Brokerages Expect Camden Property Trust (CPT) Will Post Quarterly Sales of $222.71 Million
Equities analysts expect Camden Property Trust (NYSE:CPT) to announce sales of $222.71 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Camden Property Trust’s earnings. The highest sales estimate is $223.96 million and the lowest is $220.89 million. Camden Property Trust posted sales of $221.48 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.6%. The company is scheduled to issue its next earnings results after the market closes on Thursday, July 27th.
On average, analysts expect that Camden Property Trust will report full-year sales of $222.71 million for the current financial year, with estimates ranging from $892.01 million to $901.37 million. For the next fiscal year, analysts expect that the business will post sales of $934.47 million per share, with estimates ranging from $917.34 million to $948.33 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Camden Property Trust.
Camden Property Trust (NYSE:CPT) last issued its quarterly earnings data on Thursday, May 4th. The real estate investment trust reported $1.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.10 by $0.01. The business had revenue of $219.50 million during the quarter, compared to the consensus estimate of $218.19 million. Camden Property Trust had a return on equity of 13.94% and a net margin of 92.55%. Camden Property Trust’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.20 earnings per share.
A number of research firms have recently commented on CPT. Barclays PLC upped their target price on Camden Property Trust from $85.00 to $86.00 and gave the company an “equal weight” rating in a research note on Tuesday. Royal Bank Of Canada reaffirmed a “buy” rating and set a $91.00 target price on shares of Camden Property Trust in a research note on Sunday, July 16th. BMO Capital Markets raised Camden Property Trust from a “market perform” rating to an “outperform” rating and upped their target price for the company from $81.00 to $89.00 in a research note on Thursday, May 25th. They noted that the move was a valuation call. BidaskClub raised Camden Property Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, Evercore ISI raised Camden Property Trust from an “in-line” rating to an “outperform” rating and upped their target price for the company from $87.00 to $90.00 in a research note on Thursday, May 18th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $88.43.
Shares of Camden Property Trust (CPT) traded up 0.84% during midday trading on Friday, hitting $89.10. The stock had a trading volume of 710,178 shares. The company’s 50 day moving average is $86.59 and its 200 day moving average is $83.34. Camden Property Trust has a 52-week low of $75.36 and a 52-week high of $90.83. The company has a market cap of $7.81 billion, a PE ratio of 9.94 and a beta of 0.37.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were paid a $0.75 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $3.00 annualized dividend and a yield of 3.37%. Camden Property Trust’s dividend payout ratio (DPR) is currently 33.48%.
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In related news, Director William F. Paulsen sold 2,227 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $87.18, for a total value of $194,149.86. Following the transaction, the director now owns 14,284 shares of the company’s stock, valued at $1,245,279.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.70% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Allianz Asset Management AG boosted its position in shares of Camden Property Trust by 11.8% in the fourth quarter. Allianz Asset Management AG now owns 8,839 shares of the real estate investment trust’s stock valued at $743,000 after buying an additional 935 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Camden Property Trust during the fourth quarter valued at about $647,000. GSA Capital Partners LLP purchased a new position in shares of Camden Property Trust during the fourth quarter valued at about $385,000. Lincluden Management Ltd. boosted its position in shares of Camden Property Trust by 54.1% in the fourth quarter. Lincluden Management Ltd. now owns 57,610 shares of the real estate investment trust’s stock valued at $4,843,000 after buying an additional 20,225 shares during the period. Finally, Quadrature Capital Ltd purchased a new position in shares of Camden Property Trust during the fourth quarter valued at about $1,734,000. 91.61% of the stock is currently owned by institutional investors.
About Camden Property Trust
Camden Property Trust is a real estate investment trust (REIT). The Company is engaged in the ownership, management, development, redevelopment, acquisition and construction of multifamily apartment communities. As of December 31, 2016, the Company owned interests in, operated, or were developing 159 multifamily properties, which consisted of 55,366 apartment homes across the United States.
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