KeyCorp Weighs in on Camden Property Trust’s Q3 2017 Earnings (CPT)
Camden Property Trust (NYSE:CPT) – Stock analysts at KeyCorp cut their Q3 2017 EPS estimates for Camden Property Trust in a research note issued to investors on Thursday. KeyCorp analyst A. Wurschmidt now forecasts that the real estate investment trust will earn $1.14 per share for the quarter, down from their previous forecast of $1.17. KeyCorp has a “Overweight” rating and a $98.00 price target on the stock. KeyCorp also issued estimates for Camden Property Trust’s FY2018 earnings at $4.89 EPS.
CPT has been the subject of several other research reports. BMO Capital Markets restated a “buy” rating and issued a $95.00 price target on shares of Camden Property Trust in a research note on Friday, September 8th. Royal Bank Of Canada reiterated a “buy” rating and set a $91.00 target price on shares of Camden Property Trust in a research note on Sunday, July 16th. Barclays PLC increased their price target on Camden Property Trust from $85.00 to $86.00 and gave the company an “equal weight” rating in a report on Tuesday, July 18th. Deutsche Bank AG increased their price target on Camden Property Trust from $84.00 to $85.00 and gave the company a “hold” rating in a report on Friday, August 18th. Finally, UBS AG reissued a “sell” rating and set a $86.00 price target (up from $80.00) on shares of Camden Property Trust in a report on Thursday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. Camden Property Trust presently has an average rating of “Hold” and a consensus price target of $91.07.
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Shares of Camden Property Trust (NYSE:CPT) opened at 94.20 on Monday. The firm has a 50-day moving average price of $90.69 and a 200-day moving average price of $85.43. The firm has a market cap of $8.26 billion, a PE ratio of 21.07 and a beta of 0.38. Camden Property Trust has a 52 week low of $75.36 and a 52 week high of $96.39.
Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $222.40 million during the quarter, compared to the consensus estimate of $222.44 million. Camden Property Trust had a return on equity of 13.17% and a net margin of 46.10%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the company earned $1.15 earnings per share.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund raised its position in shares of Camden Property Trust by 4.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 31,988 shares of the real estate investment trust’s stock worth $2,735,000 after purchasing an additional 1,334 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Camden Property Trust by 0.6% during the 2nd quarter. Fisher Asset Management LLC now owns 31,204 shares of the real estate investment trust’s stock worth $2,668,000 after purchasing an additional 192 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Camden Property Trust by 9.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 993,562 shares of the real estate investment trust’s stock worth $79,942,000 after purchasing an additional 83,759 shares during the last quarter. Ranger Global Real Estate Advisors LLC acquired a new position in shares of Camden Property Trust during the 1st quarter worth about $3,557,000. Finally, TIAA CREF Investment Management LLC raised its position in shares of Camden Property Trust by 13.9% during the 1st quarter. TIAA CREF Investment Management LLC now owns 249,610 shares of the real estate investment trust’s stock worth $20,084,000 after purchasing an additional 30,556 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.
In other Camden Property Trust news, EVP William W. Sengelmann sold 5,085 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $90.15, for a total value of $458,412.75. Following the completion of the transaction, the executive vice president now owns 71,836 shares in the company, valued at $6,476,015.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President D Keith Oden sold 86,540 shares of the company’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. Over the last ninety days, insiders sold 118,584 shares of company stock worth $10,618,035. 4.70% of the stock is owned by corporate insiders.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Friday, September 29th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.18%. The ex-dividend date is Thursday, September 28th. Camden Property Trust’s payout ratio is 67.11%.
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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