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

Camden Property Trust (NYSE:CPT) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 6.620-6.860 for the period, compared to the consensus earnings per share estimate of 6.720. The company issued revenue guidance of -. Camden Property Trust also updated its Q2 2024 guidance to 1.650-1.690 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CPT. Barclays lowered shares of Camden Property Trust from an overweight rating to an equal weight rating and cut their price objective for the company from $138.00 to $100.00 in a report on Tuesday, February 20th. Truist Financial increased their price objective on shares of Camden Property Trust from $113.00 to $114.00 and gave the company a buy rating in a report on Tuesday, April 9th. The Goldman Sachs Group assumed coverage on Camden Property Trust in a research report on Thursday, February 22nd. They set a buy rating and a $112.00 target price for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Camden Property Trust in a research report on Tuesday, January 30th. They set a hold rating and a $90.00 target price for the company. Finally, Wedbush increased their target price on Camden Property Trust from $110.00 to $118.00 and gave the company an outperform rating in a research report on Monday. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $107.06.

Camden Property Trust Trading Up 0.9 %

CPT traded up $0.90 during trading on Monday, reaching $105.98. The company had a trading volume of 1,433,052 shares, compared to its average volume of 1,114,279. The stock 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 business has a 50 day simple moving average of $98.16 and a 200-day simple moving average of $95.40. Camden Property Trust has a 52 week low of $82.81 and a 52 week high of $114.04. The company has a quick ratio of 0.88, a current ratio of 0.43 and a debt-to-equity ratio of 0.71.

Camden Property Trust (NYSE:CPT) last released its earnings results on Friday, February 2nd. The real estate investment trust reported $2.03 earnings per share 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 business had revenue of $387.59 million for the quarter, compared to analyst estimates of $387.33 million. During the same quarter last year, the firm posted $1.74 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. On average, equities analysts anticipate that Camden Property Trust will post 6.72 EPS for the current fiscal year.

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.