Wall Street analysts predict that Camden Property Trust (NYSE:CPT) will report $228.18 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Camden Property Trust’s earnings, with the highest sales estimate coming in at $230.13 million and the lowest estimate coming in at $227.22 million. Camden Property Trust reported sales of $217.14 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.1%. The business is expected to report its next quarterly earnings report after the market closes on Thursday, February 1st.
According to Zacks, analysts expect that Camden Property Trust will report full-year sales of $228.18 million for the current fiscal year, with estimates ranging from $898.29 million to $901.20 million. For the next year, analysts forecast that the company will report sales of $944.14 million per share, with estimates ranging from $925.37 million to $977.90 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Camden Property Trust.
Camden Property Trust (NYSE:CPT) last posted its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $1.11 EPS for the quarter, missing the Zacks’ 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 business had revenue of $228.18 million for the quarter, compared to analyst estimates of $226.41 million. During the same quarter in the prior year, the company earned $1.13 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis.
In other Camden Property Trust news, Chairman Richard J. Campo sold 379 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $94.44, for a total transaction of $35,792.76. Following the completion of the sale, the chairman now directly owns 338,519 shares in the company, valued at $31,969,734.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Richard J. Campo sold 52,247 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $92.27, for a total transaction of $4,820,830.69. Following the sale, the chairman now owns 344,201 shares of the company’s stock, valued at $31,759,426.27. The disclosure for this sale can be found here. Insiders have sold 126,297 shares of company stock valued at $11,635,108 over the last 90 days. Company insiders own 4.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue lifted its position in Camden Property Trust by 64.6% during the fourth quarter. State of Alaska Department of Revenue now owns 53,940 shares of the real estate investment trust’s stock worth $4,964,000 after acquiring an additional 21,170 shares during the last quarter. Westpac Banking Corp lifted its position in Camden Property Trust by 81.2% during the fourth quarter. Westpac Banking Corp now owns 140,637 shares of the real estate investment trust’s stock worth $12,947,000 after acquiring an additional 63,010 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in Camden Property Trust by 5.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 953,010 shares of the real estate investment trust’s stock worth $87,735,000 after acquiring an additional 53,313 shares during the last quarter. Creative Planning acquired a new stake in Camden Property Trust during the fourth quarter worth approximately $308,000. Finally, Gateway Investment Advisers LLC lifted its position in Camden Property Trust by 24.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 198,789 shares of the real estate investment trust’s stock worth $18,301,000 after acquiring an additional 39,412 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.
Camden Property Trust (NYSE CPT) opened at $84.81 on Friday. Camden Property Trust has a one year low of $78.38 and a one year high of $96.39. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.94 and a current ratio of 1.94. The company has a market cap of $7,850.51, a PE ratio of 51.71, a PEG ratio of 3.28 and a beta of 0.42.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders of record on Friday, December 15th were given a dividend of $0.75 per share. The ex-dividend date was Thursday, December 14th. This represents a $3.00 annualized dividend and a yield of 3.54%. Camden Property Trust’s dividend payout ratio (DPR) is presently 182.93%.
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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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