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 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.

Analysts Set New Price Targets

A number of research firms have weighed in on CPT. UBS Group increased their target price on shares of Camden Property Trust from $109.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Royal Bank of Canada downgraded shares of Camden Property Trust from an “outperform” rating to a “sector perform” rating and set a $122.00 target price for the company. in a research report on Monday, September 9th. Piper Sandler increased their target price on shares of Camden Property Trust from $110.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. increased their target price on shares of Camden Property Trust from $112.00 to $129.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Finally, The Goldman Sachs Group initiated coverage on shares of Camden Property Trust in a research report on Wednesday, September 4th. They set a “neutral” rating and a $139.00 target price for the company. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Camden Property Trust presently has a consensus rating of “Hold” and an average target price of $121.76.

Camden Property Trust Stock Down 1.8 %

Shares of CPT traded down $2.06 during trading hours on Friday, reaching $113.73. The stock had a trading volume of 2,430,518 shares, compared to its average volume of 834,102. Camden Property Trust has a 12 month low of $85.30 and a 12 month high of $127.69. The firm has a 50-day simple moving average of $122.03 and a 200 day simple 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 company has a market capitalization of $12.13 billion, a price-to-earnings ratio of 35.99, a P/E/G ratio of 4.34 and a beta of 0.91.

Camden Property Trust (NYSE:CPT) last issued its 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). Camden Property Trust had a return on equity of 6.91% and a net margin of 22.32%. The firm had revenue of $387.15 million during the quarter, compared to the consensus estimate of $384.76 million. During the same quarter in the prior year, the business earned $1.70 earnings per share. Equities research analysts predict that Camden Property Trust will post 6.78 earnings per share for the current fiscal year.

Camden Property Trust Announces Dividend

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

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.