Camden Property Trust (NYSE:CPT) Expected to Earn Q3 2024 Earnings of $1.71 Per Share

Camden Property Trust (NYSE:CPT) – Equities researchers at Wedbush decreased their Q3 2024 earnings estimates for Camden Property Trust in a research report issued to clients and investors on Monday, April 8th. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings per share of $1.71 for the quarter, down from their previous estimate of $1.73. The consensus estimate for Camden Property Trust’s current full-year earnings is $6.74 per share.

Other research analysts have also issued research reports about the company. 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 report on Tuesday, February 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $103.00 price target on shares of Camden Property Trust in a report on Monday, February 5th. The Goldman Sachs Group initiated coverage on Camden Property Trust in a research note on Thursday, February 22nd. They issued a “buy” rating and a $112.00 price target for the company. Truist Financial increased their price objective on shares of Camden Property Trust from $113.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $100.00 price target on shares of Camden Property Trust in a research report on Friday, December 15th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Camden Property Trust presently has an average rating of “Hold” and a consensus target price of $104.29.

Camden Property Trust Trading Down 0.8 %

Camden Property Trust stock opened at $99.97 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.88 and a current ratio of 0.88. The firm’s 50-day moving average is $96.75 and its 200-day moving average is $95.01. Camden Property Trust has a 1 year low of $82.81 and a 1 year high of $114.04. The company has a market cap of $10.88 billion, a P/E ratio of 27.02, a PEG ratio of 3.82 and a beta of 0.83.

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

Camden Property Trust Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CPT. Bessemer Group Inc. boosted its stake in shares of Camden Property Trust by 57.0% during the 4th quarter. Bessemer Group Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 94 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in Camden Property Trust by 60.8% during the 3rd quarter. Parkside Financial Bank & Trust now owns 381 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 144 shares during the last quarter. Tobam grew its position in Camden Property Trust by 4,166.7% in the 4th quarter. Tobam now owns 384 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 375 shares during the last quarter. Resurgent Financial Advisors LLC bought a new position in shares of Camden Property Trust during the 4th quarter worth about $45,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Camden Property Trust by 100.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 445 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 223 shares during the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.

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.