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

Camden Property Trust (NYSE:CPT) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 6.620-6.860 for the period, compared to the consensus 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.

Analyst Ratings Changes

Several research analysts have recently weighed in on CPT shares. The Goldman Sachs Group initiated coverage on shares of Camden Property Trust in a research note on Thursday, February 22nd. They issued a buy rating and a $112.00 target price for the company. Morgan Stanley raised their target price on Camden Property Trust from $95.00 to $98.00 and gave the company an equal weight rating in a research note on Monday, February 26th. Wedbush boosted their price target on Camden Property Trust from $110.00 to $118.00 and gave the stock an outperform rating in a research note on Monday. Piper Sandler upgraded Camden Property Trust from an underweight rating to a neutral rating and raised their price objective for the company from $90.00 to $110.00 in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft began coverage on Camden Property Trust in a report on Tuesday, January 30th. They set a hold rating and a $90.00 price objective on the stock. Two investment 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. Based on data from MarketBeat, Camden Property Trust currently has an average rating of Hold and a consensus price target of $107.06.

Camden Property Trust Stock Performance

CPT traded up $0.90 on Monday, hitting $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 current ratio of 0.43, a quick ratio of 0.88 and a debt-to-equity ratio of 0.71. The stock has a fifty day moving average of $98.16 and a two-hundred day moving average of $95.40. Camden Property Trust has a twelve month low of $82.81 and a twelve month high of $114.04. The firm has a market cap of $11.54 billion, a PE ratio of 25.98, a P/E/G ratio of 3.94 and a beta of 0.82.

Camden Property Trust (NYSE:CPT) last announced its quarterly 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. The business had revenue of $387.59 million for the quarter, compared to analysts’ expectations of $387.33 million. Camden Property Trust had a return on equity of 8.92% and a net margin of 28.78%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.74 EPS. On average, research analysts anticipate that Camden Property Trust will post 6.72 earnings per share for the current fiscal year.

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 58,634 apartment homes across the United States.