Camden Property Trust (NYSE:CPT) Issues Q4 Earnings Guidance

Camden Property Trust (NYSE:CPT) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.68-1.72 for the period, compared to the consensus estimate of $1.72. Camden Property Trust also updated its FY 2024 guidance to 6.790-6.830 EPS.

Camden Property Trust Price Performance

Shares of NYSE:CPT traded down $2.06 on Friday, reaching $113.73. 2,430,518 shares of the company were exchanged, compared to its average volume of 834,102. The company has a 50-day moving average of $122.03 and a 200-day moving average of $113.36. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.72. The firm has a market cap of $12.13 billion, a price-to-earnings ratio of 35.99, a price-to-earnings-growth ratio of 4.34 and a beta of 0.91. Camden Property Trust has a 1-year low of $85.30 and a 1-year high of $127.69.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.27). The company had revenue of $387.15 million for the quarter, compared to analyst estimates of $384.76 million. Camden Property Trust had a net margin of 22.32% and a return on equity of 6.91%. During the same quarter in the previous year, the business posted $1.70 earnings per share. Equities analysts forecast that Camden Property Trust will post 6.78 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 Thursday, October 17th. Investors of record on Monday, September 30th were given a $1.03 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $4.12 annualized dividend and a dividend yield of 3.62%. Camden Property Trust’s dividend payout ratio is presently 130.38%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CPT. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Camden Property Trust from $90.00 to $115.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Truist Financial increased their target price on Camden Property Trust from $122.00 to $133.00 and gave the company a “buy” rating in a report on Monday, August 26th. Royal Bank of Canada cut Camden Property Trust from an “outperform” rating to a “sector perform” rating and set a $122.00 price target for the company. in a report on Monday, September 9th. BNP Paribas started coverage on Camden Property Trust in a research report on Wednesday, September 11th. They set a “neutral” rating and a $129.00 price objective for the company. Finally, Wedbush upped their target price on shares of Camden Property Trust from $118.00 to $131.00 and gave the company an “outperform” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Camden Property Trust presently has a consensus rating of “Hold” and an average target price of $121.76.

Camden Property Trust Company Profile

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 58,250 apartment homes across the United States.