NYSE$CPT

Camden Property Trust · Q4 2025 earnings

Q4 2025 earnings · · After market close · Investor relations

Briefing

Camden Property Trust reported Q4 2025 property revenue of $390.8M with EPS of $1.44 and Core FFO of $1.76 per share.

Fourth quarter property revenue was $390.8 million with same-property revenue up 0.5% and NOI flat year over year. EPS was $1.44 and Core FFO $1.76 per share. Camden repurchased 2.1 million shares for $220.6 million in the quarter and authorized a new $600 million buyback program.

  • Q4 property revenue $390.8M; same-store revenue +0.5%.
  • EPS $1.44; Core FFO $1.76/sh.
  • Occupancy 95.2%; effective blended lease rates (1.6)% YoY.
  • 2026 Core FFO guide midpoint $6.61/sh; marketing 11 California communities for sale.

Headline financials

Total Revenue

$391M

Previous: $386M+1.2%
EPS (adj)

$1.76

Previous: $1.68+4.8%
Occupancy

95.2%

Previous: 95.3%-0.1%
Bad Debt

0.7%

Previous: 0.7%+0.0%
Effective New Lease Rates

-5.3%

Previous: -4.7%-12.8%
Effective Renewal Rates

2.8%

Previous: 3.3%-15.2%
Effective Blended Lease Rates

-1.6%

Previous: -1.1%-45.5%
Annualized Gross Turnover

40.0%

Previous: 41.0%-2.4%
Annualized Net Turnover

30.0%

Previous: 31.0%-3.2%
Same Property Revenue Growth

0.5%

No prior period
Same Property Expenses Growth

1.5%

No prior period
Same Property NOI Growth

0.0%

No prior period
Net Income

$150M

Previous: $42.6M+252.0%
Operating Income

$159M

Previous: $248M-35.8%

Revenue & EPS history

Camden · Revenue · Quarterly

$391M

Q4 2025+1.2%vs Q4 2024
Beat estimate in 3 of 15 quarters(20%)
ActualEstimate

Forward guidance

Camden guided 2026 Core FFO of $6.46–$6.76 per share (midpoint $6.61) with same-property revenue growth of (0.25)% to 0.75% and expense growth of 2.25%–2.75%.

Tailwinds

  • New $600M share repurchase authorization after $270.6M bought in 2025.
  • Same-store NOI flat in Q4 with occupancy 95.2%.
  • Development pipeline and Orlando acquisition support portfolio refresh.
  • Q1 2026 Core FFO guide $1.61–$1.65 per share.

Headwinds

  • Effective new lease rates (5.3)% and blended rates (1.6)% remain negative.
  • Marketing 11 California communities for sale signals geographic pruning.
  • Flat same-store revenue limits near-term NOI expansion.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

+0.7%

Avg return

Earnings day

+0.7%

Avg return

5 days after

+1.4%

Avg return

30 days after

63%

43 / 68 earnings

Positive

+6.7%

Q2 2024

Best reaction

-8.2%

Q3 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.6%-0.2%+1.4%
Q4 2025+0.1%+3.9%-0.0%
Q3 2025+2.5%+3.4%+4.6%
Q1 2025+5.1%+3.6%+2.3%
Q4 2024+1.2%+0.6%+3.2%
Q3 2024-3.1%+0.5%+7.2%
Q2 2024+6.7%+5.8%+13.0%
Q1 2024+6.6%+7.5%+4.2%
Q4 2023+2.9%+1.6%+2.1%
Q3 2023-8.2%-7.2%-3.0%
Q2 2023+1.3%+1.3%-0.4%
Q1 2023+5.8%+5.1%-0.1%
Q4 2022-1.6%-0.1%-6.2%
Q3 2022-0.1%+0.3%+2.7%
Q2 2022+3.9%+0.9%-0.8%
Q1 2022-3.0%-5.6%-10.3%
Q4 2021+1.9%-0.6%+5.7%
Q3 2021+2.3%+1.3%+4.7%
Q2 2021+2.3%+1.6%+0.5%
Q1 2021+1.4%+0.5%+5.6%
Q4 2020-1.9%-2.5%-1.0%
Q3 2020+4.6%+11.6%+10.8%
Q2 2020-0.5%-2.1%-0.2%
Q1 2020+5.2%+0.1%+16.1%
Q4 2019+1.8%+1.6%-4.0%
Q3 2019-0.2%-2.2%-2.7%
Q2 2019-1.1%-0.9%-0.6%
Q1 2019+0.4%-1.3%+3.0%
Q4 2018+0.1%+1.5%+1.1%
Q3 2018-3.1%-0.5%+0.2%
Q2 2018+0.6%+0.2%+1.9%
Q1 2018+0.6%+1.0%+3.9%
Q4 2017-3.7%-5.6%-9.3%
Q3 2017+0.0%+0.0%+2.9%
Q2 2017+1.2%+1.0%+2.2%
Q1 2017+0.7%-0.3%+3.5%
Q4 2016-2.7%-2.7%-6.4%
Q3 2016-0.3%+1.1%-1.6%
Q2 2016+3.7%+1.7%-0.2%
Q1 2016-1.6%
Q4 2015+3.6%
Q3 2015-3.8%
Q2 2015+1.3%
Q1 2015-1.7%
Q4 2014-1.7%
Q3 2014+1.9%
Q2 2014-1.9%
Q1 2014+1.9%
Q4 2013+2.4%
Q3 2013-5.2%
Q2 2013-0.1%
Q1 2013-0.9%
Q4 2012-1.8%
Q3 2012+2.4%
Q2 2012-0.5%
Q1 2012+0.2%
Q4 2011-1.9%
Q3 2011+1.4%
Q2 2011+0.0%
Q4 2010+0.0%
Q1 2010+0.9%
Q1 2011+1.5%
Q4 2008+2.6%
Q3 2009+0.5%
Q3 2010+0.5%
Q4 2009+4.4%
Q2 2010+4.4%
Q2 2009+4.4%

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