Zacks: Brokerages Anticipate Camden Property Trust (NYSE:CPT) Will Announce Earnings of $1.17 Per Share
Equities analysts forecast that Camden Property Trust (NYSE:CPT) will post earnings per share (EPS) of $1.17 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Camden Property Trust’s earnings. The lowest EPS estimate is $1.16 and the highest is $1.18. Camden Property Trust reported earnings per share of $1.13 in the same quarter last year, which suggests a positive year-over-year growth rate of 3.5%. The company is expected to issue its next earnings results on Thursday, October 26th.
On average, analysts expect that Camden Property Trust will report full-year earnings of $4.59 per share for the current financial year, with EPS estimates ranging from $4.57 to $4.63. For the next year, analysts anticipate that the firm will post earnings of $4.80 per share, with EPS estimates ranging from $4.75 to $4.85. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Camden Property Trust.
Camden Property Trust (NYSE:CPT) last announced its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $222.40 million for the quarter, compared to the consensus estimate of $222.44 million. Camden Property Trust had a net margin of 46.10% and a return on equity of 13.17%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.15 EPS.
Several equities analysts have recently issued reports on CPT shares. BTIG Research upgraded shares of Camden Property Trust from a “neutral” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Monday, April 24th. Royal Bank Of Canada restated a “buy” rating on shares of Camden Property Trust in a report on Monday, May 15th. Barclays PLC upped their price objective on shares of Camden Property Trust from $85.00 to $86.00 and gave the company an “equal weight” rating in a report on Tuesday, July 18th. BidaskClub upgraded shares of Camden Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, BMO Capital Markets set a $81.00 price objective on shares of Camden Property Trust and gave the company a “hold” rating in a report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. Camden Property Trust presently has an average rating of “Hold” and a consensus target price of $88.38.
In related news, Director William F. Paulsen sold 2,227 shares of the company’s 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 sale, the director now owns 14,284 shares in the company, valued at $1,245,279.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.70% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its stake in Camden Property Trust by 31.8% in the first quarter. Russell Investments Group Ltd. now owns 510,173 shares of the real estate investment trust’s stock valued at $41,047,000 after buying an additional 123,027 shares in the last quarter. Mesirow Financial Investment Management Equity Management bought a new stake in Camden Property Trust during the first quarter valued at approximately $1,311,000. ProShare Advisors LLC raised its stake in Camden Property Trust by 52.3% in the first quarter. ProShare Advisors LLC now owns 48,171 shares of the real estate investment trust’s stock valued at $2,515,000 after buying an additional 16,540 shares in the last quarter. First Manhattan Co. raised its stake in Camden Property Trust by 2.0% in the first quarter. First Manhattan Co. now owns 51,165 shares of the real estate investment trust’s stock valued at $4,284,000 after buying an additional 1,000 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its stake in Camden Property Trust by 5.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,333 shares of the real estate investment trust’s stock valued at $176,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.
Shares of Camden Property Trust (NYSE:CPT) traded down 0.117% during mid-day trading on Tuesday, hitting $89.625. 32,403 shares of the stock were exchanged. Camden Property Trust has a 12 month low of $75.36 and a 12 month high of $90.83. The stock’s 50 day moving average is $87.28 and its 200-day moving average is $83.63. The stock has a market cap of $7.86 billion, a PE ratio of 20.050 and a beta of 0.37.
The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were given a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $3.00 dividend on an annualized basis and a yield of 3.34%. Camden Property Trust’s dividend payout ratio is currently 67.11%.
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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