SunTrust Banks, Inc. Reaffirms “Hold” Rating for Camden Property Trust (CPT)
Camden Property Trust (NYSE:CPT)‘s stock had its “hold” rating reaffirmed by SunTrust Banks, Inc. in a research note issued on Wednesday. They presently have a $93.00 price objective on the real estate investment trust’s stock. SunTrust Banks, Inc.’s price target points to a potential upside of 0.81% from the stock’s previous close. SunTrust Banks also issued estimates for Camden Property Trust’s Q3 2017 earnings at $1.13 EPS and FY2018 earnings at $4.95 EPS.
Other research analysts have also issued research reports about the company. Royal Bank Of Canada reissued a “buy” rating and set a $91.00 price objective on shares of Camden Property Trust in a report on Sunday, July 16th. Barclays PLC raised their price objective on Camden Property Trust from $85.00 to $86.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 18th. Robert W. Baird restated a “neutral” rating and issued a $96.00 target price (up from $92.00) on shares of Camden Property Trust in a report on Friday, September 22nd. UBS AG restated a “sell” rating and issued a $86.00 target price (up from $80.00) on shares of Camden Property Trust in a report on Thursday, September 14th. Finally, KeyCorp raised Camden Property Trust from a “sector weight” rating to an “overweight” rating and set a $93.00 target price for the company in a research report on Tuesday, June 13th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $91.94.
Shares of Camden Property Trust (CPT) traded up 1.27% during midday trading on Wednesday, reaching $92.25. The company’s stock had a trading volume of 671,556 shares. Camden Property Trust has a 52 week low of $75.36 and a 52 week high of $96.39. The stock has a 50-day moving average price of $91.68 and a 200 day moving average price of $86.48. The stock has a market capitalization of $8.09 billion, a PE ratio of 20.64 and a beta of 0.41.
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 Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $222.44 million. During the same period in the prior year, the business posted $1.15 earnings per share. The business’s quarterly revenue was up .4% on a year-over-year basis. Equities analysts forecast that Camden Property Trust will post $1.73 earnings per share for the current year.
In other Camden Property Trust news, EVP William W. Sengelmann sold 5,085 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $90.15, for a total value of $458,412.75. Following the sale, the executive vice president now directly owns 71,836 shares in the company, valued at approximately $6,476,015.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President D Keith Oden sold 86,540 shares of the firm’s stock in a transaction 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. Over the last quarter, insiders have sold 118,584 shares of company stock valued at $10,618,035. Corporate insiders own 4.70% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in CPT. Eqis Capital Management Inc. lifted its stake in shares of Camden Property Trust by 79.0% in the third quarter. Eqis Capital Management Inc. now owns 4,211 shares of the real estate investment trust’s stock valued at $385,000 after buying an additional 1,859 shares during the period. Perigon Wealth Management LLC grew its position in Camden Property Trust by 59.3% during the second quarter. Perigon Wealth Management LLC now owns 2,150 shares of the real estate investment trust’s stock worth $185,000 after buying an additional 800 shares in the last quarter. Phocas Financial Corp. grew its position in Camden Property Trust by 3.4% during the second quarter. Phocas Financial Corp. now owns 5,619 shares of the real estate investment trust’s stock worth $480,000 after buying an additional 183 shares in the last quarter. Koch Industries Inc. acquired a new stake in Camden Property Trust during the second quarter worth about $236,000. Finally, Ameritas Investment Partners Inc. grew its position in Camden Property Trust by 1.0% during the second quarter. Ameritas Investment Partners Inc. now owns 42,327 shares of the real estate investment trust’s stock worth $3,619,000 after buying an additional 426 shares in the last quarter. 90.58% of the stock is owned by institutional investors and hedge funds.
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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