Q1 2024 EPS Estimates for Camden Property Trust Reduced by Analyst (NYSE:CPT)

Camden Property Trust (NYSE:CPT - Free Report) - Analysts at Wedbush decreased their Q1 2024 earnings estimates for Camden Property Trust in a report issued 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 estimate 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.

Camden Property Trust (NYSE:CPT - Get Free Report) last posted its quarterly earnings data on Friday, February 2nd. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.31. Camden Property Trust had a net margin of 26.15% and a return on equity of 8.07%. The business had revenue of $387.59 million during the quarter, compared to the consensus estimate of $387.33 million. During the same quarter last year, the company posted $1.74 earnings per share. The firm's quarterly revenue was up 3.1% compared to the same quarter last year.

A number of other analysts also recently issued reports on CPT. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Camden Property Trust in a report on Tuesday, January 30th. They set a "hold" rating and a $90.00 price objective for the company. Royal Bank of Canada reiterated an "outperform" rating and set a $103.00 target price on shares of Camden Property Trust in a research report on Monday, February 5th. Barclays lowered shares of Camden Property Trust from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $138.00 to $100.00 in a research report on Tuesday, February 20th. Piper Sandler reiterated an "underweight" rating and set a $90.00 target price on shares of Camden Property Trust in a research report on Tuesday, March 26th. Finally, Truist Financial increased their target price on shares of Camden Property Trust from $113.00 to $114.00 and gave the stock a "buy" rating in a research report on Tuesday. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $104.29.

Camden Property Trust Stock Performance

NYSE CPT traded down $2.78 during trading hours on Wednesday, reaching $100.80. 1,019,694 shares of the company were exchanged, compared to its average volume of 1,158,877. Camden Property Trust has a 1 year low of $82.81 and a 1 year high of $114.04. The business's 50 day simple moving average is $96.52 and its 200-day simple moving average is $94.94. 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 stock has a market capitalization of $10.97 billion, a P/E ratio of 27.14, a P/E/G ratio of 3.82 and a beta of 0.83.

Hedge Funds Weigh In On Camden Property Trust

A number of large investors have recently modified their holdings of the company. DekaBank Deutsche Girozentrale lifted its position in Camden Property Trust by 0.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 97,859 shares of the real estate investment trust's stock valued at $9,272,000 after purchasing an additional 317 shares during the last quarter. MBB Public Markets I LLC lifted its position in Camden Property Trust by 201.2% during the third quarter. MBB Public Markets I LLC now owns 235,013 shares of the real estate investment trust's stock valued at $22,228,000 after purchasing an additional 156,985 shares during the last quarter. Bank of Nova Scotia lifted its position in Camden Property Trust by 13.8% during the third quarter. Bank of Nova Scotia now owns 10,519 shares of the real estate investment trust's stock valued at $995,000 after purchasing an additional 1,277 shares during the last quarter. Nordea Investment Management AB lifted its position in Camden Property Trust by 8.7% during the fourth quarter. Nordea Investment Management AB now owns 61,057 shares of the real estate investment trust's stock valued at $6,084,000 after purchasing an additional 4,885 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Camden Property Trust by 205.2% during the fourth quarter. SG Americas Securities LLC now owns 27,664 shares of the real estate investment trust's stock valued at $2,747,000 after purchasing an additional 18,599 shares during the last quarter. 97.22% of the stock is currently owned by institutional investors.

Camden Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 17th. Stockholders of record on Friday, March 29th will be given a $1.03 dividend. This is a positive change from Camden Property Trust's previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Wednesday, March 27th. Camden Property Trust's dividend payout ratio (DPR) is 111.35%.

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.