Research Analysts Offer Predictions for Camden Property Trust’s FY2017 Earnings (CPT)
Camden Property Trust (NYSE:CPT) – Stock analysts at SunTrust Banks reduced their FY2017 earnings per share (EPS) estimates for Camden Property Trust in a report issued on Tuesday. SunTrust Banks analyst M. Lewis now anticipates that the real estate investment trust will post earnings of $4.56 per share for the year, down from their prior forecast of $4.61. SunTrust Banks currently has a “Hold” rating and a $93.00 price objective on the stock. SunTrust Banks also issued estimates for Camden Property Trust’s Q4 2017 earnings at $1.21 EPS, FY2019 earnings at $5.13 EPS, FY2020 earnings at $5.44 EPS and FY2021 earnings at $5.66 EPS.
CPT has been the topic of a number of other research reports. BMO Capital Markets reaffirmed a “buy” rating and set a $95.00 price objective on shares of Camden Property Trust in a research note on Friday, September 8th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $91.00 price objective on shares of Camden Property Trust in a research note on Sunday, July 16th. Barclays PLC raised their price objective on shares of Camden Property Trust from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 18th. Deutsche Bank AG raised their price objective on shares of Camden Property Trust from $84.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, August 18th. Finally, KeyCorp raised their price objective on shares of Camden Property Trust from $93.00 to $98.00 and gave the stock an “overweight” rating in a research note on Friday, September 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $92.20.
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Camden Property Trust (NYSE CPT) opened at 92.58 on Thursday. The firm has a 50 day moving average of $91.85 and a 200-day moving average of $86.56. Camden Property Trust has a 52-week low of $75.36 and a 52-week high of $96.39. The company has a market capitalization of $8.12 billion, a price-to-earnings ratio of 20.71 and a beta of 0.41.
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. The business had revenue of $222.40 million during the quarter, compared to analyst estimates of $222.44 million. Camden Property Trust had a net margin of 46.10% and a return on equity of 13.17%. The company’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the business posted $1.15 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Friday, September 29th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.00 dividend on an annualized basis and a yield of 3.24%. Camden Property Trust’s dividend payout ratio is currently 67.11%.
In related news, COO H Malcolm Stewart sold 11,174 shares of Camden Property Trust stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $89.75, for a total value of $1,002,866.50. Following the sale, the chief operating officer now owns 253,456 shares of the company’s stock, valued at approximately $22,747,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William W. Sengelmann sold 5,085 shares of Camden Property Trust stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $90.15, for a total transaction of $458,412.75. Following the completion of the sale, the executive vice president now directly owns 71,836 shares in the company, valued at approximately $6,476,015.40. The disclosure for this sale can be found here. Insiders sold a total of 118,584 shares of company stock worth $10,618,035 in the last three months. 4.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Camden Property Trust by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 14,190,009 shares of the real estate investment trust’s stock valued at $1,213,387,000 after acquiring an additional 85,219 shares during the period. BlackRock Inc. grew its stake in Camden Property Trust by 3.1% in the 2nd quarter. BlackRock Inc. now owns 10,451,376 shares of the real estate investment trust’s stock valued at $893,697,000 after acquiring an additional 310,886 shares during the period. State Street Corp grew its stake in Camden Property Trust by 1.5% in the 1st quarter. State Street Corp now owns 4,488,687 shares of the real estate investment trust’s stock valued at $361,144,000 after acquiring an additional 65,704 shares during the period. Morgan Stanley grew its stake in Camden Property Trust by 35.4% in the 1st quarter. Morgan Stanley now owns 3,501,894 shares of the real estate investment trust’s stock valued at $281,763,000 after acquiring an additional 915,901 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in Camden Property Trust by 8.6% in the 1st quarter. Nuveen Asset Management LLC now owns 1,327,236 shares of the real estate investment trust’s stock valued at $106,789,000 after acquiring an additional 105,014 shares during the period. 90.58% of the stock is currently owned by hedge funds and other institutional investors.
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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