KeyCorp Analysts Lift Earnings Estimates for Camden Property Trust (CPT)
Camden Property Trust (NYSE:CPT) – Stock analysts at KeyCorp raised their FY2017 EPS estimates for shares of Camden Property Trust in a note issued to investors on Monday. KeyCorp analyst A. Wurschmidt now expects that the real estate investment trust will post earnings of $4.61 per share for the year, up from their previous estimate of $4.60. KeyCorp currently has a “Overweight” rating and a $93.00 price target on the stock. KeyCorp also issued estimates for Camden Property Trust’s FY2018 earnings at $4.82 EPS.
Camden Property Trust (NYSE:CPT) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. Camden Property Trust had a net margin of 46.10% and a return on equity of 13.17%. The firm had revenue of $222.40 million during the quarter, compared to analyst estimates of $222.44 million. During the same quarter last year, the business earned $1.15 EPS. The company’s revenue was up .4% compared to the same quarter last year.
CPT has been the subject of several other research reports. Royal Bank Of Canada boosted their price objective on Camden Property Trust from $91.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. BidaskClub upgraded Camden Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Evercore ISI boosted their price objective on Camden Property Trust from $87.00 to $88.00 and gave the company an “in-line” rating in a research report on Wednesday, April 19th. Barclays PLC reiterated an “equal weight” rating and issued a $85.00 price objective (up previously from $84.00) on shares of Camden Property Trust in a research report on Wednesday, April 19th. Finally, BMO Capital Markets set a $81.00 price objective on Camden Property Trust and gave the company a “hold” rating in a research report on Thursday, May 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Camden Property Trust has an average rating of “Hold” and an average target price of $88.42.
Camden Property Trust (NYSE CPT) opened at 90.17 on Tuesday. The firm’s 50-day moving average is $87.70 and its 200 day moving average is $84.07. Camden Property Trust has a 12-month low of $75.36 and a 12-month high of $90.83. The company has a market cap of $7.90 billion, a price-to-earnings ratio of 20.17 and a beta of 0.37.
Several large investors have recently added to or reduced their stakes in CPT. YorkBridge Wealth Partners LLC boosted its stake in Camden Property Trust by 6.1% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,171 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 67 shares during the period. Perigon Wealth Management LLC acquired a new stake in Camden Property Trust during the first quarter valued at approximately $110,000. Assetmark Inc. boosted its stake in Camden Property Trust by 478.5% in the first quarter. Assetmark Inc. now owns 1,695 shares of the real estate investment trust’s stock valued at $136,000 after buying an additional 1,402 shares during the period. Founders Capital Management acquired a new stake in Camden Property Trust during the first quarter valued at approximately $140,000. Finally, Mn Services Vermogensbeheer B.V. boosted 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 during the period. 94.78% of the stock is currently owned by hedge funds and other institutional investors.
In other news, COO H Malcolm Stewart sold 11,174 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $89.75, for a total value of $1,002,866.50. Following the sale, the chief operating officer now directly owns 253,456 shares of the company’s stock, valued at $22,747,676. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Alexander J. Jessett sold 11,788 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $89.81, for a total value of $1,058,680.28. Following the completion of the sale, the executive vice president now directly owns 56,783 shares in the company, valued at $5,099,681.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 120,811 shares of company stock worth $10,812,185. 4.70% of the stock is owned by insiders.
The company also recently declared 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 of this dividend was Wednesday, June 28th. This represents a $3.00 annualized dividend and a yield of 3.33%. Camden Property Trust’s payout ratio is 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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