Camden Property Trust to Post Q3 2017 Earnings of $1.13 Per Share, SunTrust Banks Forecasts (CPT)
Camden Property Trust (NYSE:CPT) – Equities research analysts at SunTrust Banks reduced their Q3 2017 earnings per share (EPS) estimates for shares of Camden Property Trust in a report issued on Tuesday. SunTrust Banks analyst M. Lewis now anticipates that the real estate investment trust will post earnings of $1.13 per share for the quarter, down from their previous estimate of $1.15. SunTrust Banks also issued estimates for Camden Property Trust’s FY2018 earnings at $4.95 EPS.
Several other research analysts have also weighed in on CPT. Royal Bank Of Canada reiterated a “buy” rating and issued a $91.00 price objective on shares of Camden Property Trust in a research report on Sunday, July 16th. KeyCorp upgraded Camden Property Trust from a “sector weight” rating to an “overweight” rating and set a $93.00 target price on the stock in a research report on Tuesday, June 13th. They noted that the move was a valuation call. Sandler O’Neill upgraded Camden Property Trust from a “hold” rating to a “buy” rating and lifted their target price for the company from $93.00 to $105.00 in a research report on Tuesday, September 5th. BidaskClub upgraded Camden Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Finally, Stifel Nicolaus assumed coverage on Camden Property Trust in a research note on Friday, September 1st. They issued a “buy” rating and a $99.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $91.87.
Shares of Camden Property Trust (NYSE:CPT) opened at 91.09 on Wednesday. Camden Property Trust has a 52 week low of $75.36 and a 52 week high of $96.39. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of 20.38 and a beta of 0.41. The stock’s 50 day moving average is $91.68 and its 200-day moving average is $86.48.
Camden Property Trust (NYSE:CPT) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. Camden Property Trust had a return on equity of 13.17% and a net margin of 46.10%. The business had revenue of $222.40 million during the quarter, compared to the consensus estimate of $222.44 million. During the same period last year, the company earned $1.15 earnings per share. The business’s revenue for the quarter was up .4% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Asset Management Americas Inc. increased its stake in Camden Property Trust by 26.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 402,220 shares of the real estate investment trust’s stock worth $32,363,000 after buying an additional 83,478 shares during the period. Karp Capital Management Corp acquired a new stake in Camden Property Trust during the 1st quarter worth approximately $1,217,000. Parametric Portfolio Associates LLC lifted its holdings in Camden Property Trust by 7.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 104,315 shares of the real estate investment trust’s stock worth $8,393,000 after buying an additional 7,138 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Camden Property Trust by 14.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 3,655 shares of the real estate investment trust’s stock worth $294,000 after buying an additional 471 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in Camden Property Trust by 9.3% during the 1st quarter. Stifel Financial Corp now owns 22,975 shares of the real estate investment trust’s stock worth $1,851,000 after buying an additional 1,962 shares in the last quarter. 90.58% of the stock is owned by institutional investors and hedge funds.
In other news, EVP William W. Sengelmann sold 5,085 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $90.15, for a total transaction of $458,412.75. Following the sale, the executive vice president now owns 71,836 shares of the company’s stock, valued at $6,476,015.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO H Malcolm Stewart sold 11,174 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $89.75, for a total transaction of $1,002,866.50. Following the sale, the chief operating officer now directly owns 253,456 shares in the company, valued at approximately $22,747,676. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 118,584 shares of company stock valued at $10,618,035. 4.70% of the stock is currently owned by corporate insiders.
The company also recently announced 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 3.29%. The ex-dividend date is Thursday, September 28th. 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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