Camden Property Trust (NYSE:CPT) Shares Break Below Fifty Day Moving Average – Here’s What Happened

Shares of Camden Property Trust (NYSE:CPT) crossed below its 50-day moving average during trading on Friday. The stock has a 50-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 traded.

More Camden Property Trust News

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

Several research analysts have recently issued reports on the stock. Truist Financial reduced their target price on shares of Camden Property Trust from $123.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, September 25th. Mizuho dropped their price objective on shares of Camden Property Trust from $125.00 to $116.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 8th. Jefferies Financial Group upgraded Camden Property Trust to a “hold” rating in a research note on Wednesday, July 22nd. UBS Group cut their target price on shares of Camden Property Trust from $105.00 to $101.00 and set a “neutral” rating for the company in a research note on Wednesday, October 14th. Finally, Royal Bank Of Canada dropped their target price on shares of Camden Property Trust from $111.00 to $101.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 13th. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $111.62.

Camden Property Trust Stock Down 3.7%

The stock has a market cap of $10.04 billion, a PE ratio of 9.30, a P/E/G ratio of 7.56 and a beta of 0.75. The business has a 50 day moving average of $100.55 and a 200-day moving average of $105.83. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.25.

Camden Property Trust (NYSE:CPT) last announced its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.02. The firm had revenue of $381.06 million for the quarter, compared to the consensus estimate of $384.88 million. Camden Property Trust had a net margin of 20.80% and a return on equity of 7.66%. The firm’s revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.70 earnings per share. Equities research analysts predict 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 paid a $1.06 dividend. This represents a $4.24 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Wednesday, September 30th. Camden Property Trust’s payout ratio is currently 140.40%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Park Avenue Securities LLC raised its position in shares of Camden Property Trust by 4.0% in the 3rd quarter. Park Avenue Securities LLC now owns 2,617 shares of the real estate investment trust’s stock valued at $253,000 after purchasing an additional 101 shares in the last quarter. Lido Advisors LLC grew its holdings in Camden Property Trust by 4.5% during the 1st quarter. Lido Advisors LLC now owns 2,904 shares of the real estate investment trust’s stock valued at $286,000 after buying an additional 124 shares in the last quarter. William Blair Investment Management LLC grew its position in Camden Property Trust by 5.0% during the 3rd quarter. William Blair Investment Management LLC now owns 2,791 shares of the real estate investment trust’s stock worth $270,000 after purchasing an additional 132 shares during the period. James T. Borello RIA boosted its holdings in Camden Property Trust by 76.3% in the third quarter. James T. Borello RIA now owns 409 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 177 shares in the last quarter. Finally, IAG Wealth Partners LLC raised its position in shares of Camden Property Trust by 87.2% in the 3rd quarter. IAG Wealth Partners LLC now owns 468 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 218 shares during the period. 97.22% of the stock is owned by hedge funds and other institutional investors.

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.