Camden Property Trust (NYSE:CPT) Posts Quarterly Earnings Results

by · The Cerbat Gem

Camden Property Trust (NYSE:CPT – Get Free Report) posted its quarterly earnings results on Thursday. The real estate investment trust reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.02, Zacks reports. The firm had revenue of $381.06 million for the quarter, compared to analyst estimates of $384.88 million. Camden Property Trust had a return on equity of 26.99% and a net margin of 71.94%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.70 EPS.

Camden Property Trust Stock Performance

CPT stock traded down $3.88 during midday trading on Friday, reaching $99.83. 1,702,748 shares of the company were exchanged, compared to its average volume of 860,349. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.18 and a quick ratio of 0.18. The business has a 50-day moving average price of $100.55 and a two-hundred day moving average price of $105.83. Camden Property Trust has a one year low of $95.30 and a one year high of $119.81. The firm has a market capitalization of $10.04 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 7.39 and a beta of 0.75.

Camden Property Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th were issued a dividend of $1.06 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $4.24 annualized dividend and a yield of 4.2%. Camden Property Trust’s dividend payout ratio (DPR) is currently 140.40%.

More Camden Property Trust News

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

Analyst Ratings Changes

Several analysts have issued reports on the stock. Cantor Fitzgerald upped their price target on shares of Camden Property Trust from $102.00 to $111.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Wells Fargo & Company decreased their price objective on shares of Camden Property Trust from $110.00 to $103.00 and set an “equal weight” rating for the company in a research report on Monday, October 19th. Evercore set a $110.00 price objective on shares of Camden Property Trust in a research report on Monday, September 21st. Barclays lowered their price objective on shares of Camden Property Trust from $123.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 14th. Finally, Jefferies Financial Group raised shares of Camden Property Trust to a “hold” rating in a report on Wednesday, July 22nd. Three research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $111.62.

View Our Latest Analysis on Camden Property Trust

Camden Property Trust Company Profile

(Get Free Report)

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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