Camden Property Trust (NYSE:CPT) Releases Q2 2024 Earnings Guidance

Camden Property Trust (NYSE:CPT) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 1.650-1.690 for the period, compared to the consensus estimate of 1.670. The company issued revenue guidance of -. Camden Property Trust also updated its FY 2024 guidance to 6.620-6.860 EPS.

Camden Property Trust Price Performance

NYSE CPT traded up $0.90 during trading hours on Monday, reaching $105.98. The company’s stock 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 PE ratio of 25.98, a PEG ratio of 3.94 and a beta of 0.82. Camden Property Trust has a fifty-two week low of $82.81 and a fifty-two week high of $114.04. The company’s 50-day moving average is $98.16 and its two-hundred day moving average 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 issued its quarterly earnings data on Friday, February 2nd. The real estate investment trust reported $2.03 EPS for the quarter, beating 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 firm 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 company earned $1.74 EPS. The firm’s revenue was up 3.1% on a year-over-year basis. Analysts forecast that Camden Property Trust will post 6.72 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on CPT. StockNews.com raised shares of Camden Property Trust from a sell rating to a hold rating in a research note on Tuesday, April 30th. Wedbush raised their price target on shares of Camden Property Trust from $110.00 to $118.00 and gave the stock an outperform rating in a research note on Monday. Deutsche Bank Aktiengesellschaft began coverage on shares of Camden Property Trust in a research note on Tuesday, January 30th. They set a hold rating and a $90.00 price target on the stock. Piper Sandler raised shares of Camden Property Trust from an underweight rating to a neutral rating and raised their price target for the stock from $90.00 to $110.00 in a research note on Monday. Finally, Truist Financial raised 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 note on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $107.06.

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.