Camden Property Trust (NYSE:CPT) Announces Quarterly Earnings Results

Camden Property Trust (NYSE:CPT) posted its quarterly earnings data on Thursday. The real estate investment trust reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.02, Zacks reports. Camden Property Trust had a return on equity of 7.66% and a net margin of 20.80%. The firm had revenue of $381.06 million for the quarter, compared to the consensus estimate of $384.88 million. During the same quarter in the previous year, the company earned $1.70 EPS. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year.

Camden Property Trust Trading Up 0.7%

Shares of NYSE:CPT opened at $100.09 on Tuesday. The firm has a fifty day moving average of $100.42 and a two-hundred day moving average of $105.79. The firm has a market capitalization of $10.06 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 7.77 and a beta of 0.75. Camden Property Trust has a 12-month low of $95.30 and a 12-month high of $119.81. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.25.

Camden Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th were given a $1.06 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $4.24 dividend on an annualized basis and a yield of 4.2%. Camden Property Trust’s dividend payout ratio is presently 39.52%.

Analyst Ratings Changes

CPT has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Camden Property Trust from $113.00 to $114.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Piper Sandler reduced their target price on Camden Property Trust from $119.00 to $102.00 and set a “neutral” rating for the company in a report on Monday, October 12th. Evercore set a $110.00 target price on Camden Property Trust in a research report on Monday, September 21st. Stifel Nicolaus set a $123.25 price target on Camden Property Trust in a report on Friday, July 31st. Finally, Morgan Stanley dropped their price target on Camden Property Trust from $120.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 12th. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Camden Property Trust currently has a consensus rating of “Hold” and an average target price of $110.95.

Camden Property Trust Company Profile

Camden Property Trust is a real estate investment trust that owns, develops, acquires and manages apartment communities. Its residential properties serve renters in markets across the United States, with a focus on major metropolitan areas.

Founded in 1982 and headquartered in Houston, Texas, Camden has grown into a multifamily housing operator. Its services include leasing apartments and managing the day-to-day operations of its communities.