Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
STEWART H MALCOLM
  2. Issuer Name and Ticker or Trading Symbol
CAMDEN PROPERTY TRUST [(CPT)]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Executive Vice President
(Last)
(First)
(Middle)
C/O CAMDEN PROPERTY TRUST, 3 GREENWAY PLAZASTE 1300
3. Date of Earliest Transaction (Month/Day/Year)
01/10/2006
(Street)

HOUSTON, TX 77046
4. If Amendment, Date Original Filed(Month/Day/Year)
01/10/2006
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (Right to Purchase) $ 62.32 01/10/2006   A   7,401   02/10/2006 02/15/2012 Common Shares of Beneficial Interest 7,401 (1) $ 0 223,590 D  
Employee Stock Option (Right to Purchase) $ 62.32 01/10/2006   A   4,209   02/10/2006 02/15/2013 Common Shares of Beneficial Interest 4,209 (2) $ 0 227,799 D  
Employee Stock Option (Right to Purchase) $ 62.32 01/10/2006   A   3,442   02/10/2006 01/29/2014 Common Shares of Beneficial Interest 3,442 (3) $ 0 231,241 (3) D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
STEWART H MALCOLM
C/O CAMDEN PROPERTY TRUST
3 GREENWAY PLAZASTE 1300
HOUSTON, TX 77046
      Executive Vice President  

Signatures

 /s/ H. Malcolm Stewart   01/30/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) On January 12, 2006, the reporting person filed a Form 4 reporting the acquisition of 13,333 shares; however, the reporting person acquired only 7,401 shares.
(2) On January 12, 2006, the reporting person filed a Form 4 reporting the acquisition of 8,333 shares; however, the reporting person acquired only 4,209 shares.
(3) On January 12, 2006, the reporting person filed a Form 4 reporting the acquisition of 5,000 shares; however, the reporting person acquired only 3,442 shares. As of January 12, 2006, the reporting person owned 231,241 derivative securities.

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