$225.79 Million in Sales Expected for Camden Property Trust (CPT) This Quarter
Brokerages expect Camden Property Trust (NYSE:CPT) to report sales of $225.79 million for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Camden Property Trust’s earnings, with estimates ranging from $224.50 million to $227.66 million. Camden Property Trust posted sales of $220.24 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.5%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Thursday, October 26th.
On average, analysts expect that Camden Property Trust will report full-year sales of $225.79 million for the current year, with estimates ranging from $892.53 million to $899.28 million. For the next financial year, analysts forecast that the company will report sales of $942.07 million per share, with estimates ranging from $913.73 million to $984.99 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Camden Property Trust.
Camden Property Trust (NYSE:CPT) last issued its earnings results on Thursday, July 27th. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The business had revenue of $222.40 million during the quarter, compared to analysts’ expectations of $222.44 million. Camden Property Trust had a net margin of 46.10% and a return on equity of 13.17%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.15 EPS.
A number of analysts have recently weighed in on the stock. Royal Bank Of Canada reissued a “buy” rating and set a $91.00 price target on shares of Camden Property Trust in a research report on Sunday, July 16th. KeyCorp upgraded shares of Camden Property Trust from a “sector weight” rating to an “overweight” rating and set a $93.00 price objective on the stock in a research note on Tuesday, June 13th. They noted that the move was a valuation call. Sandler O’Neill raised shares of Camden Property Trust from a “hold” rating to a “buy” rating and raised their price objective for the stock from $93.00 to $105.00 in a report on Tuesday, September 5th. BidaskClub raised shares of Camden Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, Stifel Nicolaus started coverage on shares of Camden Property Trust in a research report on Friday, September 1st. They issued a “buy” rating and a $99.00 target price for the company. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. Camden Property Trust currently has an average rating of “Hold” and an average target price of $91.87.
Shares of Camden Property Trust (NYSE CPT) traded up 0.87% during midday trading on Wednesday, reaching $91.88. 89,893 shares of the company traded hands. The company has a 50 day moving average of $91.68 and a 200 day moving average of $86.48. Camden Property Trust has a 12 month low of $75.36 and a 12 month high of $96.39. The firm has a market capitalization of $8.05 billion, a P/E ratio of 20.55 and a beta of 0.41.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Friday, September 29th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Thursday, September 28th. Camden Property Trust’s dividend payout ratio (DPR) is 67.11%.
In other Camden Property Trust news, President D Keith Oden sold 86,540 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $89.43, for a total value of $7,739,272.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP William W. Sengelmann sold 5,085 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $90.15, for a total value of $458,412.75. Following the completion of the sale, the executive vice president now directly owns 71,836 shares in the company, valued at $6,476,015.40. The disclosure for this sale can be found here. Insiders have sold a total of 118,584 shares of company stock valued at $10,618,035 in the last 90 days. Insiders own 4.70% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. YorkBridge Wealth Partners LLC grew its position in shares of Camden Property Trust by 6.1% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,171 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 67 shares during the last quarter. Perigon Wealth Management LLC acquired a new stake in shares of Camden Property Trust in the 1st quarter worth about $110,000. Laurion Capital Management LP acquired a new stake in shares of Camden Property Trust in the 1st quarter worth about $201,000. Eqis Capital Management Inc. acquired a new stake in shares of Camden Property Trust in the 2nd quarter worth about $201,000. Finally, Sawtooth Solutions LLC increased its holdings in shares of Camden Property Trust by 2.7% in the 2nd quarter. Sawtooth Solutions LLC now owns 2,701 shares of the real estate investment trust’s stock worth $231,000 after acquiring an additional 72 shares during the period. 90.58% of the stock is owned by institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Camden Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Camden Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.