Camden Property Trust (CPT) Releases Quarterly Earnings Results, Hits Estimates
Camden Property Trust (NYSE:CPT) posted its quarterly earnings results on Thursday. The company reported $1.05 earnings per share for the quarter, meeting the analysts’ consensus estimate of $1.05, Stock Ratings News reports. The company had revenue of $208.94 million for the quarter, compared to the consensus estimate of $208.94 million. During the same quarter last year, the company posted $1.02 earnings per share. Camden Property Trust’s revenue was up 7.2% compared to the same quarter last year. Camden Property Trust updated its Q3 guidance to $1.04-1.08 EPS and its FY14 guidance to $4.20-4.30 EPS.
Several analysts have recently commented on the stock. Analysts at Barclays raised their price target on shares of Camden Property Trust from $75.00 to $79.00 in a research note on Monday, July 21st. They now have an “overweight” rating on the stock. On a related note, analysts at Deutsche Bank raised their price target on shares of Camden Property Trust from $65.00 to $71.00 in a research note on Wednesday, July 9th. They now have a “hold” rating on the stock. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Camden Property Trust from $73.00 to $72.00 in a research note on Friday, June 20th. They now have a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $60.64.
Camden Property Trust (NYSE:CPT) traded down 2.11% on Thursday, hitting $72.36. The stock had a trading volume of 865,637 shares. Camden Property Trust has a 1-year low of $56.09 and a 1-year high of $74.12. The stock has a 50-day moving average of $71.65 and a 200-day moving average of $68.02. The company has a market cap of $6.192 billion and a price-to-earnings ratio of 21.12.
Camden Property Trust is a real estate investment trust. The Company is engaged in ownership, management, development, acquisition, and construction of multi-family apartment communities.
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