Camden Property Trust (NYSE:CPT) Issues FY24 Earnings Guidance

Camden Property Trust (NYSE:CPT) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $6.79-6.83 for the period, compared to the consensus EPS estimate of $6.81. Camden Property Trust also updated its FY 2024 guidance to 6.790-6.830 EPS.

Analyst Ratings Changes

A number of brokerages have recently commented on CPT. BNP Paribas began coverage on shares of Camden Property Trust in a report on Wednesday, September 11th. They set a “neutral” rating and a $129.00 target price on the stock. Wedbush upped their price target on shares of Camden Property Trust from $118.00 to $131.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Jefferies Financial Group began coverage on shares of Camden Property Trust in a research note on Friday, October 11th. They issued a “hold” rating and a $123.00 price target on the stock. The Goldman Sachs Group began coverage on shares of Camden Property Trust in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $139.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price target on shares of Camden Property Trust from $112.00 to $129.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Camden Property Trust currently has a consensus rating of “Hold” and an average price target of $121.76.

Camden Property Trust Stock Performance

Shares of Camden Property Trust stock traded down $2.06 on Friday, hitting $113.73. 2,430,518 shares of the company’s stock were exchanged, compared to its average volume of 834,102. The company has a 50-day simple moving average of $122.03 and a 200-day simple moving average of $113.36. The stock has a market capitalization of $12.13 billion, a PE ratio of 35.99, a PEG 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. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.37 and a current ratio of 0.37.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the consensus estimate 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 6.91% and a net margin of 22.32%. During the same quarter in the prior year, the business earned $1.70 EPS. As a group, equities analysts anticipate that Camden Property Trust will post 6.78 EPS for the current year.

Camden Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Monday, September 30th were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Monday, September 30th. Camden Property Trust’s dividend payout ratio (DPR) is 130.38%.

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 58,250 apartment homes across the United States.