Camden Property Trust

CPT

Market cap $11.2B

Camden Property Trust faces headwinds from falling rents and weak Sun Belt demand, but maintains resilient performance and disciplined expense management. CPT delivered solid Q3 results, with FFO in line, modest revenue growth, and a strong balance sheet supporting buybacks and a 4% dividend yield. While near-term rental growth remains sluggish, CPT's focus on renewals, low turnover, and declining supply position it for eventual rent recovery.

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Camden Property Trust ( CPT ) Q3 2025 Earnings Call November 7, 2025 11:00 AM EST Company Participants Kimberly Callahan - Senior Vice President of Investor Relations Richard Campo - Chairman of the Board of Trust Managers & CEO D Keith Oden Alexander Jessett - President, CFO & Assistant Secretary Stanley Jones Laurie Baker - Executive VP & COO Conference Call Participants Eric Wolfe - Citigroup Inc., Research Division James Feldman - Wells Fargo Securities, LLC, Research Division Adam Kramer - Morgan Stanley, Research Division Austin Wurschmidt - KeyBanc Capital Markets Inc., Research Division Steve Sakwa - Evercore ISI Institutional Equities, Research Division Michael Goldsmith - UBS Investment Bank, Research Division Jana Galan - BofA Securities, Research Division Richard Anderson - Cantor Fitzgerald & Co., Research Division Alexander Goldfarb - Piper Sandler & Co., Research Division Wesley Golladay - Robert W. Baird & Co. Incorporated, Research Division Richard Hightower - Barclays Bank PLC, Research Division John Kim - BMO Capital Markets Equity Research Linda Yu Tsai - Jefferies LLC, Research Division Michael Lewis - Truist Securities, Inc., Research Division Omotayo Okusanya - Deutsche Bank AG, Research Division Julien Blouin - Goldman Sachs Group, Inc., Research Division Alex Kim - Zelman & Associates LLC Presentation Kimberly Callahan Senior Vice President of Investor Relations Good morning, and welcome to Camden Property Trust Third Quarter 2025 Earnings Conference Call.

CPT's Q3 FFO beat is a result of higher lease rates and same-property revenues, though rising interest costs trim growth.

Although the revenue and EPS for Camden (CPT) give a sense of how its business performed in the quarter ended September 2025, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Camden (CPT) came out with quarterly funds from operations (FFO) of $1.7 per share, beating the Zacks Consensus Estimate of $1.69 per share. This compares to FFO of $1.71 per share a year ago.

HOUSTON--(BUSINESS WIRE)--Camden Property Trust (NYSE:CPT) (the "Company") announced today operating results for the three and nine months ended September 30, 2025. Net Income Attributable to Common Shareholders (“EPS”), Funds from Operations (“FFO”), Core Funds from Operations ("Core FFO"), and Core Adjusted Funds from Operations (“Core AFFO”) for the three and nine months ended September 30, 2025 are detailed below. A reconciliation of EPS to FFO, Core FFO, and Core AFFO is included in the fi.

CPT's Q3 results may show higher revenues but a dip in FFO as new supply pressures rental growth.

Besides Wall Street's top-and-bottom-line estimates for Camden (CPT), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended September 2025.