Wedbush Has Optimistic Outlook of CPT FY2024 Earnings

Camden Property Trust (NYSE:CPT) – Investment analysts at Wedbush raised their FY2024 earnings per share estimates for shares of Camden Property Trust in a research note issued to investors on Wednesday, November 6th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will post earnings of $6.82 per share for the year, up from their previous estimate of $6.73. Wedbush has a “Outperform” rating and a $131.00 price objective on the stock. The consensus estimate for Camden Property Trust’s current full-year earnings is $6.80 per share. Wedbush also issued estimates for Camden Property Trust’s FY2025 earnings at $6.82 EPS.

A number of other analysts also recently commented on CPT. Scotiabank increased their price objective on shares of Camden Property Trust from $125.00 to $132.00 and gave the company a “sector perform” rating in a report on Monday, September 16th. Truist Financial raised their price target on Camden Property Trust from $122.00 to $133.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. UBS Group lifted their price objective on shares of Camden Property Trust from $109.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Evercore ISI upped their price target on Camden Property Trust from $116.00 to $118.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Camden Property Trust from $90.00 to $115.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Camden Property Trust has an average rating of “Hold” and an average price target of $122.03.

Camden Property Trust Trading Up 1.0 %

Shares of CPT opened at $118.59 on Friday. The firm’s fifty day moving average is $121.52 and its two-hundred day moving average is $113.85. The stock has a market cap of $12.65 billion, a PE ratio of 37.53, a price-to-earnings-growth ratio of 4.33 and a beta of 0.91. The company has a quick ratio of 0.37, a current ratio of 0.15 and a debt-to-equity ratio of 0.72. Camden Property Trust has a 52-week low of $85.30 and a 52-week high of $127.69.

Camden Property Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Monday, September 30th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.47%. The ex-dividend date was Monday, September 30th. Camden Property Trust’s dividend payout ratio (DPR) is presently 130.38%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Mutual of America Capital Management LLC boosted its stake in shares of Camden Property Trust by 10.7% in the third quarter. Mutual of America Capital Management LLC now owns 37,760 shares of the real estate investment trust’s stock valued at $4,664,000 after buying an additional 3,646 shares in the last quarter. CIBC Asset Management Inc grew its stake in Camden Property Trust by 7.5% in the 3rd quarter. CIBC Asset Management Inc now owns 16,168 shares of the real estate investment trust’s stock valued at $1,997,000 after acquiring an additional 1,130 shares during the last quarter. Impax Asset Management Group plc purchased a new position in shares of Camden Property Trust during the 3rd quarter worth approximately $670,000. Tokio Marine Asset Management Co. Ltd. increased its position in Camden Property Trust by 15.0% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,857 shares of the real estate investment trust’s stock worth $476,000 after buying an additional 504 shares in the last quarter. Finally, Metis Global Partners LLC raised its stake in Camden Property Trust by 21.7% in the 3rd quarter. Metis Global Partners LLC now owns 14,395 shares of the real estate investment trust’s stock valued at $1,778,000 after purchasing an additional 2,569 shares during the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.

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 58,250 apartment homes across the United States.