Camden Property Trust (NYSE:CPT) Stock Breaks Below Fifty Day Moving Average - Here's What Happened

Key Points

• Camden Property Trust shares fell below their 50-day moving average, reaching $97.83 and last trading at about $99.83, versus a 50-day average of $100.55.
• Q3 FFO was $1.71 per share, beating the $1.69 consensus, but revenue fell 3.7% year over year to $381.06 million and missed estimates; the company forecast Q4 core FFO of $1.63–$1.67 per share.
• Analysts’ consensus rating is Hold, with an average price target of $111.62. Camden also pays an annualized dividend of $4.24 per share, a yield of about 4.2%.

Shares of Camden Property Trust (NYSE:CPT - Get Free Report) passed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $100.55 and traded as low as $97.83. Camden Property Trust shares last traded at $99.8310, with a volume of 1,702,748 shares trading hands.

Key Headlines Impacting Camden Property Trust

Here are the key news stories impacting Camden Property Trust this week:

• Positive Sentiment: Q3 funds from operations (FFO) were $1.71 per share, topping the $1.69 consensus and rising from $1.70 a year earlier. The company also cited improving leasing trends and lower property expenses. Camden Property's Q3 FFO Beats Estimates as Leasing Trends Improve
• Neutral Sentiment: Camden forecast Q4 core FFO of $1.63–$1.67 per share; the available report did not provide a comparable analyst estimate to gauge whether the outlook is above or below expectations. Camden Property Trust Q4 Core FFO Guidance
• Negative Sentiment: Revenue was $381.06 million, below analysts’ $384.88 million estimate and down 3.7% year over year. Reports also flagged weakness in same-property NOI, tempering the FFO beat and raising concerns about operating momentum. Camden Property Q3 FFO Higher, Revenue Lower; Issues Guidance

Wall Street Analyst Weigh In

CPT has been the subject of several research analyst reports. Truist Financial lowered their price objective on shares of Camden Property Trust from $123.00 to $108.00 and set a "buy" rating for the company in a research report on Friday, September 25th. Piper Sandler cut their target price on Camden Property Trust from $119.00 to $102.00 and set a "neutral" rating on the stock in a research report on Monday, October 12th. Mizuho dropped their price target on Camden Property Trust from $125.00 to $116.00 and set an "outperform" rating on the stock in a research report on Tuesday, September 8th. Wall Street Zen raised Camden Property Trust from a "strong sell" rating to a "sell" rating in a report on Saturday. Finally, Morgan Stanley lowered their price target on shares of Camden Property Trust from $120.00 to $118.00 and set an "equal weight" rating for the company in a report on Wednesday, August 12th. Three equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Camden Property Trust currently has a consensus rating of "Hold" and an average price target of $111.62.

Camden Property Trust Price Performance

The stock's 50-day moving average is $100.55 and its 200-day moving average is $105.83. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.25. The firm has a market cap of $10.04 billion, a P/E ratio of 9.30, a price-to-earnings-growth ratio of 7.56 and a beta of 0.75.

Camden Property Trust (NYSE:CPT - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported $1.71 earnings per share for the quarter, beating analysts' consensus estimates of $1.69 by $0.02. Camden Property Trust had a net margin of 20.80% and a return on equity of 7.66%. The business had revenue of $381.06 million during the quarter, compared to analyst estimates of $384.88 million. During the same period in the previous year, the business earned $1.70 EPS. Camden Property Trust's revenue was down 3.7% compared to the same quarter last year. As a group, equities analysts anticipate that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Camden Property Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th were given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Wednesday, September 30th. Camden Property Trust's dividend payout ratio is presently 140.40%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Aberdeen Group plc boosted its holdings in shares of Camden Property Trust by 60.8% in the 3rd quarter. Aberdeen Group plc now owns 459,143 shares of the real estate investment trust's stock valued at $44,413,000 after buying an additional 173,644 shares during the period. William Blair Investment Management LLC increased its holdings in Camden Property Trust by 5.0% during the third quarter. William Blair Investment Management LLC now owns 2,791 shares of the real estate investment trust's stock worth $270,000 after buying an additional 132 shares during the last quarter. Allworth Financial LP grew its stake in shares of Camden Property Trust by 69,250.2% in the third quarter. Allworth Financial LP now owns 285,723 shares of the real estate investment trust's stock worth $27,638,000 after purchasing an additional 285,311 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Camden Property Trust by 79.1% in the third quarter. Fisher Asset Management LLC now owns 7,342 shares of the real estate investment trust's stock valued at $710,000 after acquiring an additional 3,242 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Camden Property Trust by 120.5% during the third quarter. Russell Investments Group Ltd. now owns 1,463,966 shares of the real estate investment trust's stock valued at $141,609,000 after purchasing an additional 800,168 shares in the last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.

Camden Property Trust Company Profile

Camden Property Trust NYSE: CPT is a real estate investment trust that owns, develops, acquires, and manages multifamily apartment communities. The company provides rental housing to individuals and families through a portfolio of communities offering a range of apartment layouts, amenities, and resident services.

Camden focuses primarily on high-growth markets in the Sun Belt, including metropolitan areas in Texas, Arizona, Colorado, Florida, Georgia, North Carolina, and Tennessee. Its communities are generally located in major urban and suburban markets and are managed through the company's in-house property management platform.

Founded in 1993 and headquartered in Houston, Texas, Camden Property Trust has expanded through apartment development, acquisitions, and ongoing property renovations.

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