Camden Property Trust (NYSE:CPT) Issues FY 2024 Earnings Guidance

Camden Property Trust (NYSE:CPT) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 6.740-6.840 for the period, compared to the consensus EPS estimate of 6.740. The company issued revenue guidance of -. Camden Property Trust also updated its Q3 2024 guidance to 1.660-1.700 EPS.

Analysts Set New Price Targets

A number of brokerages have issued reports on CPT. JPMorgan Chase & Co. boosted their price target on Camden Property Trust from $104.00 to $112.00 and gave the company a neutral rating in a report on Monday, June 17th. Mizuho cut their price objective on Camden Property Trust from $111.00 to $108.00 and set a buy rating for the company in a research report on Thursday, May 30th. UBS Group boosted their price target on Camden Property Trust from $109.00 to $117.00 and gave the stock a neutral rating in a research report on Thursday, July 18th. Scotiabank boosted their price target on Camden Property Trust from $104.00 to $108.00 and gave the stock a sector perform rating in a research report on Tuesday, May 14th. Finally, Wells Fargo & Company boosted their price target on Camden Property Trust from $92.00 to $104.00 and gave the stock an underweight rating in a research report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Camden Property Trust has an average rating of Hold and an average target price of $107.75.

Camden Property Trust Stock Performance

CPT stock traded up $3.13 during trading hours on Friday, hitting $118.20. 2,342,878 shares of the stock were exchanged, compared to its average volume of 835,443. 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 has a 12 month low of $82.81 and a 12 month high of $121.29. The firm has a market capitalization of $12.59 billion, a P/E ratio of 28.97, a P/E/G ratio of 4.50 and a beta of 0.88. The company has a 50-day simple moving average of $108.92 and a two-hundred day simple moving average of $102.17.

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

Camden Property Trust Announces Dividend

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