Camden Property Trust (NYSE:CPT) Issues FY24 Earnings Guidance

Camden Property Trust (NYSE:CPT) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $6.62-6.86 for the period, compared to the consensus earnings per share estimate of $6.73. Camden Property Trust also updated its Q2 guidance to $1.65-1.69 EPS.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CPT. 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. The Goldman Sachs Group assumed coverage on Camden Property Trust in a research note on Thursday, February 22nd. They issued a buy rating and a $112.00 price target on the stock. Barclays lowered Camden Property Trust from an overweight rating to an equal weight rating and reduced their price objective for the company from $138.00 to $100.00 in a research note on Tuesday, February 20th. Truist Financial boosted their target price on Camden Property Trust from $113.00 to $114.00 and gave the stock a buy rating in a research note on Tuesday, April 9th. Finally, Royal Bank of Canada restated an outperform rating and issued a $103.00 price target on shares of Camden Property Trust in a research note on Monday, February 5th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Camden Property Trust has an average rating of Hold and a consensus price target of $104.29.

Camden Property Trust Trading Up 2.0 %

Shares of NYSE CPT traded up $1.98 during trading on Thursday, reaching $100.53. The company had a trading volume of 1,165,878 shares, compared to its average volume of 1,098,593. The stock has a market cap of $10.94 billion, a P/E ratio of 26.64, a PEG ratio of 3.74 and a beta of 0.82. The company’s fifty day moving average price is $97.57 and its 200-day moving average price is $95.23. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. Camden Property Trust has a 12 month low of $82.81 and a 12 month high of $114.04.

Camden Property Trust (NYSE:CPT) last announced its earnings results on Friday, February 2nd. The real estate investment trust reported $2.03 EPS for the quarter, beating the consensus estimate of $1.72 by $0.31. Camden Property Trust had a return on equity of 8.07% and a net margin of 26.15%. The business had revenue of $387.59 million for the quarter, compared to analysts’ expectations of $387.33 million. During the same period in the prior year, the business posted $1.74 earnings per share. The firm’s revenue was up 3.1% on a year-over-year basis. As a group, research analysts expect that Camden Property Trust will post 6.72 earnings per share for the current 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.