Camden Property Trust (NYSE:CPT) Releases Q3 2020 After-Hours Earnings Guidance

Camden Property Trust (NYSE:CPT) issued an update on its third quarter 2020
After-Hours earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.14-1.20 for the period. Camden Property Trust also updated its Q3 guidance to $1.14-1.20 EPS.

Shares of CPT opened at $90.81 on Friday. Camden Property Trust has a 52-week low of $62.48 and a 52-week high of $120.73. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.71. The firm’s fifty day moving average is $91.43 and its two-hundred day moving average is $95.27. The stock has a market cap of $8.84 billion, a PE ratio of 45.63, a price-to-earnings-growth ratio of 4.14 and a beta of 0.78.

Camden Property Trust (NYSE:CPT) last announced its earnings results on Thursday, July 30th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.98). Camden Property Trust had a return on equity of 5.39% and a net margin of 19.06%. The business had revenue of $250.68 million for the quarter, compared to analyst estimates of $250.73 million. As a group, research analysts anticipate that Camden Property Trust will post 4.98 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.66%. The ex-dividend date was Monday, June 29th. This is a boost from Camden Property Trust’s previous quarterly dividend of $0.80. Camden Property Trust’s payout ratio is 65.87%.

Several equities research analysts have issued reports on CPT shares. Bank of America raised shares of Camden Property Trust from a neutral rating to a buy rating in a research note on Monday, May 18th. TheStreet lowered Camden Property Trust from a b- rating to a c+ rating in a report on Thursday, May 7th. Cfra reduced their price target on Camden Property Trust from $127.00 to $103.00 and set a buy rating on the stock in a report on Friday, May 8th. Zacks Investment Research lowered Camden Property Trust from a hold rating to a strong sell rating in a report on Tuesday, July 21st. Finally, Citigroup reduced their price target on Camden Property Trust from $115.00 to $80.00 and set a neutral rating on the stock in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of Buy and a consensus price target of $108.53.

Camden Property Trust Company Profile

Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 161 properties containing 55,160 apartment homes across the United States.

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Earnings History and Estimates for Camden Property Trust (NYSE:CPT)

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