FY2016 EPS Estimates for Camden Property Trust (CPT) Boosted by Capital One Financial Corp.
Camden Property Trust (NYSE:CPT) – Capital One Financial Corp. lifted their FY2016 earnings per share (EPS) estimates for Camden Property Trust in a research report issued on Monday. Capital One Financial Corp. analyst T. Lesnick now expects that the brokerage will post earnings per share of $4.56 for the year, up from their prior forecast of $4.55.
Other analysts also recently issued research reports about the stock. RBC Capital Markets reaffirmed a “buy” rating on shares of Camden Property Trust in a research report on Monday, August 29th. Zacks Investment Research raised shares of Camden Property Trust from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a research report on Monday, July 18th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $84.00 price objective (up previously from $83.00) on shares of Camden Property Trust in a research report on Monday, July 18th. Robert W. Baird cut Camden Property Trust from an “outperform” rating to a “neutral” rating and increased their target price for the company from $83.00 to $88.00 in a research note on Wednesday, August 10th. Finally, Citigroup Inc. increased their target price on Camden Property Trust from $87.00 to $88.00 and gave the company a “neutral” rating in a research note on Thursday, August 4th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $87.85.
Camden Property Trust (NYSE:CPT) opened at 84.82 on Wednesday. The firm’s 50-day moving average is $86.76 and its 200 day moving average is $85.15. Camden Property Trust has a 12-month low of $67.27 and a 12-month high of $90.91. The stock has a market capitalization of $7.41 billion, a P/E ratio of 13.10 and a beta of 0.65.
Camden Property Trust (NYSE:CPT) last posted its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.15. The business had revenue of $221.50 million for the quarter, compared to the consensus estimate of $220.32 million. Camden Property Trust had a net margin of 65.37% and a return on equity of 6.89%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $1.12 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Wednesday, September 28th. Camden Property Trust’s payout ratio is 46.44%.
In other news, EVP William W. Sengelmann sold 5,878 shares of the firm’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $85.56, for a total transaction of $502,921.68. Following the transaction, the executive vice president now directly owns 78,689 shares of the company’s stock, valued at $6,732,630.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO H Malcolm Stewart sold 11,122 shares of the firm’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $89.63, for a total value of $996,864.86. Following the transaction, the chief operating officer now directly owns 252,526 shares in the company, valued at $22,633,905.38. The disclosure for this sale can be found here. 5.00% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Investment Counselors of Maryland LLC raised its position in shares of Camden Property Trust by 6.4% in the second quarter. Investment Counselors of Maryland LLC now owns 1,660 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 100 shares during the period. Tower Research Capital LLC TRC acquired a new position in shares of Camden Property Trust during the second quarter worth approximately $187,000. Bard Associates Inc. acquired a new position in shares of Camden Property Trust during the second quarter worth approximately $204,000. Silvercrest Asset Management Group LLC acquired a new position in shares of Camden Property Trust during the first quarter worth approximately $212,000. Finally, Advisor Group Inc. acquired a new position in shares of Camden Property Trust during the second quarter worth approximately $235,000. 96.55% of the stock is currently owned by institutional investors.
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. The Company operates in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities segment.
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