Camden Q2 EPS $0.18 (down from $0.74); sells CA portfolio for $1.625B; updates 2026 guidance

CAMDEN PROPERTY TRUST

Q2 EPS $0.18 vs $0.74 YoY; Core FFO $1.68 vs $1.70; same property NOI (ex-CA) down 1.4%.
Sold 11 California communities for $1.625B on July 29; $0.9B used to pay down credit facility and commercial paper.
Acquired 2,061 apartment homes for $645.4M in Q2 and early Q3; also bought two land parcels for $45M.
Entered binding term sheet to settle revenue management software class action for $53M; settlement excluded from Core FFO.
2026 EPS guidance raised to $9.93 midpoint (from $9.27) due to CA sale gain; Core FFO guidance unchanged at $6.75.

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