Zacks: Brokerages Anticipate Camden Property Trust (CPT) to Post $1.19 Earnings Per Share
Wall Street analysts expect Camden Property Trust (NYSE:CPT) to report $1.19 earnings per share (EPS) for the current quarter, according to Zacks. Seven analysts have issued estimates for Camden Property Trust’s earnings. The highest EPS estimate is $1.20 and the lowest is $1.17. Camden Property Trust reported earnings of $1.11 per share in the same quarter last year, which indicates a positive year over year growth rate of 7.2%. The business is scheduled to report its next quarterly earnings report on Thursday, October 25th.
On average, analysts expect that Camden Property Trust will report full-year earnings of $4.75 per share for the current financial year, with EPS estimates ranging from $4.71 to $4.79. For the next financial year, analysts expect that the business will post earnings of $5.04 per share, with EPS estimates ranging from $4.92 to $5.16. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Camden Property Trust.
Camden Property Trust (NYSE:CPT) last issued its earnings results on Thursday, August 2nd. The real estate investment trust reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.78). The business had revenue of $237.10 million for the quarter, compared to the consensus estimate of $235.47 million. Camden Property Trust had a return on equity of 5.79% and a net margin of 21.65%. Camden Property Trust’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.15 EPS.
Shares of NYSE:CPT opened at $94.92 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.54 and a quick ratio of 0.54. Camden Property Trust has a twelve month low of $78.19 and a twelve month high of $96.39. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 3.21 and a beta of 0.38.
In related news, President D Keith Oden sold 37,518 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $93.75, for a total value of $3,517,312.50. Following the sale, the president now directly owns 308,518 shares of the company’s stock, valued at $28,923,562.50. 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 21,017 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $94.47, for a total transaction of $1,985,475.99. Following the completion of the sale, the chief operating officer now directly owns 187,430 shares in the company, valued at $17,706,512.10. The disclosure for this sale can be found here. Insiders sold 258,941 shares of company stock valued at $24,285,504 over the last 90 days. 4.70% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. New York State Common Retirement Fund raised its stake in Camden Property Trust by 1.1% in the first quarter. New York State Common Retirement Fund now owns 217,683 shares of the real estate investment trust’s stock valued at $18,325,000 after purchasing an additional 2,455 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Camden Property Trust by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,322,663 shares of the real estate investment trust’s stock valued at $111,341,000 after purchasing an additional 20,742 shares in the last quarter. BTIM Corp. raised its stake in Camden Property Trust by 42.2% in the second quarter. BTIM Corp. now owns 84,481 shares of the real estate investment trust’s stock valued at $7,698,000 after purchasing an additional 25,055 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Camden Property Trust by 1.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 68,400 shares of the real estate investment trust’s stock valued at $5,758,000 after purchasing an additional 683 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Camden Property Trust by 4.4% in the first quarter. Thrivent Financial for Lutherans now owns 749,780 shares of the real estate investment trust’s stock valued at $63,117,000 after purchasing an additional 31,781 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.
About Camden Property Trust
Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 158 properties containing 54,181 apartment homes across the United States.
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