Analysts Expect Camden Property Trust (CPT) Will Announce Quarterly Sales of $225.79 Million
Equities analysts expect that Camden Property Trust (NYSE:CPT) will announce $225.79 million in sales for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Camden Property Trust’s earnings, with the highest sales estimate coming in at $227.66 million and the lowest estimate coming in at $224.50 million. Camden Property Trust posted sales of $220.24 million in the same quarter last year, which would indicate 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.
According to Zacks, analysts expect that Camden Property Trust will report full-year sales of $225.79 million for the current fiscal year, with estimates ranging from $892.53 million to $899.28 million. For the next fiscal year, analysts anticipate that the business will report sales of $942.07 million per share, with estimates ranging from $913.73 million to $984.99 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Camden Property Trust.
Camden Property Trust (NYSE:CPT) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $1.15 EPS for the quarter, beating 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 business 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 company posted $1.15 earnings per share. Camden Property Trust’s revenue was up .4% compared to the same quarter last year.
CPT has been the topic of a number of research reports. Royal Bank Of Canada restated a “buy” rating and issued a $91.00 price objective on shares of Camden Property Trust in a research note on Sunday, July 16th. Barclays PLC boosted 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. Deutsche Bank AG lifted their target price on Camden Property Trust from $84.00 to $85.00 and gave the company a “hold” rating in a report on Friday, August 18th. Stifel Nicolaus assumed coverage on Camden Property Trust in a report on Friday, September 1st. They set a “buy” rating and a $99.00 target price for the company. Finally, Sandler O’Neill raised 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 report on Tuesday, September 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $92.06.
In other Camden Property Trust news, EVP William W. Sengelmann sold 763 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $89.76, for a total value of $68,486.88. Following the completion of the sale, the executive vice president now owns 71,836 shares in the company, valued at $6,447,999.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO H Malcolm Stewart sold 11,174 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $89.75, for a total value of $1,002,866.50. Following the completion of the sale, the chief operating officer now owns 253,456 shares of the company’s stock, valued at approximately $22,747,676. The disclosure for this sale can be found here. Insiders sold 118,584 shares of company stock valued at $10,618,035 in the last quarter. Corporate insiders own 4.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CPT. YorkBridge Wealth Partners LLC lifted its position 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 purchasing an additional 67 shares during the last quarter. Perigon Wealth Management LLC bought a new stake in Camden Property Trust in the first quarter valued at approximately $110,000. Eqis Capital Management Inc. bought a new stake in Camden Property Trust in the second quarter valued at approximately $201,000. Sawtooth Solutions LLC lifted its position in Camden Property Trust by 2.7% in the second quarter. Sawtooth Solutions LLC now owns 2,701 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 72 shares during the last quarter. Finally, Koch Industries Inc. bought a new stake in Camden Property Trust in the second quarter valued at approximately $236,000. Hedge funds and other institutional investors own 90.44% of the company’s stock.
Camden Property Trust (NYSE:CPT) opened at 92.26 on Monday. The firm has a market capitalization of $8.09 billion, a P/E ratio of 20.64 and a beta of 0.41. Camden Property Trust has a 1-year low of $75.36 and a 1-year high of $96.39. The company has a 50 day moving average of $92.96 and a 200 day moving average of $87.52.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 17th. Shareholders of record on Friday, September 29th were given a $0.75 dividend. The ex-dividend date was Thursday, September 28th. This represents a $3.00 annualized dividend and a yield of 3.25%. Camden Property Trust’s 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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