Camden Property Trust (CPT) Posts Earnings Results, Misses Expectations By $0.03 EPS
Camden Property Trust (NYSE:CPT) issued its quarterly earnings results on Thursday. The real estate investment trust reported $1.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.14 by ($0.03), Bloomberg Earnings reports. Camden Property Trust had a return on equity of 13.17% and a net margin of 46.10%. The firm had revenue of $228.18 million for the quarter, compared to the consensus estimate of $226.41 million. During the same period last year, the company posted $1.13 EPS. The business’s revenue was up 3.6% on a year-over-year basis. Camden Property Trust updated its Q4 guidance to $1.16-1.20 EPS.
Shares of Camden Property Trust (NYSE:CPT) opened at 90.54 on Friday. Camden Property Trust has a 52-week low of $75.36 and a 52-week high of $96.39. The stock’s 50 day moving average is $92.96 and its 200 day moving average is $87.79. The firm has a market capitalization of $7.94 billion, a PE ratio of 20.26 and a beta of 0.41.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 17th. Stockholders of record on Friday, September 29th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Thursday, September 28th. Camden Property Trust’s dividend payout ratio (DPR) is presently 67.11%.
In other news, EVP William W. Sengelmann sold 763 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $89.76, for a total value of $68,486.88. Following the completion of the sale, the executive vice president now directly owns 71,836 shares in the company, valued at approximately $6,447,999.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President D Keith Oden sold 86,540 shares of the company’s stock in a transaction on Monday, August 7th. The shares were 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 90 days, insiders sold 118,584 shares of company stock valued at $10,618,035. Company insiders own 4.70% of the company’s stock.
CPT has been the subject of a number of recent analyst reports. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $93.00 price target on shares of Camden Property Trust in a report on Wednesday, October 4th. Mizuho reissued a “hold” rating and issued a $90.00 price objective on shares of Camden Property Trust in a research note on Sunday, October 15th. BMO Capital Markets reissued a “buy” rating and issued a $95.00 price objective on shares of Camden Property Trust in a research note on Friday, September 8th. Royal Bank Of Canada reissued a “buy” rating and issued a $91.00 price objective on shares of Camden Property Trust in a research note on Sunday, July 16th. Finally, Barclays PLC increased their price objective on shares of 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $92.06.
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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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