Camden Property Trust (NYSE:CPT) Issues Q2 2024 Earnings Guidance

Camden Property Trust (NYSE:CPT) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided EPS guidance of 1.650-1.690 for the period, compared to the consensus EPS estimate of 1.670. The company issued revenue guidance of -. Camden Property Trust also updated its FY 2024 guidance to 6.620-6.860 EPS.

Camden Property Trust Price Performance

Shares of Camden Property Trust stock traded up $0.90 during trading on Monday, reaching $105.98. 1,433,052 shares of the company’s stock were exchanged, compared to its average volume of 1,114,279. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.88 and a current ratio of 0.43. Camden Property Trust has a 1-year low of $82.81 and a 1-year high of $114.04. The company has a market cap of $11.54 billion, a P/E ratio of 25.98, a PEG ratio of 3.94 and a beta of 0.82. The firm’s 50-day moving average price is $98.16 and its 200 day moving average price is $95.40.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings results on Friday, February 2nd. The real estate investment trust reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.31. Camden Property Trust had a return on equity of 8.92% and a net margin of 28.78%. The company had revenue of $387.59 million during the quarter, compared to analysts’ expectations of $387.33 million. During the same quarter in the previous year, the firm earned $1.74 EPS. Camden Property Trust’s revenue was up 3.1% on a year-over-year basis. As a group, research analysts anticipate that Camden Property Trust will post 6.72 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CPT shares. Royal Bank of Canada boosted their price target on Camden Property Trust from $107.00 to $110.00 and gave the stock an outperform rating in a report on Monday. The Goldman Sachs Group started coverage on Camden Property Trust in a research report on Thursday, February 22nd. They set a buy rating and a $112.00 price objective on the stock. Piper Sandler upgraded Camden Property Trust from an underweight rating to a neutral rating and boosted their price objective for the stock from $90.00 to $110.00 in a research report on Monday. Barclays lowered Camden Property Trust from an overweight rating to an equal weight rating and reduced their price objective for the stock from $138.00 to $100.00 in a research report on Tuesday, February 20th. Finally, StockNews.com upgraded Camden Property Trust from a sell rating to a hold rating in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $107.06.

About Camden Property Trust

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.