Camden Property Trust (NYSE:CPT) Releases Q2 Earnings Guidance

Camden Property Trust (NYSE:CPT) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.65-1.69 for the period, compared to the consensus estimate of $1.67. Camden Property Trust also updated its FY24 guidance to $6.62-6.86 EPS.

Camden Property Trust Trading Up 2.0 %

CPT traded up $1.98 during mid-day trading on Thursday, reaching $100.53. The stock had a trading volume of 1,165,878 shares, compared to its average volume of 1,098,593. The firm’s fifty day simple moving average is $97.57 and its two-hundred day simple moving average is $95.23. The stock has a market capitalization of $10.94 billion, a P/E ratio of 26.64, a P/E/G ratio of 3.74 and a beta of 0.82. Camden Property Trust has a 52 week low of $82.81 and a 52 week high of $114.04. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.88 and a current ratio of 0.88.

Camden Property Trust (NYSE:CPT) last posted its quarterly earnings results on Friday, February 2nd. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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 8.07% and a net margin of 26.15%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.74 earnings per share. On average, equities analysts predict that Camden Property Trust will post 6.72 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Camden Property Trust from $113.00 to $114.00 and gave the stock a buy rating in a research report on Tuesday, April 9th. Piper Sandler reaffirmed an underweight rating and set a $90.00 target price on shares of Camden Property Trust in a report on Tuesday, March 26th. Morgan Stanley increased their price target 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. Royal Bank of Canada restated an outperform rating and issued a $103.00 price target on shares of Camden Property Trust in a research report on Monday, February 5th. Finally, Mizuho dropped their price objective on Camden Property Trust from $103.00 to $99.00 and set a buy rating for the company in a report on Wednesday, February 28th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $104.29.

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.