Brokers Issue Forecasts for Camden Property Trust’s FY2017 Earnings (CPT)
Camden Property Trust (NYSE:CPT) – KeyCorp boosted their FY2017 earnings per share (EPS) estimates for Camden Property Trust in a research note issued on Monday. KeyCorp analyst A. Wurschmidt now forecasts that the real estate investment trust will post earnings of $4.61 per share for the year, up from their prior estimate of $4.60. KeyCorp currently has a “Overweight” rating and a $93.00 target price on the stock. KeyCorp also issued estimates for Camden Property Trust’s FY2018 earnings at $4.82 EPS.
Camden Property Trust (NYSE:CPT) last issued its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $222.40 million for the quarter, compared to analysts’ expectations of $222.44 million. Camden Property Trust had a return on equity of 13.17% and a net margin of 46.10%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same period last year, the firm earned $1.15 EPS.
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Other analysts have also recently issued research reports about the stock. Royal Bank Of Canada restated a “buy” rating on shares of Camden Property Trust in a research report on Monday, May 15th. BidaskClub upgraded Camden Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. BMO Capital Markets upgraded Camden Property Trust from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $81.00 to $89.00 in a report on Thursday, May 25th. They noted that the move was a valuation call. Evercore ISI increased their target price on Camden Property Trust from $87.00 to $88.00 and gave the stock an “in-line” rating in a report on Wednesday, April 19th. Finally, Barclays PLC restated an “equal weight” rating and issued a $85.00 price objective (up previously from $84.00) on shares of Camden Property Trust in a report on Wednesday, April 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $88.42.
Camden Property Trust (CPT) opened at 89.48 on Tuesday. The company has a 50 day moving average price of $87.76 and a 200-day moving average price of $84.12. The firm has a market capitalization of $7.84 billion, a PE ratio of 20.02 and a beta of 0.37. Camden Property Trust has a one year low of $75.36 and a one year high of $90.83.
A number of large investors have recently modified their holdings of the company. Breton Hill Capital Ltd. boosted its position in Camden Property Trust by 4.1% in the first quarter. Breton Hill Capital Ltd. now owns 113,509 shares of the real estate investment trust’s stock worth $9,133,000 after buying an additional 4,519 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Camden Property Trust by 31.8% in the first quarter. Russell Investments Group Ltd. now owns 510,173 shares of the real estate investment trust’s stock worth $41,047,000 after buying an additional 123,027 shares during the last quarter. Mesirow Financial Investment Management Equity Management acquired a new stake in shares of Camden Property Trust during the first quarter worth approximately $1,311,000. ProShare Advisors LLC boosted its stake in shares of Camden Property Trust by 52.3% in the first quarter. ProShare Advisors LLC now owns 48,171 shares of the real estate investment trust’s stock worth $2,515,000 after buying an additional 16,540 shares during the last quarter. Finally, First Manhattan Co. boosted its stake in shares of Camden Property Trust by 2.0% in the first quarter. First Manhattan Co. now owns 51,165 shares of the real estate investment trust’s stock worth $4,284,000 after buying an additional 1,000 shares during the last quarter. 94.78% of the stock is owned by institutional investors and hedge funds.
In other Camden Property Trust news, EVP William W. Sengelmann sold 763 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $6,447,999.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO H Malcolm Stewart sold 11,174 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $89.75, for a total transaction of $1,002,866.50. Following the completion of the sale, the chief operating officer now directly owns 253,456 shares of the company’s stock, valued at $22,747,676. The disclosure for this sale can be found here. Insiders have sold 120,811 shares of company stock worth $10,812,185 in the last quarter. Company insiders own 4.70% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were issued a dividend of $0.75 per share. The ex-dividend date was Wednesday, June 28th. This represents a $3.00 annualized dividend and a dividend yield of 3.35%. Camden Property Trust’s dividend payout ratio is currently 67.11%.
Camden Property Trust Company Profile
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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