Camden Property Trust's Board of Trust Managers declared a first quarter 2016 dividend of $0.75 per common share, which is a 7.1% increase over the company's prior quarterly dividend of $0.70 per share. The dividend is payable on April 18, 2016 to holders of record as of March 31, 2016.

The company announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported total property revenues of $229,658,000 against $216,459,000 a year ago. Income from continuing operations before income taxes was $62,340,000 against $185,299,000 for the same period a year ago. Net income attributable to common shareholders was $60,593,000 or $0.67 per diluted share against $178,498,000 or $1.98 per diluted share a year ago. Funds from operations were $109,582,000 or $1.20 per diluted share against $90,333,000 or $0.99 per diluted share for the same period a year ago. Adjusted funds from operations - diluted were $92,153,000 or $1.01 per diluted share against $71,936,000 or $0.79 per diluted share a year ago. EBITDA was $131,189,000 against $114,870,000 a year ago. Net operating income was $149,248,000 against $140,030,000 a year ago.

For the full year, the company reported total property revenues of $892,928,000 against $843,978,000 a year ago. Income from continuing operations before income taxes was $260,134,000 against $303,217,000 a year ago. Net income attributable to common shareholders was $249,315,000 or $2.76 per diluted share against $292,089,000 or $3.27 per diluted share a year ago. Funds from operations were $414,497,000 or $4.54 per diluted share against $378,043,000 or $4.18 per diluted share for the same period a year ago. Adjusted funds from operations - diluted were $350,328,000 or $3.83 per diluted share against $318,189,000 or $3.52 per diluted share a year ago. EBITDA was $504,072,000 against $470,309,000 a year ago. Net operating income was $571,212,000 against $538,670,000 a year ago.

The company provided earnings guidance for the first quarter and full year 2016. For the quarter, the company expects FFO per share - diluted to be between $1.16 and $1.20 and EPS to be between $0.41 and $0.45. The FFO midpoint of $1.18 represents a $0.02 per share decrease from the fourth quarter of 2015, which is primarily the result of a $0.02 or approximately $1.5 million decline in sequential same-store net operating income, mainly due to higher property taxes and normal seasonal expense increases, partially offset by the timing of certain insurance reimbursements and a slight increase in same property revenues due to continued improvements in rental rates.

For the full year, the company expects EPS to be between $1.71 and $1.91. The company expects 2016 FFO per diluted share to be in the range of $4.75 to $4.95 with a midpoint of $4.85, representing $0.31 per share increase over 2015 results. The major assumptions and components of this $0.31 per share increase in FFO at the midpoint of guidance range are as follows: a $0.26 per share or $23 million increase in FFO related to the performance of 47,894 unit same-store portfolio; the company expecting same-store net operating income growth of 3.5% to 5.5% driven by revenue growth of 4.1% to 5.1% and expense growth of 4.3% to 5.3%; and a $0.20 per share or $18 million increase in FFO related to net operating income from nonsame-store properties, resulting primarily from the incremental contribution from development communities in lease-up during 2015 and 2016 and 5 development communities, which stabilized in 2015.