DA Davidson Comments on Camden Property Trust’s Q4 2017 Earnings (CPT)
Camden Property Trust (NYSE:CPT) – Analysts at DA Davidson dropped their Q4 2017 earnings per share estimates for shares of Camden Property Trust in a research note issued to investors on Monday. DA Davidson analyst J. Lykins now forecasts that the real estate investment trust will post earnings per share of $1.14 for the quarter, down from their prior estimate of $1.19. DA Davidson also issued estimates for Camden Property Trust’s Q1 2018 earnings at $1.16 EPS, Q3 2018 earnings at $1.20 EPS and Q4 2018 earnings at $1.21 EPS.
A number of other brokerages have also commented on CPT. Royal Bank Of Canada boosted their price target on Camden Property Trust from $91.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, August 7th. BidaskClub upgraded Camden Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. KeyCorp boosted their price target on Camden Property Trust from $93.00 to $98.00 and gave the company an “overweight” rating in a report on Friday. Sandler O’Neill upgraded Camden Property Trust from a “hold” rating to a “buy” rating and boosted their price target for the company from $93.00 to $105.00 in a report on Tuesday, September 5th. Finally, Stifel Nicolaus started coverage on Camden Property Trust in a report on Friday, September 1st. They issued a “buy” rating and a $99.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $91.07.
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Shares of Camden Property Trust (CPT) opened at 94.05 on Tuesday. The stock has a market capitalization of $8.25 billion, a P/E ratio of 21.04 and a beta of 0.38. Camden Property Trust has a 1-year low of $75.36 and a 1-year high of $96.39. The stock’s 50 day moving average price is $90.82 and its 200-day moving average price is $85.53.
Camden Property Trust (NYSE:CPT) last posted its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $1.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.02. Camden Property Trust had a return on equity of 13.17% and a net margin of 46.10%. The company had revenue of $222.40 million during the quarter, compared to the consensus estimate of $222.44 million. During the same period last year, the business earned $1.15 EPS. The business’s quarterly revenue was up .4% on a year-over-year basis.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. YorkBridge Wealth Partners LLC raised its holdings in Camden Property Trust by 6.1% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,171 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 67 shares in the last quarter. Perigon Wealth Management LLC bought a new stake in Camden Property Trust during the first quarter worth about $110,000. Laurion Capital Management LP bought a new stake in Camden Property Trust in the first quarter valued at approximately $201,000. Eqis Capital Management Inc. bought a new stake in Camden Property Trust in the second quarter valued at approximately $201,000. Finally, Sawtooth Solutions LLC raised its stake in Camden Property Trust by 2.7% in the second quarter. Sawtooth Solutions LLC now owns 2,701 shares of the real estate investment trust’s stock valued at $231,000 after buying an additional 72 shares during the period. Institutional investors and hedge funds own 95.47% of the company’s stock.
In related news, EVP William W. Sengelmann sold 763 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $89.76, for a total transaction of $68,486.88. Following the sale, the executive vice president now owns 71,836 shares in the company, valued at $6,447,999.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alexander J. Jessett sold 11,788 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $89.81, for a total value of $1,058,680.28. Following the sale, the executive vice president now owns 56,783 shares in the company, valued at approximately $5,099,681.23. The disclosure for this sale can be found here. Insiders have sold 118,584 shares of company stock worth $10,618,035 in the last quarter. 4.70% of the stock is currently owned by corporate insiders.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Friday, September 29th will be issued a dividend of $0.75 per share. The ex-dividend date is Thursday, September 28th. This represents a $3.00 annualized dividend and a yield of 3.19%. Camden Property Trust’s payout ratio is presently 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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