Camden Property Trust (NYSE:CPT) Releases Q2 2024 Earnings Guidance

Camden Property Trust (NYSE:CPT) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 1.650-1.690 for the period, compared to the consensus estimate of 1.670. The company issued revenue guidance of -. Camden Property Trust also updated its FY 2024 guidance to 6.620-6.860 EPS.

Camden Property Trust Stock Up 0.9 %

Shares of NYSE:CPT traded up $0.90 during trading hours on Monday, hitting $105.98. The company’s stock had a trading volume of 1,433,052 shares, compared to its average volume of 1,114,279. Camden Property Trust has a 52 week low of $82.81 and a 52 week high of $114.04. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.43 and a quick ratio of 0.88. The company has a market capitalization of $11.54 billion, a price-to-earnings ratio of 25.98, a P/E/G ratio of 3.94 and a beta of 0.82. The firm’s fifty day moving average price is $98.16 and its 200 day moving average price is $95.40.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings data on Friday, February 2nd. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.31. The firm had revenue of $387.59 million for the quarter, compared to the consensus estimate of $387.33 million. Camden Property Trust had a net margin of 28.78% and a return on equity of 8.92%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.74 EPS. As a group, research analysts expect that Camden Property Trust will post 6.72 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CPT shares. Barclays cut shares of Camden Property Trust from an overweight rating to an equal weight rating and decreased their target price for the company from $138.00 to $100.00 in a research note on Tuesday, February 20th. The Goldman Sachs Group started coverage on shares of Camden Property Trust in a report on Thursday, February 22nd. They issued a buy rating and a $112.00 price objective for the company. Truist Financial increased their target price on shares of Camden Property Trust from $113.00 to $114.00 and gave the stock a buy rating in a research note on Tuesday, April 9th. Mizuho increased their price target on shares of Camden Property Trust from $99.00 to $111.00 and gave the stock a buy rating in a research report on Monday. Finally, Royal Bank of Canada increased their price target on shares of Camden Property Trust from $107.00 to $110.00 and gave the stock an outperform rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $107.06.

About Camden Property Trust

Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 172 properties containing 58,634 apartment homes across the United States.