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 (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.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of Camden Property Trust from $95.00 to $98.00 and gave the stock an equal weight rating in a report on Monday, February 26th. Piper Sandler raised shares of Camden Property Trust from an underweight rating to a neutral rating and raised their price objective for the stock from $90.00 to $110.00 in a report on Monday. Mizuho raised their price objective on shares of Camden Property Trust from $99.00 to $111.00 and gave the stock a buy rating in a report on Monday. Royal Bank of Canada raised their price objective on shares of Camden Property Trust from $107.00 to $110.00 and gave the stock an outperform rating in a report on Monday. Finally, StockNews.com raised shares of Camden Property Trust from a sell rating to a hold rating in a report on Tuesday, April 30th. 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. According to data from MarketBeat, Camden Property Trust presently has a consensus rating of Hold and a consensus price target of $107.06.

Camden Property Trust Price Performance

Shares of CPT stock traded up $0.90 during midday trading on Monday, reaching $105.98. 1,433,052 shares of the company were exchanged, compared to its average volume of 1,114,279. Camden Property Trust has a 12 month low of $82.81 and a 12 month 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 company’s 50 day moving average price is $98.16 and its two-hundred day moving average price is $95.40. 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 (NYSE:CPT) last released 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 net margin of 28.78% and a return on equity of 8.92%. The company had revenue of $387.59 million for the quarter, compared to the consensus estimate of $387.33 million. During the same period 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. On average, sell-side analysts expect that Camden Property Trust will post 6.72 earnings per share for the current 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.