CAMDEN PROPERTY TRUST (CPT) Company Report

Core FFO of $193.1 M or $1.73 per share, beating the midpoint of guidance by $0.03
Q4 same-property revenue growth of 76 bps; rental rate change: new leases -5.3%, renewals +2.8%, blended -1.6%
2026 guidance: Core FFO $6.60–$6.90 per share (midpoint $6.75), a $0.13/share decrease; same-store NOI -50 bps, revenue growth 75 bps, expense growth 3%
Strategic actions: sold seven older assets for $375 M and acquired four newer for $423 M; marketing 11 California communities ($1.5–$2 B), planning ~~$1.1 B 1031 redeployment and $650 M share buybacks (~~$400 M completed) with new $600 M authorization

5 hours ago

Transcript

Camden Property Trust reports Q4 2025 results and outlines 2026 guidance

CPT

Earnings

Guidance Update

Share Buyback

Q4 Core FFO was $193.1 million ($1.73 per share), beating the midpoint of prior guidance by $0.03 due to higher fee and asset management income.
2026 Core FFO/sh guidance is $6.60–$6.90 (midpoint $6.75), a $0.13 per share decline, reflecting a 50 bp same-store NOI decrease, ~4 cents lower fee income, and higher corporate expenses.
Marketing 11 California communities, targeting $1.5–$2 billion in proceeds: expecting ~60% reinvestment via 1031 exchanges in Sun Belt and ~$650 million for share buybacks; $400 million repurchased to date; new $600 million authorization approved.
2025 same-property revenue growth was +0.76%, with 2026 guidance at 75 bp growth and anticipated improvement in H2 due to declining supply and resilient demand.

6 hours ago

Transcript

Camden Property Trust reports Q4 2025 earnings and 2026 guidance

CPT

Earnings

Guidance Update

Share Buyback

Core FFO for Q4 2025 was $193.1 million, or $1.73 per share, $0.03 above midpoint guidance.
Full-year 2025 same-property revenue grew 0.76%, beating midpoint guidance by 1 bp; 2026 same-property revenue guidance midpoint is 0.75%.
2026 Core FFO per share is guided to $6.60–$6.90 (midpoint $6.75), down $0.13 from 2025.
Plan to sell 11 California communities for $1.5 billion–$2 billion, reinvest ~60% via 1031 exchanges into Sun Belt markets, and allocate ~$650 million to share repurchases (already $400 million executed; new $600 million authorization).
2026 same-store net operating income is expected to decline by 50 bps, with revenue growth of 75 bps and expense growth of 3%.

6 hours ago

Transcript

Camden Property Trust reports Q4 2025 results

CPT

Earnings

Guidance Update

New Projects/Investments

4Q25 Core FFO per share of $1.73 vs guidance midpoint of $1.70, boosted by higher nonrecurring fee and asset management income.
2026 Core FFO per share guidance midpoint of $6.75, down 13¢ from 2025’s $6.88, driven by lower fee income, higher corporate overhead, and same-store NOI headwinds.
In 4Q25, disposed of 3 communities for $201 M and acquired an Orlando community for $85 M; full-year 2025 comprised 7 disposals ($375 M) and 4 acquisitions ($423 M).
Proposed mid-year sale of 11 California communities valued at $1.5 B–$2.0 B, with ~~60% of proceeds for 1031 exchanges (~~$1.1 B of acquisitions) and ~~40% for share repurchases (~~$650 M).
2026 same-store revenue growth expected at 0.75%, expenses up 3.0%, leading to a 0.5% decline in same-store NOI.

7 hours ago

Presentation

Camden Property Trust reports Q4 2025 results

CPT

Earnings

Dividends

Guidance Update

Q4 2025 property revenues were $390.8 million, adjusted EBITDAre was $232.2 million, and net income attributable to common shareholders was $156.0 million ($1.44 per diluted share). Funds from operations totaled $189.5 million ($1.73 per share) and Core FFO was $193.1 million ($1.76 per share).
Same property revenues grew 0.5% year-over-year, net operating income was flat, and occupancy stood at 95.2% as of December 31, 2025.
The Board declared a Q1 2026 dividend of $1.06 per share, payable April 17, 2026, to shareholders of record March 31, 2026.
2026 outlook: expected FFO per share of $6.46–$6.76, Core FFO per share of $6.60–$6.90, and net operating income growth of –2.5% to 1.5%.

1 day ago

Presentation

Camden Property Trust announces Q4 2025 operating results

CPT

Earnings

Guidance Update

Dividends

EPS of $1.44 for 4Q25 and $3.54 for FY2025, compared to $0.37 and $1.50 a year earlier; FFO per diluted share of $1.73 in 4Q25 and $6.77 for FY2025; Core AFFO per share of $1.46 in 4Q25 and $5.90 for FY2025.
Same-property revenue grew 0.5% year-over-year in 4Q25 with same-property NOI flat at 0.0%, and portfolio occupancy at 95.2% as of December 31, 2025.
2026 guidance updated to EPS of $0.40–$0.70, FFO of $6.46–$6.76, and Core FFO of $6.60–$6.90 per diluted share.
Declared $1.06 dividend for Q1 2026 payable April 17, 2026, and authorized a new $600 million share repurchase program (full amount remaining).

1 day ago

8-K

Camden reports Q3 2025 operating results

CPT

Earnings

Share Buyback

Same-store revenue growth of 0.8% in Q3 and 0.9% year-to-date; average occupancy at 95.5%, flat year-over-year.
Effective rental rates: new leases down 2.5%, renewals up 3.5%, yielding 0.6% blended rate growth.
Transaction market remains healthy with ample debt and equity; Class A cap rates at 4.5–5% and Class B at 5–5.5%.
New supply in Camden’s markets projected to decline from 190,000 units in 2025 to 150,000 in 2026 and 110,000 in 2027.
Capital allocation: intends to lean into share buybacks at approximately a 30% discount to NAV, funded by asset dispositions without raising leverage.

Nov 7, 2025, 4:00 PM

Transcript

Camden Property Trust raises 2025 Core FFO guidance and confirms Q3 2025 performance

CPT

Earnings

Guidance Update

New Projects/Investments

Raised 2025 full-year Core FFO guidance from $6.75 to $6.81 per share
Completed three acquisitions totaling $338 million and four dispositions totaling $174 million in 2025 to date
Maintained strong liquidity with $0.7 billion available under its unsecured credit facility, 91.2% unsecured debt and a 4.1% weighted average interest rate
Reported 95.5% same-property occupancy in Q3 2025, in line with expectations

Nov 7, 2025, 4:00 PM

Presentation

Camden Property Trust reports Q3 2025 earnings results

CPT

Earnings

Guidance Update

Share Buyback

3Q25 core FFO per share was $1.70, beating the $1.69 guidance midpoint by 1¢, driven by higher fee and asset management income and lower interest expense.
Disposed of 2 Houston and 1 Dallas communities for $114 million at an average AFFO yield of ~5%; used proceeds to repurchase ~$50 million of shares at an average price of $107.33 (6.4% FFO yield).
Updated 2025 guidance: core FFO per share midpoint raised to $6.85 from $6.81; same-store revenue growth lowered to 0.75% (from 1.0%) and expense growth to 1.75% (from 2.5%).
Strong balance sheet with net debt/EBITDA at 4.2×, no significant debt maturities until 4Q26 and no dilutive maturities until 2027.

Nov 7, 2025, 4:00 PM

Presentation

Camden Property Trust announces Q3 2025 operating results

CPT

Earnings

Guidance Update

Share Buyback

Q3 2025 EPS of $1.00 (vs. $(0.04) in Q3 2024) and FFO of $1.67; Core FFO per diluted share was $1.70.
Same-property revenues grew 0.8% year-over-year with flat NOI; occupancy remained at 95.5%.
Raised 2025 Core FFO guidance midpoint to $6.85 (from $6.81) and forecast Q4 Core FFO of $1.71 – $1.75 per share.
Disposed of 626 homes for ~$113.5 million, recognizing an $85.6 million gain; repurchased $50 million of common shares; quarter-end liquidity was $796.3 million.
Completed lease-up at Camden Durham and construction at Camden Village District; ongoing development of 1,162 homes with an estimated cost of $501 million.

Nov 6, 2025, 9:32 PM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for CAMDEN PROPERTY TRUST.

Q4 2025

Feb 6, 2026

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Q3 2025

Nov 7, 2025

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Q2 2025

Aug 1, 2025

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CAMDEN PROPERTY TRUST (CPT)

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