Loss-42.9%-33.7%
  % Gain to Breakeven75.1%50.9%
  Time to Breakeven380 days140 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-12.1%-3.7%
  % Gain to Breakeven13.7%3.9%
  Time to Breakeven196 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-14.0%-12.2%
  % Gain to Breakeven16.3%13.9%
  Time to Breakeven187 days62 days
2013 Taper Tantrum
  % Loss-18.9%-0.2%
  % Gain to Breakeven23.3%0.2%
  Time to Breakeven141 days1 days

Compare to MAA, ESS, UDR, INVH, AMH

In The Past

Camden Property Trust's stock fell -9.6% during the 2025 US Tariff Shock. Such a loss loss requires a 10.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventCPTS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-23.5%-9.5%
  % Gain to Breakeven30.6%10.5%
  Time to Breakeven198 days24 days
2020 COVID-19 Crash
  % Loss-42.9%-33.7%
  % Gain to Breakeven75.1%50.9%
  Time to Breakeven380 days140 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-22.7%-17.9%
  % Gain to Breakeven29.4%21.8%
  Time to Breakeven204 days123 days
2008-2009 Global Financial Crisis
  % Loss-61.2%-53.4%
  % Gain to Breakeven157.8%114.4%
  Time to Breakeven297 days1085 days

Compare to MAA, ESS, UDR, INVH, AMH

In The Past

Camden Property Trust's stock fell -9.6% during the 2025 US Tariff Shock. Such a loss loss requires a 10.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Camden Property Trust (CPT)

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Camden Property Trust (CPT) is a prominent real estate company specializing in multifamily apartment communities across the United States. Its core business encompasses the entire lifecycle of these properties, including their ownership, management, development, redevelopment, acquisition, and construction. This integrated approach allows Camden to maintain direct control over the quality and operations of its residential offerings from initial concept through day-to-day management.

The company's main product offering consists of apartment homes, which it leases to individuals in various U.S. markets. Camden currently operates a substantial portfolio of 167 properties comprising 56,850 apartment homes. With 7 additional properties under development, the company's footprint is set to expand to 174 properties and 59,104 apartment homes, reinforcing its position as a significant provider of quality rental housing for a diverse range of residents.

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The Marriott of apartment communities.

Like Hilton, but for long-term apartment rentals instead of hotel stays.

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  • Residential Leasing: Providing apartment homes for rent to individuals and families within their owned multifamily communities.
  • Property Management: Managing the daily operations, maintenance, and tenant services for their portfolio of apartment communities.
  • Real Estate Development and Construction: Planning and building new multifamily apartment communities from the ground up.
  • Real Estate Acquisition and Redevelopment: Purchasing existing apartment properties and enhancing their value through renovations and improvements.

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Camden Property Trust (CPT) primarily serves individual residents and families who rent apartment homes. As a real estate company focused on multifamily apartment communities, its customers are not other companies but rather end-users seeking housing.

The up to three categories of customers that Camden Property Trust serves include:

  1. Individuals and Families Seeking Long-Term Rental Housing: This broad category encompasses a diverse demographic of people who choose to rent rather than own, often for reasons such as flexibility, financial considerations, or personal preference for apartment living.
  2. Professionals and Relocating Individuals: Many customers are young professionals or individuals relocating for work who seek convenient, amenity-rich housing options with fewer long-term commitments than home ownership, often valuing proximity to urban centers or employment hubs.
  3. Residents Valuing Community Amenities and Maintenance-Free Living: A significant portion of Camden's residents are individuals or families who appreciate the comprehensive amenities offered (e.g., fitness centers, pools, communal spaces) and the convenience of a maintenance-free lifestyle provided by professional property management.

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Ric Campo, Chairman of the Board and Chief Executive Officer

Ric Campo has served as Camden's Chief Executive Officer since the Company's initial public offering in 1993. He co-founded Camden's predecessor companies in 1982 with Keith Oden. Under his leadership, Camden has grown from a Texas-based real estate firm with assets valued at $200 million in 1993 to an industry leader with a national footprint and assets valued at more than $16 billion. Prior to co-founding Camden's predecessor companies, Mr. Campo worked in the finance department of Century Development Corporation.

Alex Jessett, President – Chief Financial Officer

Alex Jessett was promoted to President and Chief Financial Officer in April 2024, having previously served as Executive Vice President – Chief Financial Officer since 2013. He joined Camden in 1999 and has held various roles within the company. Since joining Camden, Mr. Jessett has been responsible for over $25 billion of debt and equity issuances and structured real estate transactions. Before joining Camden, he began his career in real estate at Comerica Bank of Texas in the Real Estate Lending department.

Keith Oden, Executive Vice Chairman of the Board

Keith Oden co-founded Camden's predecessor companies in 1982 with Ric Campo. For over twenty years, he has been committed to developing Camden into one of the best multifamily companies in the industry. Under his purview, Camden successfully completed the mergers of three public real estate companies: Paragon, Oasis Residential, and Summit Properties.

Laurie Baker, Executive Vice President – Chief Operating Officer

Laurie Baker is responsible for the oversight and strategy of Camden's Portfolio Operations, as well as Asset Management, Sustainability, Revenue and Business Intelligence, Information Technology, Marketing, and Camden's customer experience. She has held several roles during her time with Camden, including Senior Vice President of Fund & Asset Management, and has been responsible for Camden's reposition and redevelopment program, totaling more than $900 million in property improvements.

Kim Callahan, Senior Vice President – Investor Relations

Kim Callahan serves as the primary point of contact for Camden's investors and analysts and manages all investor communications. She joined Camden in 1996 and previously served as its Director and Vice President of Finance.

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Here are the key risks to Camden Property Trust (CPT):

  1. Interest Rate Sensitivity: As a real estate investment trust (REIT) heavily reliant on debt for acquisitions, development, and operations, Camden Property Trust is highly susceptible to fluctuations in interest rates. Rising interest rates directly increase borrowing costs, which can significantly reduce profit margins, make new projects more expensive, and increase the cost of refinancing existing debt. Higher rates can also impact property valuations by increasing capitalization rates, potentially leading to lower asset values and making the company's dividend yields less attractive compared to fixed-income alternatives.

  2. Multifamily Market Oversupply and Rent Growth Pressure: Camden Property Trust faces significant headwinds from an oversupply of new multifamily apartment units, particularly in key Sunbelt markets where the company has a substantial presence. This influx of new supply can lead to increased competition, lower occupancy rates, and pressure on rental income and rent growth. For instance, Camden has faced challenges in markets like Austin due to excessive supply impacting Net Operating Income.

  3. Escalating Operating and Construction Costs: The company is exposed to the risk of persistently escalating construction costs, which impacts its development activities and capital expenditures. Furthermore, rising operating expenses, including insurance, labor, marketing, repairs, and maintenance, can pressure net operating income and overall profitability for its existing portfolio of apartment communities.

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The addressable market for Camden Property Trust's main products and services, primarily multifamily apartment communities, is substantial within the United States.

The United States multifamily market was valued at approximately $265 billion in 2022 and is projected to grow to $466 billion by 2030, with a compound annual growth rate (CAGR) of 7.31% between 2023 and 2030. This market encompasses various activities including ownership, management, development, and acquisition of multifamily properties.

Specifically, within the apartment rental sector, the industry's revenue in the United States is expected to reach $305.7 billion by the end of 2026. Multifamily rentals constituted 33% of the U.S. rental housing stock in 2024, reaching a record 12.1 million units.

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Camden Property Trust (CPT) is expected to drive future revenue growth over the next two to three years through several strategic initiatives and market dynamics:

  1. Strategic Repositioning and Investment in Sun Belt Markets: Camden is actively reallocating capital by divesting lower-growth assets, such as a significant sale of California properties expected to be between $1.5 billion and $2 billion. The proceeds from these sales are being reinvested into higher-growth Sun Belt markets across the United States. This strategic shift is anticipated to enhance revenue as these Sun Belt markets are projected to outperform, driven by strong demand and absorption of supply.
  2. Anticipated Market Rent Growth: Despite some recent modest declines in new lease rates, Camden Property Trust anticipates approximately 2% market rent growth for its portfolio in 2026, with the majority of this growth expected in the second half of the year. This growth is largely predicated on the absorption of new multifamily supply that peaked in 2024, leading to tighter market fundamentals and a return of pricing power in key regions like Atlanta, Dallas, Nashville, and Austin.
  3. New Development and Portfolio Expansion: The company plans significant development activity in the coming years, with up to $335 million in development starts and approximately $200 million in total development spend in 2026. These new developments, alongside strategic acquisitions, will expand Camden's portfolio of apartment homes, directly contributing to an increase in rental income once these properties are operational and leased.
  4. Growth in Other Property-Related Income: Beyond rental revenue, Camden also expects growth from other income streams. This primarily includes utility rebilling to residents and various fee incomes, which are projected to grow around 2% in 2026, adding approximately 20 basis points to same-store revenue growth.

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Share Repurchases

  • In February 2026, Camden's Board of Trust Managers authorized a new share repurchase program up to $600.0 million, which remains entirely available for future repurchases.
  • During the year ended December 31, 2025, Camden repurchased 2,531,018 common shares for a total of $270.6 million.
  • Subsequent to December 31, 2025, an additional 1,096,807 common shares were repurchased for $120.7 million.

Share Issuance

  • No significant share issuances were identified over the last 3-5 years; Camden Property Trust's shares outstanding saw a slight decline from 2023 to 2025.

Outbound Investments

  • For the full year 2025, Camden sold seven older communities with an average age of 22 years for $375 million.
  • In Q4 2025, the company disposed of three communities in Houston and Phoenix for a total of $201 million.
  • Subsequent to Q4 2025, Camden began marketing for sale 11 operating communities in Southern California, targeting $1.60 billion to $2.00 billion in dispositions.

Capital Expenditures

  • As of December 31, 2025, approximately $213.8 million remained to be funded under Camden's existing wholly-owned development pipeline.
  • The primary focus of capital expenditures, particularly "Revenue Enhancing Capex and Repositions," is to improve a community's cash flow and competitive position through upgrades like kitchen and bath renovations or new amenities.

Better Bets vs. Camden Property Trust (CPT)

Peer Outperformance in Multi-Family Residential REITs

CPT has outperformed 55% of its 11 Multi-Family Residential REITs peers over 5Y. Multi-Family Residential REITs ranks 8th of 12 industries in Real Estate by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Multi-Family Residential REITs constituents that CPT has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
67%
of 12 industry peers · 7.3% return
3Y
75%
of 12 industry peers · 29.6% return
5Y
55%
of 11 industry peers · -22.1% return
No Multi-Family Residential REITs peer with a comparable growth profile has beaten CPT by more than 20pp over 5Y.
Median price return by industry across the Real Estate sector, ranked by 5Y. Multi-Family Residential REITs is CPT's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care REITs 15 20.7%67.7%77.8% WELL 247% · OHI 144% · CTRE 140%
Retail REITs 23 17.8%37.9%27.1% SKT 121% · SPG 80% · BRX 54%
Hotel & Resort REITs 16 66.8%47.9%15.7% HST 87% · RHP 78% · DRH 63%
Other Specialized REITs 11 1.1%26.3%14.6% IRM 210% · LAMR 70% · OUT 67%
Real Estate Development 6 -0.9%22.3%10.8% JOE 56%
Industrial REITs 11 17.3%33.8%1.4% EGP 18% · STAG 10% · FR 7%
Single-Family Residential REITs 4 0.8%1.6%-17.1% AMH -7% · ELS -15% · INVH -20%
Multi-Family Residential REITs ← 12 -0.4%21.8%-22.3% ESS -2% · VMRK -7% · UDR -16%
Diversified REITs 12 8.7%13.7%-24.0% EPRT 16% · WPC 14%
Real Estate Services 27 -24.1%-8.0%-30.4% JLL 48% · CBRE 34% · NMRK -15%
Office REITs 19 4.7%37.4%-30.5% CDP 48% · SLG 3% · HIW 0%
Telecom Tower REITs 3 7.3%10.1%-34.8% AMT -18% · CCI -35% · SBAC -39%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

CPTMAAESSUDRINVHAMHMedian
NameCamden P.Mid-Amer.Essex Pr.UDR Invitati.American. 
Mkt Price104.50122.19271.5637.2227.5732.6370.86
Mkt Cap10.714.217.511.916.211.813.0
Rev LTM1,5682,2251,9461,7122,8981,8761,911
Op Inc LTM281585572328721482527
FCF LTM322623982596950759691
FCF 3Y Avg367714937590912713714
CFO LTM8071,0011,1098541,189865933
CFO 3Y Avg7971,0601,0748641,145832962

Growth & Margins

CPTMAAESSUDRINVHAMHMedian
NameCamden P.Mid-Amer.Essex Pr.UDR Invitati.American. 
Rev Chg LTM0.5%1.0%4.5%0.6%7.2%4.3%2.6%
Rev Chg 3Y Avg1.2%1.4%5.4%2.0%6.7%6.2%3.7%
Rev Chg Q-0.9%1.0%4.1%-0.9%6.3%2.8%1.9%
QoQ Delta Rev Chg LTM-0.2%0.3%1.0%-0.2%1.5%0.7%0.5%
Op Inc Chg LTM-5.5%-6.3%-1.1%6.1%-4.0%9.2%-2.5%
Op Inc Chg 3Y Avg-1.8%-5.3%10.3%4.3%1.5%11.2%2.9%
Op Mgn LTM17.9%26.3%29.4%19.2%24.9%25.7%25.3%
Op Mgn 3Y Avg19.1%28.5%27.5%18.0%27.0%24.5%25.7%
QoQ Delta Op Mgn LTM-0.6%-0.6%0.3%0.2%-1.0%0.3%-0.2%
CFO/Rev LTM51.5%45.0%57.0%49.9%41.0%46.1%48.0%
CFO/Rev 3Y Avg51.1%48.1%58.1%51.1%42.0%46.6%49.6%
FCF/Rev LTM20.6%28.0%50.5%34.8%32.8%40.5%33.8%
FCF/Rev 3Y Avg23.5%32.4%50.7%34.9%33.4%40.0%34.1%

Valuation

CPTMAAESSUDRINVHAMHMedian
NameCamden P.Mid-Amer.Essex Pr.UDR Invitati.American. 
Mkt Cap10.714.217.511.916.211.813.0
P/S6.86.49.07.05.66.36.6
P/Op Inc38.124.230.536.422.524.427.5
P/EBIT21.923.227.612.715.316.019.0
P/E32.836.550.317.123.824.628.7
P/CFO13.214.115.714.013.613.613.8
Total Yield7.3%7.8%5.8%10.6%8.6%8.0%7.9%
Dividend Yield4.3%5.0%3.8%4.7%4.4%3.9%4.4%
FCF Yield 3Y Avg3.2%4.4%5.3%4.8%5.1%5.8%4.9%
D/E0.50.40.40.50.50.40.4
Net D/E0.40.40.40.50.50.40.4

Returns

CPTMAAESSUDRINVHAMHMedian
NameCamden P.Mid-Amer.Essex Pr.UDR Invitati.American. 
1M Rtn7.3%6.3%-0.1%10.5%5.8%8.5%6.8%
3M Rtn-5.6%-8.0%-4.8%-2.2%-8.6%-4.6%-5.2%
6M Rtn1.7%-3.9%3.5%2.1%-2.0%2.7%1.9%
12M Rtn7.4%-0.7%10.0%13.0%0.7%5.7%6.5%
3Y Rtn29.6%12.2%39.7%26.9%-2.6%2.0%19.5%
1M Excs Rtn10.2%9.0%2.9%13.4%7.7%10.3%9.6%
3M Excs Rtn-2.8%-5.5%-2.0%0.6%-6.4%-2.7%-2.7%
6M Excs Rtn-1.1%-6.6%0.7%-0.7%-4.8%-0.1%-0.9%
12M Excs Rtn-1.6%-10.0%0.5%4.2%-8.8%-3.3%-2.5%
3Y Excs Rtn-41.8%-63.0%-37.1%-48.2%-75.3%-69.5%-55.6%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment1,5741,5441,5421,423 
Development and lease-up communities    0
Dispositions/Other    31
Non-same store communities    83
Same store communities    1,030
Total1,5741,5441,5421,4231,144


Price Behavior

Price Behavior
Market Price$104.48 
Market Cap ($ Bil)10.7 
First Trading Date07/22/1993 
Distance from 52W High-10.2% 
   50 Days200 Days
DMA Price$100.21$104.06
DMA Trenddownindeterminate
Distance from DMA4.3%0.4%
 3M1YR
Volatility18.4%19.8%
Downside Capture53.247.19
Upside Capture3.9112.03
Correlation (S&P 500)7.5%6.9%
CPT Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta-0.110.100.18-0.130.110.47
Up Beta0.16-0.28-0.00-0.56-0.090.43
Down Beta-0.28-0.40-0.41-0.150.350.51
Up Capture31%17%15%-1%8%18%
Bmk +ve Days12182862130427
Stock +ve Days12212961129393
Down Capture-33%48%71%4%9%72%
Bmk -ve Days10253664121325
Stock -ve Days9213464121354

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with CPT
CPT8.9%19.8%0.30-
Sector ETF (XLRE)13.5%14.5%0.6467.4%
Equity (SPY)13.2%12.9%0.689.0%
Gold (GLD)1.0%28.8%0.035.5%
Commodities (DBC)35.9%21.2%1.34-14.8%
Real Estate (VNQ)14.3%14.1%0.7067.8%
Bitcoin (BTCUSD)-28.2%43.4%-0.65-1.4%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with CPT
CPT-4.8%22.9%-0.27-
Sector ETF (XLRE)2.1%19.2%0.0179.1%
Equity (SPY)12.5%17.2%0.5546.0%
Gold (GLD)17.3%19.1%0.7311.4%
Commodities (DBC)8.0%19.6%0.296.2%
Real Estate (VNQ)1.8%18.9%-0.0179.4%
Bitcoin (BTCUSD)5.5%51.5%0.2916.8%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with CPT
CPT6.4%24.4%0.26-
Sector ETF (XLRE)7.2%20.4%0.3081.8%
Equity (SPY)15.4%18.0%0.7353.3%
Gold (GLD)11.9%16.5%0.599.7%
Commodities (DBC)7.4%18.1%0.3313.8%
Real Estate (VNQ)5.7%20.7%0.2382.8%
Bitcoin (BTCUSD)61.0%66.2%1.0113.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity5.2 Mil
Short Interest: % Change Since 93020260.3%
Average Daily Volume0.9 Mil
Days-to-Cover Short Interest5.9 days
Basic Shares Quantity102.3 Mil
Short % of Basic Shares5.1%

Earnings Returns History

Updated 9/1/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/30/2026-2.2%-2.3%-6.1%
4/30/2026-0.5%-0.9%1.0%
2/5/20260.1%0.9%-1.4%
11/6/20252.5%2.5%2.4%
7/31/2025-2.1%-2.0%2.5%
5/1/20255.3%2.3%2.6%
2/6/20251.2%1.2%3.7%
10/31/2024-1.8%2.4%7.0%
...
SUMMARY STATS   
# Positive141314
# Negative9109
Median Positive1.6%2.3%3.1%
Median Negative-2.1%-2.1%-2.5%
Max Positive5.3%11.0%12.6%
Max Negative-6.6%-7.2%-10.6%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/30/2026-2.2%-2.3%-6.1%
4/30/2026-0.5%-0.9%1.0%
2/5/20260.1%0.9%-1.4%
11/6/20252.5%2.5%2.4%
7/31/2025-2.1%-2.0%2.5%
5/1/20255.3%2.3%2.6%
2/6/20251.2%1.2%3.7%
10/31/2024-1.8%2.4%7.0%
8/1/20242.7%3.2%8.8%
5/2/20244.5%6.3%3.1%
2/1/20241.1%-1.7%1.2%
10/26/2023-6.6%-2.5%-1.7%
8/3/20231.9%1.1%0.2%
4/27/20233.3%2.1%-2.5%
2/2/2023-3.6%-3.3%-7.2%
7/28/2022-0.2%-3.0%-4.7%
4/28/2022-3.2%-7.2%-10.6%
2/3/20220.6%-0.6%3.0%
10/28/20210.2%-1.4%3.7%
7/29/20210.4%0.2%-1.3%
4/29/20210.4%0.8%4.4%
2/4/2021-1.8%2.3%-0.4%
10/29/20205.1%11.0%12.6%
SUMMARY STATS   
# Positive141314
# Negative9109
Median Positive1.6%2.3%3.1%
Median Negative-2.1%-2.1%-2.5%
Max Positive5.3%11.0%12.6%
Max Negative-6.6%-7.2%-10.6%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202607/31/202610-Q
03/31/202605/01/202610-Q
12/31/202502/12/202610-K
09/30/202511/07/202510-Q
06/30/202508/01/202510-Q
03/31/202505/02/202510-Q
12/31/202402/20/202510-K
09/30/202411/01/202410-Q
06/30/202408/02/202410-Q
03/31/202405/03/202410-Q
12/31/202302/22/202410-K
09/30/202310/27/202310-Q
06/30/202308/04/202310-Q
03/31/202304/28/202310-Q
12/31/202202/23/202310-K
09/30/202210/28/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202607/31/202610-Q
03/31/202605/01/202610-Q
12/31/202502/12/202610-K
09/30/202511/07/202510-Q
06/30/202508/01/202510-Q
03/31/202505/02/202510-Q
12/31/202402/20/202510-K
09/30/202411/01/202410-Q
06/30/202408/02/202410-Q
03/31/202405/03/202410-Q
12/31/202302/22/202410-K
09/30/202310/27/202310-Q
06/30/202308/04/202310-Q
03/31/202304/28/202310-Q
12/31/202202/23/202310-K
09/30/202210/28/202210-Q
06/30/202207/29/202210-Q
03/31/202204/29/202210-Q
12/31/202102/17/202210-K
09/30/202110/29/202110-Q
06/30/202107/30/202110-Q
03/31/202104/30/202110-Q
12/31/202002/18/202110-K
09/30/202010/30/202010-Q
06/30/202007/31/202010-Q
03/31/202005/08/202010-Q
12/31/201902/20/202010-K
09/30/201911/01/201910-Q

Recent Forward Guidance

Updated 7/31/2026

Latest: Q2 2026 Earnings Reported 7/30/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q3 2026 FFOReported1.621.641.66   
Q3 2026 Core FFOReported1.671.691.71   
Q3 2026 EPSReported9.149.269.38   
2026 FFOReported6.056.126.19   
2026 Core FFOReported6.686.756.82   
2026 Expenses GrowthReported2.0%2.5%3.0%   
2026 NOI GrowthReported-1.65%-0.6%0.45%   
2026 Revenue GrowthReported0.0%0.5%1.0% -0.2%LoweredGuidance: 0.75% for 2026
2026 EPSReported9.769.9310.11404.5% RaisedGuidance: 0.66 for 2026


Prior: Q1 2026 Earnings Reported 4/30/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q2 2026 EPSReported0.130.150.17-37.5% Lower NewGuidance: 0.24 for Q1 2026
2026 Revenue GrowthReported-0.25%0.75%1.75% 0.0%AffirmedGuidance: 0.75% for 2026
2026 EPSReported0.510.660.8120.0% RaisedGuidance: 0.55 for 2026

Q4 2025 Earnings Reported 2/5/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q1 2026 FFOReported1.611.631.65-4.1% Lower NewActual: 1.7 for Q4 2025
Q1 2026 Core FFOReported1.641.661.68-4.0% Lower NewActual: 1.73 for Q4 2025
Q1 2026 EPSReported0.220.240.26-31.4% Lower NewActual: 0.35 for Q4 2025
2026 FFOReported6.466.616.76-1.9% Lower NewActual: 6.74 for 2025
2026 Core FFOReported6.66.756.9-1.5% Lower NewActual: 6.85 for 2025
2026 Revenue GrowthReported-0.25%0.75%1.75% 0.0%Same NewActual: 0.75% for 2025
2026 Operating Margin GrowthReported-2.5%-0.5%1.5% -0.8%Lower NewActual: 0.25% for 2025
2026 EPSReported0.40.550.7-77.5% Lower NewActual: 2.44 for 2025

Q3 2025 Earnings Reported 11/6/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q4 2025 FFOReported1.681.71.72   
Q4 2025 Core FFOReported1.711.731.75   
Q4 2025 EPSReported0.330.350.37   
2025 FFOReported6.726.746.760.6% RaisedGuidance: 6.7 for 2025
2025 Core FFOReported6.836.856.870.6% RaisedGuidance: 6.81 for 2025
2025 Same Property Expense GrowthReported1.5%1.75%2.0%   
2025 Same Property NOI GrowthReported-0.25%0.25%0.75%   
2025 Same Property Revenue GrowthReported0.5%0.75%1.0% -0.2%LoweredGuidance: 1.0% for 2025
2025 EPSReported2.422.442.462.5% RaisedGuidance: 2.38 for 2025

Insider Activity

Updated 7/6/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Campo, Richard JExecutive ChairmanDirectSell6052026112.4230,0003,372,60033,437,868Form
2Gallagher, Michael PChief Accounting OfficerDirectSell2182026108.4316918,3254,298,165Form
3Baker, LaurieEVP - Chief Operating OfficerDirectSell2182026108.402,168235,00710,240,157Form
4Webster, Steven A DirectSell1022026109.1815416,81412,973,243Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Campo, Richard JExecutive ChairmanDirectSell6052026112.4230,0003,372,60033,437,868Form
2Gallagher, Michael PChief Accounting OfficerDirectSell2182026108.4316918,3254,298,165Form
3Baker, LaurieEVP - Chief Operating OfficerDirectSell2182026108.402,168235,00710,240,157Form
4Webster, Steven A DirectSell1022026109.1815416,81412,973,243Form

Investor Activity (13F)

Updated Nov 5, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Solel Partners LP$31.9 Mil6.8%19ADD +14.2%13F
Nixon Capital, LLC$17.5 Mil6.0%22Hold13F
Long Pond Capital, LP$39.2 Mil4.0%32ADD +647.3%13F
Hazelview Securities Inc.$14.2 Mil2.7%45TRIM -38.5%13F
Investure, LLC$23.2 Mil1.1%17ADD +30.1%13F
Carronade Capital Management, LP$7.6 Mil0.5%25TRIM -21.3%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Long Pond Capital, LP$39.2 Mil4.0%32ADD +647.3%13F
Investure, LLC$23.2 Mil1.1%17ADD +30.1%13F
Solel Partners LP$31.9 Mil6.8%19ADD +14.2%13F
Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
GRS Advisors, LLC$38.0 Mil3.4%33ExitedDec 31, 202513F
Hazelview Securities Inc.$14.2 Mil2.7%45TRIM -38.5%Mar 31, 202613F
Carronade Capital Management, LP$7.6 Mil0.5%25TRIM -21.3%Mar 31, 202613F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Long Pond Capital, LP$39.2 Mil4.0%32ADD +647.3%13F
Solel Partners LP$31.9 Mil6.8%19ADD +14.2%13F
Investure, LLC$23.2 Mil1.1%17ADD +30.1%13F
Nixon Capital, LLC$17.5 Mil6.0%22Hold13F
Hazelview Securities Inc.$14.2 Mil2.7%45TRIM -38.5%13F
Carronade Capital Management, LP$7.6 Mil0.5%25TRIM -21.3%13F
Core Cache Last Updated: 11/4/2026