Camden Property Trust (NYSE:CPT) Releases Quarterly Earnings Results, Misses Estimates By $0.98 EPS

Camden Property Trust (NYSE:CPT) issued its quarterly earnings data on Thursday. The real estate investment trust reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.98), MarketWatch Earnings reports. The company had revenue of $250.68 million for the quarter, compared to the consensus estimate of $250.73 million. Camden Property Trust had a net margin of 19.06% and a return on equity of 5.39%. Camden Property Trust updated its Q3 2020
After-Hours guidance to 1.14-1.20 EPS and its Q3 guidance to $1.14-1.20 EPS.

Shares of CPT stock traded down $2.16 during trading hours on Friday, reaching $90.81. 2,176,068 shares of the stock traded hands, compared to its average volume of 538,906. Camden Property Trust has a 1-year low of $62.48 and a 1-year high of $120.73. The business has a fifty day moving average price of $91.43 and a 200 day moving average price of $95.27. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $8.84 billion, a PE ratio of 45.63, a PEG ratio of 4.24 and a beta of 0.78.

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Tuesday, June 30th were given a $0.83 dividend. This is an increase from Camden Property Trust’s previous quarterly dividend of $0.80. This represents a $3.32 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Monday, June 29th. Camden Property Trust’s dividend payout ratio (DPR) is 65.87%.

CPT has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price target on shares of Camden Property Trust from $91.00 to $96.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Deutsche Bank cut their target price on Camden Property Trust from $125.00 to $101.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Piper Sandler lifted their price target on Camden Property Trust from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. TheStreet downgraded Camden Property Trust from a “b-” rating to a “c+” rating in a research note on Thursday, May 7th. Finally, SunTrust Banks raised their target price on Camden Property Trust from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $108.53.

About Camden Property Trust

Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 161 properties containing 55,160 apartment homes across the United States.

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Earnings History for Camden Property Trust (NYSE:CPT)

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