CPT

AI Research

$600M bond at 4.90%; 2026 Core FFO midpoint $6.75; Sun Belt supply pressure remains

Camden Property Trust issued a $600M bond at 4.90% interest, enhancing financial flexibility while facing Sun Belt market challenges from new apartment supply. Q4 2025 FFO was $1.73 per share and the company declared a Q1 2026 dividend of $1.06 per share, with 2026 guidance setting Core FFO midpoint at $6.75. The stock traded at ~$100.61 with a consensus target of $115.61, implying 7.2% upside, as management confirmed Q1 2026 operating trends are in line with guidance.