Camden Property Trust (CPT), a real estate investment trust specializing in multifamily apartment communities, reported its financial results for the second quarter of 2025, beating Wall Street estimates on both revenue and earnings per share. The announcement follows a period of steady operational and strategic activity, including new acquisitions and property sales across key U.S. markets.

According to the latest analyst consensus, Camden delivered second-quarter revenue of $396.5 million, slightly outpacing the consensus estimate of $394.34 million. This figure reflects continued growth from $377.4 million in the previous year’s same quarter. Earnings per share (EPS) for the quarter climbed to $0.74, significantly higher than the consensus forecast of $0.32 per share. This 131.25% earnings surprise was largely attributed to a $0.43 per share benefit from the sale of an operating property in Houston, Texas.

Funds from Operations (FFO)—a key performance metric for REITs—stood at $1.67 per share, in line with results from the prior year, while core FFO (adjusted for non-recurring items) rose slightly to $1.70 per share from $1.69 last year. The company noted a 1.0% increase in same-property revenues to $377.4 million and a 2.4% rise in same-property expenses to $136.4 million, leading to a marginal 0.2% increase in same-property Net Operating Income (NOI) to $241.0 million. These operational highlights were corroborated by GuruFocus and Zacks.

Occupancy rates improved to 95.6%, up from 95.3% in the previous year, underscoring the company’s effective property management and enduring market demand. Despite a 2.1% decline in effective new lease rates, effective renewal rates increased by 3.7%. The blended lease rate rose by 0.7%, reflecting a balanced approach between attracting new tenants and retaining existing ones.

During the quarter, Camden expanded its property portfolio with the acquisition of a 360-unit community in Tampa, Florida for $138.7 million, while divesting a 337-unit community in Houston, Texas for $60.0 million, generating a $47.3 million gain on the sale. Also notable is Camden’s ongoing investment in development projects: the company currently has four communities under development totaling 1,531 units, with a combined expected cost of $639 million.

Camden maintained a strong liquidity position at quarter’s end, with $717.5 million in total liquidity—comprised of $33.1 million in cash and cash equivalents, and $684.4 million in available lines under its unsecured credit facility and commercial paper program. The company’s net debt-to-annualized adjusted EBITDAre ratio was 4.2 times, slightly above the 3.9 times recorded a year earlier.

Looking forward, management raised full-year 2025 core FFO per share guidance to a range of $6.76 to $6.86, up from the prior range of $6.63 to $6.93, indicating increased confidence in the portfolio’s performance. Q3 guidance for core FFO per share was set between $1.67 and $1.71.

As of August 1, 2025, Camden’s shares traded at $106.95 on U.S. equity markets, down $2.21 or 0.02% from the previous closing price, with intraday highs and lows at $110.39 and $106.50, respectively. The trading volume for the day reached 2,037,602 shares.

More information is available via the company’s official announcements, Yahoo Finance, Investing.com, and GuruFocus.