Camden Property Trust (NYSE:CPT) Forecasted to Earn Q1 2024 Earnings of $1.64 Per Share

Camden Property Trust (NYSE:CPT) – Research analysts at Wedbush lowered their Q1 2024 earnings per share (EPS) estimates for shares of Camden Property Trust in a note issued to investors on Monday, April 8th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will post earnings per share of $1.64 for the quarter, down from their prior forecast of $1.65. The consensus estimate for Camden Property Trust’s current full-year earnings is $6.74 per share. Wedbush also issued estimates for Camden Property Trust’s Q2 2024 earnings at $1.67 EPS, Q4 2024 earnings at $1.71 EPS, FY2024 earnings at $6.74 EPS and FY2025 earnings at $6.92 EPS.

A number of other equities research analysts have also weighed in on CPT. Mizuho lowered their price objective on Camden Property Trust from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Camden Property Trust in a research report on Tuesday, January 30th. They issued a “hold” rating and a $90.00 target price for the company. Piper Sandler reiterated an “underweight” rating and issued a $90.00 target price on shares of Camden Property Trust in a research report on Tuesday, March 26th. BMO Capital Markets reiterated a “market perform” rating and issued a $100.00 target price on shares of Camden Property Trust in a research report on Friday, December 15th. Finally, Barclays lowered Camden Property Trust from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $138.00 to $100.00 in a research report on Tuesday, February 20th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $104.29.

Camden Property Trust Price Performance

Shares of NYSE CPT opened at $100.80 on Wednesday. Camden Property Trust has a fifty-two week low of $82.81 and a fifty-two week high of $114.04. The business has a 50 day moving average price of $96.66 and a two-hundred day moving average price of $94.98. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The firm has a market cap of $10.97 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 3.82 and a beta of 0.83.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings data on Friday, February 2nd. The real estate investment trust reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $387.59 million during the quarter, compared to analyst estimates of $387.33 million. During the same quarter last year, the firm earned $1.74 EPS. Camden Property Trust’s quarterly revenue was up 3.1% on a year-over-year basis.

Camden Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Friday, March 29th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from Camden Property Trust’s previous quarterly dividend of $1.00. Camden Property Trust’s payout ratio is 111.35%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. lifted its holdings in shares of Camden Property Trust by 57.0% in the fourth quarter. Bessemer Group Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 94 shares during the period. Mercer Global Advisors Inc. ADV raised its position in Camden Property Trust by 1.0% during the third quarter. Mercer Global Advisors Inc. ADV now owns 9,751 shares of the real estate investment trust’s stock valued at $1,165,000 after buying an additional 95 shares during the period. Rockefeller Capital Management L.P. raised its position in Camden Property Trust by 0.3% during the first quarter. Rockefeller Capital Management L.P. now owns 36,569 shares of the real estate investment trust’s stock valued at $3,833,000 after buying an additional 96 shares during the period. qPULA Trading Management LP increased its position in Camden Property Trust by 7.7% in the 1st quarter. qPULA Trading Management LP now owns 1,400 shares of the real estate investment trust’s stock worth $233,000 after purchasing an additional 100 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Camden Property Trust by 23.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 636 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 119 shares during the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.

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.