CPT earnings analysis
What we found in CPT's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Camden Property Trust reported Q1 2026 results with revenue of $388.8 million, slightly below expectations of $389.9 million, while EPS exceeded estimates at $1.70 compared to an estimate of $1.66. The company noted a modest increase in same-store revenues, and an expected decline in FFO per share due to ongoing litigation, balancing concerns over certain expense increases.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- EPS Exceeds Estimates
- EPS was $1.70, beating estimates of $1.66 by 2.4%.
- Revenue Performance
- Revenue totaled $388.8 million, slightly missing expectations of $389.9 million.
- Same-Store Revenue Stability
- Same-store revenues grew by approximately 0.2% compared to the previous year.
- Gain on Property Sale
- Recognized a gain of $68.1 million from the sale of an operating property.
- Cost Control in G&A
- General and administrative expenses decreased by 13.2%, from $16.9 million to $14.7 million.
- Available Liquidity
- Approximately $1.2 billion remains available under the unsecured revolving credit facility.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Litigation Settlement Costs
- Entered into a binding term sheet to settle class action litigation for approximately $53.0 million.
- Increased Debt Levels
- Interest expense increased by approximately $3.6 million due to new debt issuance.
- Negative Operating Income Trends
- Total property NOI declined approximately $2.4 million, or 1.0%, compared to last year.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $1.7
- Gross margin
- 76.7%
- Operating margin
- 19.5%
What they said about what is next.
Guidance reflects a decrease in FFO expectations due to ongoing litigation.
The filing reads about the same as the one before it.
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing CPT makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
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