Camden Property Trust (NYSE:CPT) Updates FY 2024 Earnings Guidance

Camden Property Trust (NYSE:CPT) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 6.740-6.840 for the period, compared to the consensus earnings per share estimate of 6.740. The company issued revenue guidance of -. Camden Property Trust also updated its Q3 2024 guidance to 1.660-1.700 EPS.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CPT. Truist Financial lifted their price target on Camden Property Trust from $114.00 to $122.00 and gave the company a buy rating in a research note on Monday, June 24th. StockNews.com upgraded Camden Property Trust from a sell rating to a hold rating in a research note on Tuesday, April 30th. Wells Fargo & Company boosted their price objective on Camden Property Trust from $92.00 to $104.00 and gave the stock an underweight rating in a research note on Friday, May 31st. Wedbush boosted their price objective on Camden Property Trust from $110.00 to $118.00 and gave the stock an outperform rating in a research note on Monday, May 6th. Finally, Mizuho cut their price objective on Camden Property Trust from $111.00 to $108.00 and set a buy rating for the company in a research note on Thursday, May 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Camden Property Trust presently has a consensus rating of Hold and a consensus price target of $107.75.

Camden Property Trust Price Performance

Shares of Camden Property Trust stock traded up $3.13 on Friday, hitting $118.20. 2,342,878 shares of the company were exchanged, compared to its average volume of 835,443. Camden Property Trust has a 1-year low of $82.81 and a 1-year high of $121.29. The stock has a market capitalization of $12.59 billion, a price-to-earnings ratio of 28.97, a price-to-earnings-growth ratio of 4.50 and a beta of 0.88. The company has a 50-day moving average price of $108.92 and a 200 day moving average price of $102.17. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.71.

Camden Property Trust (NYSE:CPT) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.27). Camden Property Trust had a net margin of 25.64% and a return on equity of 7.95%. The business had revenue of $387.15 million during the quarter, compared to analyst estimates of $384.76 million. During the same quarter in the prior year, the company posted $1.70 earnings per share. As a group, sell-side analysts predict that Camden Property Trust will post 6.73 earnings per share for the current fiscal year.

Camden Property Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 17th. Investors of record on Friday, June 28th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date was Friday, June 28th. Camden Property Trust’s dividend payout ratio is presently 100.98%.

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.