Camden Property Trust Prepares for Q4 Earnings Announcement
As the market anticipates the earnings reveal, CPT faces expectations for a slight decline.
Valued at a market cap of $12 billion, Camden Property Trust (CPT) is a real estate company focused on owning, managing, developing, redeveloping, acquiring, and constructing multifamily apartment communities. Based in Houston, Texas, Camden is set to release its fiscal Q4 earnings results following the close of the market on Thursday, February 6.
Before this announcement, analysts estimate the real estate investment trust (REIT) will report a Funds From Operations (FFO) of $1.68 per share, a decrease of 2.9% from $1.73 per share in the same quarter last year. Historically, Camden has excelled at beating Wall Street’s FFO estimates, having done so for the past four quarters. In Q3, CPT achieved an adjusted FFO of $1.71, surpassing expectations by 1.8%.
For the fiscal year 2024, projections indicate that CPT will report an Earnings Per Share (EPS) of $6.74, down 1.2% from $6.82 in fiscal 2023. However, there is a slight expected recovery in fiscal 2025, with EPS anticipated to increase marginally to $6.79.
Over the last 52 weeks, Camden Property Trust shares have gained 16.6%. While this performance does not match the S&P 500 Index’s 26.5% increase, it still surpasses the Real Estate Select Sector SPDR Fund’s (XLRE) return of 6.5% during the same period.
When Camden released its Q3 earnings results on October 31, its shares fell by 1.8% the following day due to mixed performance. The reported FFO of $1.71 per share was nearly 1.2% lower than the previous year, though it exceeded Wall Street’s expectations of $1.68. The company’s revenue, however, dipped to $387.2 million—slightly below analysts’ consensus estimates.
The rise in new apartment supply contributed to a downturn in lease rates. Additionally, Camden paused four pre-development projects, citing high construction costs and sluggish rent growth as key issues influencing investor confidence.
Moderate optimism surrounds Camden’s stock among Wall Street analysts. The overall consensus is a “Moderate Buy.” Out of 26 analysts, seven recommend a “Strong Buy,” one suggests “Moderate Buy,” 16 advise “Hold,” and two favor “Strong Sell.”
The average price target for Camden Property Trust stands at $126.91, indicating a potential increase of 12.7% from current levels.
On the date of publication, Neharika Jain did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
