Camden Property Trust (NYSE:CPT) Updates Q3 2024 Earnings Guidance

Camden Property Trust (NYSE:CPT) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.660-1.700 for the period, compared to the consensus earnings per share estimate of 1.680. The company issued revenue guidance of -. Camden Property Trust also updated its FY 2024 guidance to 6.740-6.840 EPS.

Analyst Ratings Changes

Several research firms have weighed in on CPT. JPMorgan Chase & Co. raised their target price on Camden Property Trust from $104.00 to $112.00 and gave the company a neutral rating in a report on Monday, June 17th. Royal Bank of Canada raised their target price on Camden Property Trust from $107.00 to $110.00 and gave the company an outperform rating in a report on Monday, May 6th. Truist Financial raised their target price on Camden Property Trust from $114.00 to $122.00 and gave the company a buy rating in a report on Monday, June 24th. Morgan Stanley raised their target price on Camden Property Trust from $98.00 to $105.50 and gave the company an equal weight rating in a report on Tuesday, May 14th. Finally, Piper Sandler raised Camden Property Trust from an underweight rating to a neutral rating and raised their price target for the company from $90.00 to $110.00 in a research report on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Camden Property Trust presently has a consensus rating of Hold and a consensus price target of $107.75.

Camden Property Trust Stock Performance

CPT stock traded up $3.13 during trading on Friday, reaching $118.20. 2,342,878 shares of the stock were exchanged, compared to its average volume of 835,443. Camden Property Trust has a twelve month low of $82.81 and a twelve month high of $121.29. The company has a market capitalization of $12.59 billion, a P/E ratio of 28.97, a price-to-earnings-growth ratio of 4.50 and a beta of 0.88. The stock has a 50 day simple moving average of $108.92 and a 200-day simple moving average of $102.17. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.71.

Camden Property Trust (NYSE:CPT) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.27). The company had revenue of $387.15 million for the quarter, compared to analyst estimates of $384.76 million. Camden Property Trust had a net margin of 25.64% and a return on equity of 7.95%. During the same period in the previous year, the firm posted $1.70 earnings per share. As a group, sell-side analysts anticipate that Camden Property Trust will post 6.73 earnings per share for the current year.

Camden Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 17th. Shareholders of record on Friday, June 28th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend was Friday, June 28th. Camden Property Trust’s payout ratio is 100.98%.

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 58,634 apartment homes across the United States.