Camden Property Trust : Third Quarter 2025 Earnings Presentation

About this update from Camden Property Trust

‌Camden Property Trust 3Q25 Earnings Call ‌DISPOSITIONS 2 Houston communities 1 Dallas community $114M total Average age 24 years old Sold at average AFFO yield of ~ 5% Proceeds used in part to repurchase ~$50M of shares Average purchase price of $107.33 = 6.4% FFO yield and 6.2% cap rate ‌DEVELOPMENT CAMDEN DURHAM Durham, North Carolina 420 UNITS $146M 96% OCCUPIED CAMDEN VILLAGE DISTRICT Raleigh, North Carolina 369 UNITS $139M 50% LEASED CAMDEN LONG MEADOW FARMS Richmond, Texas 188 UNITS $73M 89% LEASED ‌2025 ACQUISITIONS AND DISPOSITIONS Revised Midpoint of Guidance Range Prior Midpoint of Guidance Range 4Q25 Guidance $750M $425M $87M ACQUISITIONS $750M $450M $276M DISPOSITIONS ‌3Q25 CORE FFO PER SHARE $1.70 1¢ per share from $1.69 3Q25 ACTUAL RESULTS 3Q25 GUIDANCE MIDPOINT 1.0¢ HIGHER FEE AND ASSET MANAGEMENT INCOME AND LOWER INTEREST EXPENSE ‌2025 EXPECTED SAME STORE GROWTH Midpoint of Guidance Range REVENUES Prior Guidance Updated Guidance 2.5% 1.75% 1.0% 0.75% EXPENSES 0.25% 0.25% NOI ‌2025 EXPECTED CORE FFO PER SHARE Midpoint of Guidance Range $6.85 4¢ per share from $6.81 2025 UPDATED GUIDANCE MIDPOINT 2025 PRIOR GUIDANCE MIDPOINT 4.0¢ PRIMARILY DECREASED TRANSACTION ACTIVITY AND LOWER FLOATING RATE INTEREST EXPENSE ‌4Q25 EXPECTED CORE FFO PER SHARE Midpoint of Guidance Range $1.70 3¢ per share from $1.73 3Q25 ACTUAL RESULTS 4Q25 GUIDANCE MIDPOINT 3.0¢ SEASONAL DECREASE IN PROPERTY OPERATING EXPENSE, LOWER TAXES AND LOWER INTEREST EXPENSE OFFSET BY IMPACT OF 4Q NET DISPOSITIONS ‌BALANCE SHEET 3Q25 NET DEBT TO EBITDA = 4.2X NO SIGNFICANT DEBT MATURITIES UNTIL 4Q26 NO DILUTIVE DEBT MATURITIES UNTIL 2027 Earnings Call ‌Camden Property Trust 3Q25

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