Camden Property Trust Completes $3.25 Billion Capital Reallocation Plan
Camden Property Trust (CPT) announced the near completion of its $3.25 billion capital reallocation plan, with only $200 million in acquisitions remaining to be identified. The company sold its entire California portfolio for $1.625 billion and is reallocating funds toward high-growth Sunbelt markets while maintaining a presence in existing ones like D.C. Operational performance showed strong results, including 95.8% occupancy in July and an improvement of 160 basis points in signed blended lease rates sequentially in Q2—well above the prior year's gain. The company reaffirmed its full-year core FFO guidance midpoint at $6.75 per share despite significant portfolio changes. Capital allocation included $694 million for share repurchases and $645 million for acquiring newer Sunbelt assets with an average age of five years, making the portfolio the youngest in the multifamily REIT sector.
Topics: acquisitions capital reallocation operational performance real estate share repurchases