Equities research analysts expect that Camden Property Trust (NYSE:CPT) will announce sales of $252.41 million for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Camden Property Trust’s earnings, with estimates ranging from $250.75 million to $254.94 million. Camden Property Trust reported sales of $237.13 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.4%. The firm is expected to report its next quarterly earnings results after the market closes on Thursday, July 25th.
On average, analysts expect that Camden Property Trust will report full year sales of $1.01 billion for the current fiscal year, with estimates ranging from $1.01 billion to $1.02 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.06 billion, with estimates ranging from $1.03 billion to $1.08 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Camden Property Trust.
Camden Property Trust (NYSE:CPT) last released its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.22. Camden Property Trust had a return on equity of 4.45% and a net margin of 15.98%. The company had revenue of $248.57 million during the quarter, compared to analysts’ expectations of $246.50 million. During the same period last year, the firm posted $1.15 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis.
CPT has been the subject of a number of recent analyst reports. KeyCorp raised their price objective on Camden Property Trust from $98.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Sandler O’Neill cut Camden Property Trust from a “buy” rating to a “hold” rating in a research report on Friday, April 5th. SunTrust Banks raised their price objective on Camden Property Trust to $108.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Barclays reaffirmed a “buy” rating and issued a $108.00 price objective on shares of Camden Property Trust in a research report on Tuesday, April 16th. Finally, Zacks Investment Research cut Camden Property Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, June 25th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $101.53.
CPT opened at $107.43 on Thursday. Camden Property Trust has a 12-month low of $83.67 and a 12-month high of $108.22. The firm has a market capitalization of $10.39 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 3.22 and a beta of 0.45. The company has a 50 day simple moving average of $104.92. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.21 and a current ratio of 0.21.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 17th. Investors of record on Friday, June 28th will be issued a dividend of $0.80 per share. The ex-dividend date is Thursday, June 27th. This represents a $3.20 annualized dividend and a yield of 2.98%. Camden Property Trust’s payout ratio is currently 67.09%.
In other Camden Property Trust news, Chairman Richard J. Campo sold 60,000 shares of Camden Property Trust stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $105.32, for a total value of $6,319,200.00. Following the completion of the transaction, the chairman now directly owns 273,948 shares of the company’s stock, valued at approximately $28,852,203.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William F. Paulsen sold 1,979 shares of Camden Property Trust stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $102.19, for a total value of $202,234.01. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,679 shares of company stock valued at $12,211,588. 3.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Rehmann Capital Advisory Group raised its holdings in Camden Property Trust by 71.7% in the 4th quarter. Rehmann Capital Advisory Group now owns 297 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 124 shares in the last quarter. Icon Wealth Partners LLC acquired a new position in Camden Property Trust in the 1st quarter valued at $52,000. Penserra Capital Management LLC acquired a new position in Camden Property Trust in the 1st quarter valued at $58,000. Fort L.P. acquired a new position in Camden Property Trust in the 4th quarter valued at $93,000. Finally, NumerixS Investment Technologies Inc acquired a new position in Camden Property Trust in the 1st quarter valued at $122,000. 93.17% of the stock is owned by hedge funds and other institutional investors.
Camden Property Trust Company Profile
Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 161 properties containing 55,160 apartment homes across the United States.
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