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

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

Camden Property Trust Stock Performance

Shares of Camden Property Trust stock traded down $2.06 on Friday, reaching $113.73. 2,430,518 shares of the stock were exchanged, compared to its average volume of 834,102. The business has a 50 day moving average price of $122.03 and a two-hundred day moving average price of $113.36. The firm has a market capitalization of $12.13 billion, a price-to-earnings ratio of 35.99, a PEG ratio of 4.34 and a beta of 0.91. Camden Property Trust has a twelve month low of $85.30 and a twelve month high of $127.69. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.72.

Camden Property Trust (NYSE:CPT) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.40 EPS 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 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 firm posted $1.70 earnings per share. Analysts anticipate 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 declared a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Monday, September 30th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.62%. The ex-dividend date was Monday, September 30th. Camden Property Trust’s payout ratio is 130.38%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CPT shares. Scotiabank boosted their price objective on Camden Property Trust from $125.00 to $132.00 and gave the company a “sector perform” rating in a report on Monday, September 16th. Truist Financial raised their price objective on shares of Camden Property Trust from $122.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Bank of America raised shares of Camden Property Trust from an “underperform” rating to a “buy” rating and lifted their target price for the company from $111.00 to $147.00 in a report on Monday, August 12th. Wells Fargo & Company raised shares of Camden Property Trust from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $104.00 to $127.00 in a report on Monday, August 26th. Finally, UBS Group lifted their price objective on shares of Camden Property Trust from $109.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average 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.