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Camden Property Trust (CPT) is a real estate investment company focused on the ownership, management, development, and construction of multifamily apartment communities across the United States . The company operates 177 multifamily properties, comprising 59,996 apartment homes, and holds additional land for future development . CPT's business activities are concentrated in markets with strong economic growth and job creation, which drive demand for their apartment homes . The company generates nearly all its revenue from leasing apartment homes, as it operates in a single reportable segment without distinguishing operations by geography or property type .
- Multifamily Apartment Communities - Owns, manages, and leases apartment homes across the United States, generating the majority of the company's revenue through property leasing activities.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
D. Keith Oden ExecutiveBoard | Executive Vice Chairman of the Board | Executive Council Member, Center for Real Estate Finance at the University of Texas | Co-founder of CPT's predecessor companies in 1982, he served as President until 2019 and transitioned to Executive Vice Chairman, focusing on strategic leadership. | |
Richard J. Campo ExecutiveBoard | Chairman of the Board and CEO | None | Richard J. Campo has been Chairman and CEO since 1993, leading CPT to become one of the largest multifamily REITs in the U.S.. | View Report → |
Alexander J. Jessett Executive | President and CFO | None | Jessett has been with CPT since 2013, serving in various financial leadership roles before becoming President and CFO in 2024. | |
Ben Fraker Executive | SVP-Finance and Treasurer | None | Promoted to SVP-Finance and Treasurer in 2024, Fraker previously served as VP-Finance and Treasurer. | |
Laurie A. Baker Executive | EVP and COO | None | Baker joined CPT in 2012 and has held various leadership roles, including EVP of Operations, before becoming COO in 2021. | |
Frances Aldrich Sevilla-Sacasa Board | Independent Trust Manager | Director at Callon Petroleum Company and Invitation Homes, Inc. | Sevilla-Sacasa has been a CPT Trust Manager since 2011 and has extensive experience in financial services and wealth management. | |
Heather J. Brunner Board | Independent Trust Manager | Chairwoman and CEO of WP Engine, Inc. | Brunner joined CPT's Board in 2017 and has extensive experience in technology and innovation, currently leading WP Engine. | |
Javier E. Benito Board | Independent Trust Manager | General Manager, KFC Latin America and the Caribbean | Benito joined CPT's Board in 2022 and has extensive experience in marketing and financial management, with leadership roles at Yum! Brands and Coca-Cola. | |
Kelvin R. Westbrook Board | Lead Independent Trust Manager | Director at Archer-Daniels Midland Company, T-Mobile USA, Inc., and The Mosaic Company | Westbrook has been a CPT Trust Manager since 2008 and Lead Independent Trust Manager since 2017, with expertise in law, corporate finance, and telecommunications. | |
Mark D. Gibson Board | Independent Trust Manager | CEO, Capital Markets, Americas at Jones Lang LaSalle (JLL) | Gibson joined CPT's Board in 2020 and has significant expertise in real estate and corporate governance. | |
Renu Khator Board | Independent Trust Manager | Director at The PNC Financial Services Group | Chancellor of the University of Houston System and President of the University of Houston since 2008, Khator joined CPT's Board in 2017. | |
Scott S. Ingraham Board | Independent Trust Manager | Director at Kilroy Realty, Inc. | Co-founder of Rent.com and former CEO of Oasis Residential, Ingraham has been a CPT Trust Manager since 1998. | |
Steven A. Webster Board | Independent Trust Manager | Director at Callon Petroleum Company and Oceaneering International, Inc. | Webster has been a CPT Trust Manager since 1993 and has extensive experience in corporate finance and energy investments. |
- Given that the untrended yields on your recent development starts are below 6% while assets are trading in the low 5% cap rate range, how do you justify continuing these developments when the initial spread appears minimal and going-in yields seem risky?
- With property taxes having an unusually low increase of 0.2% this year and insurance costs actually decreasing, how prepared are you for a potential return to higher expense growth in 2025, and what impact could that have on your margins?
- Despite signing blended lease rates at only 0.9% in July, you're projecting an acceleration in lease growth for the remainder of the year; what gives you confidence in this forecast given the current leasing environment?
- In markets like Nashville and Austin where you're facing significant new supply and oversupply concerns into 2025, how do you plan to sustain occupancy and rental rate growth in these challenging conditions?
- Considering your recent stock buybacks at lower prices and the current stock price close to consensus NAV, under what circumstances would you consider issuing equity to fund acquisitions or development, and how do you evaluate the trade-off between dilution and growth opportunities?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Camden Leander Acquisition | 2025 | $67.7 million acquisition of 352 apartment homes built in 2023 in Leander, TX, purchased at 15% below replacement cost with an 85% occupancy and a 5% stabilized yield. This aligns with Camden's strategy to acquire newer, high-growth properties in key markets. |
Remaining 68.7% Ownership Interests in Two Discretionary Investment Funds | 2022 | Completed on April 1, 2022, this deal involved a cash consideration of approximately $1.1 billion (along with assuming $514–$520 million of secured debt) to consolidate 22 multifamily communities across major Sunbelt markets, resulting in a fair value gain of approximately $474.1 million and enhancing Camden's asset base. |
Recent press releases and 8-K filings for CPT.
- Strong balance sheet and liquidity were highlighted, with the presentation emphasizing consistent earnings and dividend growth for Q1 2025.
- The company provided detailed 2025 guidance, including a midpoint EPS of $1.15 and Core FFO guidance of $6.75 per share, alongside revenue and expense growth targets.
- Strategic initiatives centered on robust capital recycling via recent acquisitions (e.g., Camden Leander at $68M and Camden West Nashville at $131M) and an active development pipeline that supports portfolio quality.