Camden Property Trust (NYSE:CPT) Shares Cross Below 50-Day Moving Average – What’s Next?

Camden Property Trust (NYSE:CPT)’s share price passed 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.

Key Stories Impacting Camden Property Trust

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $114.00 target price on shares of Camden Property Trust in a report on Monday, July 20th. Morgan Stanley reduced their price target on Camden Property Trust from $120.00 to $118.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 12th. Cantor Fitzgerald boosted their price target on shares of Camden Property Trust from $102.00 to $111.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Wells Fargo & Company dropped 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 report on Monday, October 19th. Finally, Barclays reduced their target price 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. Three equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $111.62.

Camden Property Trust Price Performance

The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.25. The company has a market cap of $10.04 billion, a PE ratio of 9.30, a P/E/G ratio of 7.39 and a beta of 0.75. The stock has a 50-day simple moving average of $100.55 and a 200 day simple moving average of $105.83.

Camden Property Trust (NYSE:CPT) last announced its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported $1.71 EPS for the quarter, beating the consensus estimate of $1.69 by $0.02. The business 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 company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.70 EPS. Equities analysts expect that Camden Property Trust will post 6.75 EPS for the current year.

Camden Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th were given a $1.06 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $4.24 dividend on an annualized basis and a yield of 4.2%. Camden Property Trust’s dividend payout ratio is presently 140.40%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Maverick Capital Ltd. lifted its holdings in shares of Camden Property Trust by 1.6% in the 1st quarter. Maverick Capital Ltd. now owns 1,867,866 shares of the real estate investment trust’s stock worth $182,416,000 after acquiring an additional 30,076 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Camden Property Trust by 2.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,598,671 shares of the real estate investment trust’s stock valued at $156,128,000 after purchasing an additional 37,456 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Camden Property Trust by 120.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,463,966 shares of the real estate investment trust’s stock valued at $141,609,000 after purchasing an additional 800,168 shares during the last quarter. Jennison Associates LLC raised its position in Camden Property Trust by 100.2% in the first quarter. Jennison Associates LLC now owns 1,206,854 shares of the real estate investment trust’s stock valued at $117,861,000 after purchasing an additional 603,997 shares during the period. Finally, Aew Capital Management Inc. purchased a new stake in Camden Property Trust in the third quarter valued at approximately $85,702,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Camden Property Trust Company Profile

Camden Property Trust is a real estate investment trust that owns, develops, acquires and manages apartment communities. Its residential properties serve renters in markets across the United States, with a focus on major metropolitan areas.

Founded in 1982 and headquartered in Houston, Texas, Camden has grown into a multifamily housing operator. Its services include leasing apartments and managing the day-to-day operations of its communities.