Camden Property Trust (NYSE:CPT - Get Free Report) 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 Trading Up 4.5 %
NYSE:CPT traded up $4.55 during trading hours on Friday, reaching $105.08. The company's stock had a trading volume of 1,882,880 shares, compared to its average volume of 1,110,522. The firm has a 50-day simple moving average of $97.69 and a 200-day simple moving average of $95.27. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.88 and a current ratio of 0.88. Camden Property Trust has a 1 year low of $82.81 and a 1 year high of $114.04. The firm has a market capitalization of $11.44 billion, a price-to-earnings ratio of 27.17, a PEG ratio of 3.70 and a beta of 0.82.
Camden Property Trust (NYSE:CPT - Get Free Report) last announced its quarterly earnings results on Friday, February 2nd. The real estate investment trust reported $2.03 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $387.33 million. During the same quarter in the prior year, the company posted $1.74 EPS. The firm's revenue for the quarter was up 3.1% compared to the same quarter last year. Research analysts expect that Camden Property Trust will post 6.72 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms recently weighed in on CPT. StockNews.com upgraded Camden Property Trust from a sell rating to a hold rating in a research report on Tuesday. Morgan Stanley upped their price target on Camden Property Trust from $95.00 to $98.00 and gave the stock an equal weight rating in a research note on Monday, February 26th. Barclays cut 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 note on Tuesday, February 20th. Piper Sandler reiterated an underweight rating and issued a $90.00 target price on shares of Camden Property Trust in a research note on Tuesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Camden Property Trust in a research report on Tuesday, January 30th. They set a hold rating and a $90.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $104.29.
Check Out Our Latest Report on CPT
About Camden Property Trust
(
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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.
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