CPT · 10-Q · 2026Q3 · Full report

Interest Expense Trends

CAMDEN PROPERTY TRUST · 2026-11-06 · Importance 30 · Surprise 40 · In source text

Interest expense increased $6.0 million, or 17.3%, to $41.0 million in the third quarter of 2026 and $15.7 million, or 15.0%, to $119.8 million for the first nine months versus 2025. The increase primarily reflected the February issuance of $600 million of 4.90% senior unsecured notes, the July $350 million term loan, and higher third-quarter revolving-credit borrowings. Offsetting factors included lower commercial-paper interest, more capitalized development interest, lower interest on certain variable-rate debt, and completion in June of amortization on a settled forward interest-rate swap. Interest coverage was 5.4 times for the quarter and 5.6 times for nine months, down from 6.5 times for both comparable 2025 periods.

Key facts

• The interest expense increase was primarily due to the February 2026 issuance of $600 million of 4.90% senior unsecured notes, a $350 million July 2026 term loan, and higher Q3 borrowings under the unsecured revolving credit facility. source
• Interest expense increased approximately $6.0 million in the three months and $15.7 million in the nine months ended September 30, 2026, compared with 2025. source

Impact estimates