Camden Property Trust

Company facts

Industry

Real Estate Investment Trusts

Headquarters

Houston, Texas

Most recent report

10-Q, filed Nov 6, 2026

Incorporated

Texas

Filings on record

1,001+ filings

On EDGAR

CIK 906345

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 2 of 13 sections worth reading, with 0 positive, 28 notable, and 3 negative flags.

• Financial Statements (Item 1)

  Large one-time gains and impairments, a major debt restructuring, and a settled antitrust class action with a $53M payment.
  Notable

  • Two consolidated operating partnerships are VIEs; Camden holds ~93% and 95% of their common units.
  • Weighted average amortization period for in-place leases shortened to ~6 months in 2026 from ~7 months in 2025.
  • No operating properties were classified as held for sale at Sep 2026, after 11 CA properties were sold in July.
  • Capitalized interest rose to $4.7M in Q3 2026 from $3.5M in Q3 2025, reflecting more development activity.
  • Recorded $4.9M impairment on technology investments in 9M 2026, included in other non-operating expenses.
  • Restricted cash surged to $438.6M at Sep 2026, mostly $427M held for 1031 exchanges from the CA sale.
  • New $600M share repurchase plan authorized in Feb 2026; $247.9M remained available as of filing.
  • Renewed ATM program for up to $500M in April 2026; no shares sold under it or its predecessor.
  • Acquired eight operating properties for ~$754.5M in 9M 2026, up from three for ~$337.7M in 9M 2025.
  • Acquired three parcels of land for $63.3M in 9M 2026; no land acquisitions in 9M 2025.
  • Sold 11 CA properties for ~$1.6B in July 2026, recognizing a $973M gain in Q3 2026.
  • Sold one operating property in Irving, TX for $77M in Feb 2026, recognizing a $67.9M gain.
  • Amended credit facility: $1.2B revolver extended to March 2030; new $350M term loan facility added in July 2026.
  • Outstanding letters of credit were minimal at $0.3M, leaving ~$1.2B available under the revolver.
  • Issued $600M of 4.90% senior notes due 2036 in February 2026, net proceeds ~$594M.
  • Repaid $500M of 5.85% notes due Nov 2026 in October 2026, funded by cash and commercial paper.
  • Terminated a $500M notional interest rate swap in October 2026, concurrent with the note repayment.
  • Weighted average interest rate on floating rate debt rose to 5.1% at Sep 2026 from 4.4% at Dec 2025.
  • Weighted average maturity of debt was 5.0 years at Sep 2026.
  • No cash flow hedges were outstanding at Sep 2026 or Sep 2025.
  • Amended 2018 Share Plan approved, adding ~7.3M new common shares for future grants.
  • Share-based compensation cost was $14.0M for 9M 2026, up slightly from $13.5M for 9M 2025.
  • Estimated total additional cost to complete four properties under construction was $209.3M at Sep 2026.
  • Antitrust lawsuits from DC, AZ, DOJ, and MD attorneys general remain pending; Camden intends to defend vigorously.
  • CEO and other senior executives entered new employment agreements in March 2026 with severance provisions.
  • Co-founder D. Keith Oden retired as Executive Vice Chairman in August 2026, receiving $5.3M in accrued compensation.
  • No single multifamily community comprises more than 1.5% of consolidated revenues.
  Negative

  • Paid $53M to settle antitrust class action; $26.5M paid in each of Q2 and Q3 2026.

• Management's Discussion (Item 2)

  Large California sale, $53M litigation settlement, $86M impairment, and flat same-store NOI.
  Notable

  • Interest expense rose 17.3% in Q3 2026 due to new debt and higher revolver borrowings.
  Negative

  • Same-store property NOI fell 0.2% in Q3 and 0.7% YTD 2026 due to lower rental rates.
  • Recorded $86.4M impairment on land development activities in Q3 2026; stopped two projects.

What changed: Sep 2026 vs. Jun 2026

About 11% of CPT's Sep 2026 10-Q is new information. 35 paragraphs were added, 154 changed, and 54 removed. Below are the most important lines SECSift identified.

• Item 2 79
• Item 1 72
• Item 6 6