Camden Property Trust (CPT) Expected to Announce Quarterly Sales of $225.33 Million
Analysts expect Camden Property Trust (NYSE:CPT) to report $225.33 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Camden Property Trust’s earnings, with estimates ranging from $223.08 million to $227.56 million. Camden Property Trust posted sales of $220.24 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.3%. The business is scheduled to report its next quarterly earnings results on Thursday, October 26th.
On average, analysts expect that Camden Property Trust will report full year sales of $225.33 million for the current year, with estimates ranging from $892.01 million to $900.31 million. For the next year, analysts anticipate that the company will post sales of $938.11 million per share, with estimates ranging from $913.73 million to $984.99 million. Zacks’ sales averages are an average based on a survey of analysts that follow Camden Property Trust.
Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $1.15 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 analysts’ expectations of $222.44 million. During the same quarter in the prior year, the firm earned $1.15 EPS. Camden Property Trust’s quarterly revenue was up .4% on a year-over-year basis.
Several equities analysts recently issued reports on CPT shares. BMO Capital Markets reissued a “buy” rating and set a $95.00 price target on shares of Camden Property Trust in a report on Friday, September 8th. Royal Bank Of Canada reissued a “buy” rating and set a $91.00 price target on shares of Camden Property Trust in a report on Sunday, July 16th. Barclays PLC lifted their price target 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. Deutsche Bank AG lifted their price target on shares of Camden Property Trust from $84.00 to $85.00 and gave the company a “hold” rating in a report on Friday, August 18th. Finally, Sandler O’Neill raised shares of Camden Property Trust from a “hold” rating to a “buy” rating and lifted their price target for the company from $93.00 to $105.00 in a report on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $91.07.
Camden Property Trust (CPT) traded up 0.48% on Friday, reaching $94.20. 930,755 shares of the company’s stock traded hands. The stock has a market capitalization of $8.26 billion, a PE ratio of 21.07 and a beta of 0.38. Camden Property Trust has a 52-week low of $75.36 and a 52-week high of $96.39. The firm’s 50-day moving average is $90.69 and its 200 day moving average is $85.43.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Friday, September 29th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Thursday, September 28th. Camden Property Trust’s payout ratio is presently 67.11%.
In other news, COO H Malcolm Stewart sold 11,174 shares of Camden Property Trust stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $89.75, for a total transaction of $1,002,866.50. Following the completion of the sale, the chief operating officer now owns 253,456 shares in the company, valued at approximately $22,747,676. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President D Keith Oden sold 86,540 shares of Camden Property Trust stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $89.43, for a total transaction of $7,739,272.20. The disclosure for this sale can be found here. Insiders sold a total of 118,584 shares of company stock valued at $10,618,035 in the last 90 days. Corporate insiders own 4.70% of the company’s stock.
Large investors have recently modified their holdings of the company. YorkBridge Wealth Partners LLC grew its position in shares of Camden Property Trust by 6.1% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,171 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 67 shares during the period. Perigon Wealth Management LLC acquired a new stake in shares of Camden Property Trust during the 1st quarter worth approximately $110,000. Eqis Capital Management Inc. acquired a new stake in shares of Camden Property Trust during the 2nd quarter worth approximately $201,000. Laurion Capital Management LP acquired a new stake in shares of Camden Property Trust during the 1st quarter worth approximately $201,000. Finally, Sawtooth Solutions LLC grew its position in shares of Camden Property Trust by 2.7% during the 2nd quarter. Sawtooth Solutions LLC now owns 2,701 shares of the real estate investment trust’s stock worth $231,000 after buying an additional 72 shares during the period. Institutional investors own 95.94% of the company’s stock.
Camden Property Trust Company Profile
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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