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

Camden Property Trust (NYSE:CPT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 6.740-6.840 for the period, compared to the consensus 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.

Camden Property Trust Price Performance

Shares of CPT traded up $3.13 during trading hours on Friday, hitting $118.20. 2,342,878 shares of the stock were exchanged, compared to its average volume of 835,443. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.43 and a current ratio of 0.43. The stock’s 50-day moving average price is $108.92 and its two-hundred day moving average price is $102.17. The company has a market cap 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. Camden Property Trust has a 12-month low of $82.81 and a 12-month high of $121.29.

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

Camden Property Trust Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Mizuho decreased their target price on Camden Property Trust from $111.00 to $108.00 and set a buy rating on the stock in a research note on Thursday, May 30th. Royal Bank of Canada increased their price target on Camden Property Trust from $107.00 to $110.00 and gave the company an outperform rating in a research report on Monday, May 6th. JPMorgan Chase & Co. increased their price objective on Camden Property Trust from $104.00 to $112.00 and gave the company a neutral rating in a report on Monday, June 17th. Truist Financial raised their price target on Camden Property Trust from $114.00 to $122.00 and gave the stock a buy rating in a research note on Monday, June 24th. Finally, Wedbush lifted their target price on Camden Property Trust from $110.00 to $118.00 and gave the company an outperform rating in a research note on Monday, May 6th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $107.75.

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 58,634 apartment homes across the United States.