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Camden Property Trust (CPT) investor relations material
Camden Property Trust Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q4 2025 core FFO per share was $1.73–$1.76, exceeding guidance midpoint by $0.03, driven by higher fee and asset management income.
Full-year 2025 net income was $384.5M ($3.54 per share), up from $163.3M ($1.50 per share) in 2024, due to gains on property sales and lower impairment charges.
Sun Belt markets are expected to outperform, with California properties being marketed for sale to redeploy capital.
Residents remain financially healthy, with rent at 19% of income and apartment living more affordable than home ownership.
New supply peaked in 2024 and is declining, setting up below-average new deliveries in 2026 and 2027.
Financial highlights
Q4 2025 property revenues were $390.8M, up 1.2% year-over-year; full-year revenues reached $1.57B, up 1.9%.
Q4 2025 Core FFO per share of $1.73–$1.76 exceeded guidance midpoint by $0.03.
Same-property revenue growth for 2025 was 76 basis points, slightly above guidance.
New lease rates in Q4 2025 were down 5.3%, renewals up 2.8%, for a blended rate of -1.6%.
Dividend payout ratio (FFO) for Q4 2025 was 60.7%.
Outlook and guidance
2026 Core FFO per share guidance is $6.60–$6.90, midpoint $6.75, a $0.13 decrease from 2025, reflecting lower same property NOI growth and higher overhead.
Same-store NOI expected to be -0.5%, with revenue growth of 0.75% and expense growth of 3% in 2026.
Market rent growth projected at 2% for 2026, with most growth in the second half.
No net accretion or dilution expected from California asset sale and redeployment in 2026.
2026 acquisition volume projected at $1.0–$1.2B; disposition volume at $1.6–$2.0B.
- TimeTickerHeadlineOpen
- 6 FebMGY
Record production, strong free cash flow, and disciplined capital returns defined 2025. - 6 FebQNST
Record Q2 revenue, $50.2M net income, HomeBuddy acquisition, and AI drive growth. - 6 FebOPGN
Shareholders will vote on seven key proposals, including a new equity plan and company name change. - 6 FebCDP
2025 FFO/share up 5.8% with strong leasing; 2026 outlook positive amid record defense spending. - 6 FebVTR
2025 saw double-digit SHOP NOI and FFO growth, a raised dividend, and $2.5B in investments. - 6 FebREG
2025 delivered record NOI and FFO growth, with 2026 guidance projecting further gains. - 6 FebMNTS
All stock issuance proposals passed except the share increase, which was not approved. - 6 FebCPT
2025 beat guidance; 2026 sees lower FFO, Sun Belt focus, and major asset sales with share repurchases. - 6 FebKOG
Record growth, robust backlog, and a NOK 5.70 dividend proposal drive future expansion. - 6 FebTSBK
Net income rose 19.8% to $8.22M, with higher margins, strong capital, and a dividend increase.
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