Camden Property Trust (NYSE:CPT) Issues FY24 Earnings Guidance

by · The Cerbat Gem

Camden Property Trust (NYSE:CPT – Get Free Report) issued an update on its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $6.79-6.83 for the period, compared to the consensus EPS estimate of $6.81. Camden Property Trust also updated its FY 2024 guidance to 6.790-6.830 EPS.

Wall Street Analyst Weigh In

A number of brokerages have commented on CPT. StockNews.com cut shares of Camden Property Trust from a “hold” rating to a “sell” rating in a research report on Friday. UBS Group boosted their price target on Camden Property Trust from $109.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Jefferies Financial Group began coverage on shares of Camden Property Trust in a research report on Friday, October 11th. They set a “hold” rating and a $123.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Camden Property Trust in a research report on Wednesday, September 4th. They set a “neutral” rating and a $139.00 target price on the stock. Finally, Royal Bank of Canada downgraded shares of Camden Property Trust from an “outperform” rating to a “sector perform” rating and set a $122.00 price target for the company. in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Camden Property Trust has an average rating of “Hold” and an average price target of $121.76.

View Our Latest Stock Report on Camden Property Trust

Camden Property Trust Stock Down 1.8 %

CPT stock traded down $2.06 during trading on Friday, reaching $113.73. The stock had a trading volume of 2,430,518 shares, compared to its average volume of 834,102. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.72. The company has a market capitalization 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. Camden Property Trust has a one year low of $85.30 and a one year high of $127.69. The company’s 50 day moving average is $122.03 and its two-hundred day moving average is $113.36.

Camden Property Trust (NYSE:CPT – Get Free Report) 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 the consensus estimate of $1.67 by ($1.27). The business had revenue of $387.15 million during the quarter, compared to the consensus estimate of $384.76 million. Camden Property Trust had a net margin of 22.32% and a return on equity of 6.91%. During the same period in the prior year, the company earned $1.70 earnings per share. Equities research analysts forecast that Camden Property Trust will post 6.78 EPS for the current year.

Camden Property Trust Dividend Announcement

The firm 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. This represents a $4.12 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Monday, September 30th. Camden Property Trust’s dividend payout ratio is presently 130.38%.

About Camden Property Trust

(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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