Camden Property Trust (NYSE:CPT) Updates 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 FY24 guidance to $6.79-6.83 EPS.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CPT shares. Wells Fargo & Company raised shares of Camden Property Trust from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $104.00 to $127.00 in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft boosted 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 raised their price target on Camden Property Trust from $110.00 to $128.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Truist Financial lifted their price objective on Camden Property Trust from $122.00 to $133.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Finally, Wedbush raised their target price on Camden Property Trust from $118.00 to $131.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Fifteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Camden Property Trust has a consensus rating of “Hold” and an average target price of $121.76.

Camden Property Trust Price Performance

Shares of NYSE CPT traded down $1.57 during trading on Thursday, reaching $115.79. The company had a trading volume of 1,843,040 shares, compared to its average volume of 985,554. 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 twelve month low of $82.89 and a twelve month high of $127.69. The stock has a 50-day moving average price of $122.31 and a two-hundred day moving average price of $113.10. The stock has a market capitalization of $12.35 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 4.51 and a beta of 0.90.

Camden Property Trust (NYSE:CPT) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.27). The firm had revenue of $387.15 million during the quarter, compared to analysts’ expectations of $384.76 million. Camden Property Trust had a net margin of 25.64% and a return on equity of 7.98%. During the same quarter last year, the company posted $1.70 earnings per share. As a group, sell-side analysts predict that Camden Property Trust will post 6.77 earnings per share for the current year.

Camden Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Stockholders 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 dividend yield of 3.56%. Camden Property Trust’s payout ratio is currently 113.19%.

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 58,250 apartment homes across the United States.