Camden Property Trust Expected to Post Q4 2017 Earnings of $1.17 Per Share (CPT)
Camden Property Trust (NYSE:CPT) – Equities researchers at DA Davidson raised their Q4 2017 earnings estimates for shares of Camden Property Trust in a research note issued to investors on Monday. DA Davidson analyst J. Lykins now anticipates that the real estate investment trust will post earnings per share of $1.17 for the quarter, up from their prior estimate of $1.14. DA Davidson also issued estimates for Camden Property Trust’s Q1 2018 earnings at $1.18 EPS, Q3 2018 earnings at $1.23 EPS, Q4 2018 earnings at $1.23 EPS and FY2018 earnings at $4.84 EPS.
CPT has been the subject of several other reports. SunTrust Banks, Inc. reissued a “hold” rating and set a $93.00 price objective on shares of Camden Property Trust in a report on Wednesday, October 4th. Mizuho reaffirmed a “hold” rating and set a $90.00 target price on shares of Camden Property Trust in a report on Sunday, October 15th. BMO Capital Markets reaffirmed a “buy” rating and set a $95.00 target price on shares of Camden Property Trust in a report on Friday, September 8th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $91.00 target price on shares of Camden Property Trust in a report on Sunday, July 16th. Finally, Barclays PLC upped their target price on shares of Camden Property Trust from $85.00 to $86.00 and gave the company an “equal weight” rating in a report 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 company’s stock. The stock has an average rating of “Hold” and an average target price of $92.06.
Shares of Camden Property Trust (CPT) traded down 0.36% during midday trading on Wednesday, hitting $90.91. 102,775 shares of the stock traded hands. The firm has a market capitalization of $7.97 billion, a PE ratio of 20.34 and a beta of 0.41. Camden Property Trust has a 52 week low of $75.36 and a 52 week high of $96.39. The company’s 50-day moving average is $92.60 and its 200 day moving average is $88.07.
Camden Property Trust (NYSE:CPT) last issued its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by ($0.03). Camden Property Trust had a return on equity of 4.71% and a net margin of 16.81%. The company had revenue of $228.18 million for the quarter, compared to analysts’ expectations of $226.41 million. During the same quarter in the previous year, the business earned $1.13 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis.
A number of hedge funds have recently bought and sold shares of CPT. YorkBridge Wealth Partners LLC increased its stake in Camden Property Trust by 6.1% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,171 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 67 shares during the period. Penserra Capital Management LLC purchased a new position in Camden Property Trust during the 3rd quarter valued at about $110,000. Perigon Wealth Management LLC increased its position in Camden Property Trust by 59.3% during the 2nd quarter. Perigon Wealth Management LLC now owns 2,150 shares of the real estate investment trust’s stock valued at $185,000 after purchasing an additional 800 shares during the period. Eqis Capital Management Inc. purchased a new position in Camden Property Trust during the 2nd quarter valued at about $201,000. Finally, Sawtooth Solutions LLC increased its position in Camden Property Trust by 2.7% during the 2nd 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 period. 90.78% of the stock is currently owned by institutional investors.
In related news, COO H Malcolm Stewart sold 11,174 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now owns 253,456 shares of the company’s stock, valued at approximately $22,747,676. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President D Keith Oden sold 86,540 shares of the firm’s stock in a transaction dated 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. Insiders have sold 118,584 shares of company stock valued at $10,618,035 in the last quarter. 4.70% of the stock is owned by company insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 17th. Shareholders of record on Friday, September 29th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $3.00 annualized dividend and a yield of 3.29%. Camden Property Trust’s dividend payout ratio (DPR) is currently 182.93%.
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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