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

Camden Property Trust (NYSE:CPT) issued an update on its FY24 earnings guidance on Thursday morning. 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 Q4 guidance to $1.68-1.72 EPS.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CPT. Jefferies Financial Group started coverage on Camden Property Trust in a research note on Friday, October 11th. They issued a “hold” rating and a $123.00 target price on the stock. Wedbush boosted 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. Piper Sandler raised their price objective 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. BNP Paribas assumed coverage on shares of Camden Property Trust in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $129.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Camden Property Trust from $90.00 to $115.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Fifteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $121.76.

Camden Property Trust Trading Down 1.3 %

Shares of CPT traded down $1.57 during mid-day trading on Thursday, hitting $115.79. 1,843,040 shares of the company’s stock traded hands, compared to its average volume of 985,554. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $12.35 billion, a P/E ratio of 31.82, a PEG ratio of 4.51 and a beta of 0.90. The business’s 50-day moving average price is $122.31 and its 200-day moving average price is $113.10. Camden Property Trust has a 1 year low of $82.89 and a 1 year high of $127.69.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings data 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 7.98% and a net margin of 25.64%. The firm had revenue of $387.15 million during the quarter, compared to the consensus estimate of $384.76 million. During the same quarter last year, the company posted $1.70 EPS. As a group, sell-side analysts forecast that Camden Property Trust will post 6.77 EPS 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. Investors of record on Monday, September 30th were given a dividend of $1.03 per share. The ex-dividend date was Monday, September 30th. This represents a $4.12 dividend on an annualized basis and a yield of 3.56%. Camden Property Trust’s dividend payout ratio (DPR) is currently 113.19%.

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.