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

Camden Property Trust (NYSE:CPT) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.68-1.72 for the period, compared to the consensus earnings per share 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 brokerages have recently issued reports on CPT. Wedbush boosted their target price on Camden Property Trust from $118.00 to $131.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Bank of America upgraded Camden Property Trust from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $111.00 to $147.00 in a report on Monday, August 12th. Wells Fargo & Company upgraded shares of Camden Property Trust from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $104.00 to $127.00 in a report on Monday, August 26th. JPMorgan Chase & Co. boosted their price target on shares of Camden Property Trust from $112.00 to $129.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Finally, Piper Sandler upped their price target 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. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $121.76.

Camden Property Trust Stock Down 1.8 %

NYSE CPT traded down $2.06 on Friday, reaching $113.73. The stock had a trading volume of 2,430,518 shares, compared to its average volume of 834,102. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.72. Camden Property Trust has a 1 year low of $85.30 and a 1 year high of $127.69. The business has a 50 day moving average price of $122.03 and a 200 day moving average price of $113.36. 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 announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($1.27). Camden Property Trust had a net margin of 22.32% and a return on equity of 6.91%. The firm had revenue of $387.15 million for the quarter, compared to analyst estimates of $384.76 million. During the same quarter in the prior year, the firm earned $1.70 earnings per share. On average, analysts forecast that Camden Property Trust will post 6.78 EPS for the current fiscal year.

Camden Property Trust Announces Dividend

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