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

by · The Markets Daily

Camden Property Trust (NYSE:CPT – Get Free Report) 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.

Camden Property Trust Stock Performance

Camden Property Trust stock traded down $2.06 during midday trading on Friday, reaching $113.73. 2,430,518 shares of the company’s stock were exchanged, compared to its average volume of 834,102. The stock’s 50-day simple moving average is $122.03 and its 200 day simple moving average is $113.36. The firm has a market cap 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. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.37 and a current ratio of 0.37. Camden Property Trust has a 52 week low of $85.30 and a 52 week high of $127.69.

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

Camden Property Trust Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CPT shares. JPMorgan Chase & Co. raised their target price on shares of Camden Property Trust from $112.00 to $129.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft upped their target price on Camden Property Trust from $90.00 to $115.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Piper Sandler lifted their price target on Camden Property Trust from $110.00 to $128.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. UBS Group lifted their target price on Camden Property Trust from $109.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, The Goldman Sachs Group began coverage on Camden Property Trust in a research report on Wednesday, September 4th. They set a “neutral” rating and a $139.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $121.76.

View Our Latest Stock Analysis on CPT

Camden Property Trust Company Profile

(Get Free Report)

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.

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