Camden Property Trust (NYSE:CPT) posted its earnings results on Thursday. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.15 by ($0.98), MarketWatch Earnings reports. The company had revenue of $250.68 million during the quarter, compared to the consensus estimate of $250.73 million. Camden Property Trust had a net margin of 19.06% and a return on equity of 5.39%. Camden Property Trust updated its Q3 2020
After-Hours guidance to 1.14-1.20 EPS and its Q3 guidance to $1.14-1.20 EPS.
Shares of NYSE CPT opened at $90.81 on Friday. The stock has a market cap of $8.84 billion, a PE ratio of 45.63, a price-to-earnings-growth ratio of 4.14 and a beta of 0.78. Camden Property Trust has a fifty-two week low of $62.48 and a fifty-two week high of $120.73. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.25 and a current ratio of 0.25. The stock has a fifty day moving average of $91.43 and a 200-day moving average of $95.27.
The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Tuesday, June 30th were given a $0.83 dividend. The ex-dividend date was Monday, June 29th. This is a boost from Camden Property Trust’s previous quarterly dividend of $0.80. This represents a $3.32 annualized dividend and a dividend yield of 3.66%. Camden Property Trust’s payout ratio is 65.87%.
CPT has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Camden Property Trust from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 21st. TheStreet downgraded Camden Property Trust from a “b-” rating to a “c+” rating in a research report on Thursday, May 7th. Citigroup decreased their price target on Camden Property Trust from $115.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Stifel Nicolaus increased their price target on Camden Property Trust from $91.00 to $96.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Finally, BMO Capital Markets downgraded Camden Property Trust from an “outperform” rating to a “market perform” rating in a research report on Sunday, April 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $108.53.
About Camden Property Trust
Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 161 properties containing 55,160 apartment homes across the United States.
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