Equities analysts predict that Camden Property Trust (NYSE:CPT) will post $252.04 million in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Camden Property Trust’s earnings. The lowest sales estimate is $247.86 million and the highest is $256.60 million. Camden Property Trust reported sales of $237.13 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.3%. The business is scheduled to issue its next earnings results on Thursday, August 1st.
On average, analysts expect that Camden Property Trust will report full year sales of $1.01 billion for the current financial year, with estimates ranging from $996.72 million to $1.03 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.06 billion, with estimates ranging from $1.02 billion to $1.08 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Camden Property Trust.
Camden Property Trust (NYSE:CPT) last released its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.22. Camden Property Trust had a net margin of 15.98% and a return on equity of 4.45%. The firm had revenue of $248.57 million for the quarter, compared to the consensus estimate of $246.50 million. During the same period last year, the firm earned $1.15 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis.
A number of equities analysts have recently issued reports on CPT shares. SunTrust Banks increased their price objective on shares of Camden Property Trust to $108.00 and gave the company a “buy” rating in a research note on Thursday. Barclays reiterated a “buy” rating and set a $108.00 price objective on shares of Camden Property Trust in a research note on Tuesday, April 16th. Sandler O’Neill downgraded shares of Camden Property Trust from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. Finally, KeyCorp raised their target price on shares of Camden Property Trust from $98.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $100.53.
Shares of NYSE CPT traded down $0.19 during midday trading on Tuesday, reaching $106.09. 6,422 shares of the company’s stock traded hands, compared to its average volume of 411,655. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.21 and a current ratio of 0.21. Camden Property Trust has a one year low of $83.67 and a one year high of $106.92. The company has a market cap of $10.28 billion, a PE ratio of 22.24, a P/E/G ratio of 3.20 and a beta of 0.47.
In related news, Director William F. Paulsen sold 1,979 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $102.19, for a total transaction of $202,234.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard J. Campo sold 60,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $105.32, for a total transaction of $6,319,200.00. Following the transaction, the chairman now directly owns 273,948 shares of the company’s stock, valued at approximately $28,852,203.36. The disclosure for this sale can be found here. Insiders have sold 99,479 shares of company stock valued at $10,475,434 over the last quarter. Insiders own 3.40% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Rehmann Capital Advisory Group grew its position in shares of Camden Property Trust by 71.7% in the fourth quarter. Rehmann Capital Advisory Group now owns 297 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 124 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Camden Property Trust by 8,705.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,206,341 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 3,169,926 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in Camden Property Trust by 454.9% during the first quarter. Rockefeller Capital Management L.P. now owns 455 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 373 shares during the last quarter. Icon Wealth Partners LLC acquired a new position in Camden Property Trust during the first quarter worth about $52,000. Finally, Penserra Capital Management LLC acquired a new position in Camden Property Trust during the first quarter worth about $58,000. 93.17% of the stock is owned by hedge funds and other institutional investors.
Camden Property Trust Company Profile
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 161 properties containing 55,160 apartment homes across the United States.
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