Q3 2024 EPS Estimates for Camden Property Trust (NYSE:CPT) Lowered by Wedbush

Camden Property Trust (NYSE:CPT - Free Report) - Equities researchers at Wedbush decreased their Q3 2024 earnings per share estimates for Camden Property Trust in a report released on Monday, April 8th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will earn $1.71 per share for the quarter, down from their prior forecast of $1.73. The consensus estimate for Camden Property Trust's current full-year earnings is $6.74 per share.

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

Several other research analysts also recently commented on the company. The Goldman Sachs Group began coverage on Camden Property Trust in a research report on Thursday, February 22nd. They issued a "buy" rating and a $112.00 price target on the stock. Piper Sandler reiterated an "underweight" rating and set a $90.00 target price on shares of Camden Property Trust in a research note on Tuesday, March 26th. Morgan Stanley increased their price target on shares of Camden Property Trust from $95.00 to $98.00 and gave the company an "equal weight" rating in a report on Monday, February 26th. 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 on the stock. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $103.00 target price on shares of Camden Property Trust in a research note on Monday, February 5th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $104.29.

Camden Property Trust Stock Performance

Shares of Camden Property Trust stock traded down $0.83 during trading on Thursday, reaching $99.97. The company's stock had a trading volume of 1,233,360 shares, compared to its average volume of 1,159,944. Camden Property Trust has a one year low of $82.81 and a one year high of $114.04. 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 has a market cap of $10.88 billion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 3.82 and a beta of 0.83. The business's fifty day moving average price is $96.75 and its 200-day moving average price is $95.01.

Camden Property Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Investors of record on Friday, March 29th will be issued a dividend of $1.03 per share. This is an increase from Camden Property Trust's previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Wednesday, March 27th. Camden Property Trust's dividend payout ratio (DPR) is currently 111.35%.

Hedge Funds Weigh In On Camden Property Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CPT. Vanguard Group Inc. boosted its holdings in shares of Camden Property Trust by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 17,002,453 shares of the real estate investment trust's stock worth $1,688,174,000 after acquiring an additional 60,511 shares in the last quarter. BlackRock Inc. boosted its stake in Camden Property Trust by 1.6% in the first quarter. BlackRock Inc. now owns 9,961,282 shares of the real estate investment trust's stock worth $1,044,341,000 after purchasing an additional 157,326 shares in the last quarter. State Street Corp grew its holdings in shares of Camden Property Trust by 0.7% during the first quarter. State Street Corp now owns 6,890,494 shares of the real estate investment trust's stock worth $729,147,000 after purchasing an additional 45,705 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Camden Property Trust by 41.6% in the third quarter. JPMorgan Chase & Co. now owns 4,044,988 shares of the real estate investment trust's stock valued at $382,575,000 after buying an additional 1,187,974 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Camden Property Trust in the fourth quarter valued at about $376,933,000. 97.22% of the stock is currently owned by institutional investors and hedge funds.

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.