Camden is exiting California, settling legal risk, and buying back discounted shares as Sun Belt apartment supply pressures approach a turning point.
Overview
Camden Property Trust is repositioning into a cleaner, more focused Sun Belt multifamily compounder. Q1 2026 Core FFO beat expectations despite supply-driven rent pressure, while a $53 million RealPage settlement removed a major legal overhang. Management is exiting California, recycling capital into higher-growth markets, repurchasing discounted shares, and maintaining an investment-grade balance sheet. With multifamily supply expected to fall sharply into 2027, Camden appears well positioned for renewed NOI and FFO growth.