Camden Property Trust (NYSE:CPT) – SunTrust Banks upped their FY2020 earnings estimates for shares of Camden Property Trust in a research report issued to clients and investors on Wednesday, January 15th. SunTrust Banks analyst M. Lewis now expects that the real estate investment trust will earn $5.41 per share for the year, up from their prior forecast of $5.40. SunTrust Banks also issued estimates for Camden Property Trust’s FY2024 earnings at $6.14 EPS.
Camden Property Trust (NYSE:CPT) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.28 by ($0.84). The company had revenue of $260.67 million during the quarter, compared to analysts’ expectations of $259.56 million. Camden Property Trust had a net margin of 16.22% and a return on equity of 4.53%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.20 earnings per share.
A number of other research firms also recently commented on CPT. Barclays reiterated a “buy” rating and issued a $124.00 price objective on shares of Camden Property Trust in a report on Sunday, October 13th. Zacks Investment Research upgraded shares of Camden Property Trust from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a report on Thursday. Bank of America downgraded shares of Camden Property Trust from a “buy” rating to a “neutral” rating and set a $118.00 price objective for the company. in a report on Thursday, November 7th. KeyCorp increased their price objective on shares of Camden Property Trust from $112.00 to $117.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $115.00 price objective on shares of Camden Property Trust in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Camden Property Trust presently has an average rating of “Buy” and a consensus price target of $116.36.
Camden Property Trust stock traded up $0.35 during midday trading on Friday, reaching $109.42. The company had a trading volume of 3,845 shares, compared to its average volume of 609,664. The company has a market capitalization of $10.37 billion, a P/E ratio of 22.91, a P/E/G ratio of 2.91 and a beta of 0.35. Camden Property Trust has a 12-month low of $90.85 and a 12-month high of $116.67. The firm’s fifty day simple moving average is $107.16 and its 200-day simple moving average is $108.87. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.76 and a quick ratio of 0.76.
Several hedge funds and other institutional investors have recently made changes to their positions in CPT. Nuveen Asset Management LLC increased its holdings in shares of Camden Property Trust by 200.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,446,092 shares of the real estate investment trust’s stock worth $255,348,000 after buying an additional 1,632,600 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Camden Property Trust by 1,004.8% during the 3rd quarter. Millennium Management LLC now owns 915,350 shares of the real estate investment trust’s stock worth $101,613,000 after buying an additional 832,501 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of Camden Property Trust during the 2nd quarter worth approximately $28,765,000. Vanguard Group Inc. boosted its position in shares of Camden Property Trust by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 14,426,035 shares of the real estate investment trust’s stock worth $1,505,934,000 after purchasing an additional 255,978 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Camden Property Trust by 44.0% during the 2nd quarter. Invesco Ltd. now owns 604,392 shares of the real estate investment trust’s stock worth $63,092,000 after purchasing an additional 184,692 shares during the period. Institutional investors and hedge funds own 92.31% of the company’s stock.
In other news, Vice Chairman D Keith Oden sold 23,307 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $111.88, for a total transaction of $2,607,587.16. Following the completion of the sale, the insider now owns 270,800 shares in the company, valued at approximately $30,297,104. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William W. Sengelmann sold 2,457 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $105.76, for a total transaction of $259,852.32. The disclosure for this sale can be found here. Insiders have sold a total of 224,218 shares of company stock valued at $24,814,794 in the last 90 days. Insiders own 3.40% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.80 per share. The ex-dividend date is Friday, December 13th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.92%. Camden Property Trust’s dividend payout ratio is currently 67.09%.
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 161 properties containing 55,160 apartment homes across the United States.
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