Wedbush Predicts Stronger Earnings for Camden Property Trust

Camden Property Trust (NYSE:CPT) – Equities research analysts at Wedbush lifted their FY2024 EPS estimates for shares of Camden Property Trust in a report issued on Wednesday, November 6th. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings per share of $6.82 for the year, up from their prior forecast of $6.73. Wedbush currently has a “Outperform” rating and a $131.00 target price 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.

Several other analysts also recently issued reports on CPT. Piper Sandler upped their price objective on Camden Property Trust from $110.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. BNP Paribas assumed coverage on shares of Camden Property Trust in a research note on Wednesday, September 11th. They set a “neutral” rating and a $129.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Camden Property Trust from $112.00 to $129.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. The Goldman Sachs Group started coverage on shares of Camden Property Trust in a research report on Wednesday, September 4th. They set a “neutral” rating and a $139.00 target price on the stock. Finally, StockNews.com downgraded Camden Property Trust from a “hold” rating to a “sell” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Camden Property Trust currently has an average rating of “Hold” and a consensus price target of $122.03.

Camden Property Trust Price Performance

Shares of NYSE:CPT opened at $121.75 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.37 and a current ratio of 0.15. The business’s fifty day moving average price is $121.45 and its two-hundred day moving average price is $114.01. The stock has a market cap of $12.99 billion, a PE ratio of 38.53, a price-to-earnings-growth ratio of 4.33 and a beta of 0.91. Camden Property Trust has a one year low of $85.30 and a one year high of $127.69.

Camden Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Monday, September 30th were issued a $1.03 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $4.12 annualized dividend and a yield of 3.38%. Camden Property Trust’s payout ratio is 130.38%.

Hedge Funds Weigh In On Camden Property Trust

A number of hedge funds have recently made changes to their positions in the business. Centersquare Investment Management LLC raised its position in Camden Property Trust by 64.2% in the first quarter. Centersquare Investment Management LLC now owns 2,296,741 shares of the real estate investment trust’s stock valued at $228,939,000 after purchasing an additional 898,398 shares during the period. Duquesne Family Office LLC acquired a new stake in shares of Camden Property Trust in the second quarter valued at about $63,056,000. Jennison Associates LLC purchased a new stake in shares of Camden Property Trust during the 3rd quarter valued at about $47,140,000. Robeco Institutional Asset Management B.V. lifted its position in Camden Property Trust by 4,254.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 341,810 shares of the real estate investment trust’s stock worth $42,224,000 after acquiring an additional 333,961 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Camden Property Trust by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 17,291,878 shares of the real estate investment trust’s stock worth $1,701,521,000 after acquiring an additional 289,425 shares during the period. Hedge funds and other institutional investors own 97.22% of the company’s stock.

About Camden Property Trust

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.