KeyCorp Research Analysts Reduce Earnings Estimates for Camden Property Trust (CPT)

Camden Property Trust (NYSE:CPT) – Research analysts at KeyCorp decreased their FY2018 earnings per share (EPS) estimates for shares of Camden Property Trust in a report issued on Monday, September 24th. KeyCorp analyst A. Wurschmidt now expects that the real estate investment trust will post earnings of $4.77 per share for the year, down from their previous estimate of $4.78. KeyCorp also issued estimates for Camden Property Trust’s FY2019 earnings at $5.08 EPS.

CPT has been the topic of a number of other research reports. Royal Bank of Canada upped their price target on Camden Property Trust to $97.00 and gave the company an “outperform” rating in a research report on Tuesday, August 14th. SunTrust Banks upped their price target on Camden Property Trust to $95.00 and gave the company an “average” rating in a research report on Tuesday, August 14th. They noted that the move was a valuation call. Zacks Investment Research lowered Camden Property Trust from a “buy” rating to a “hold” rating in a research report on Friday, July 20th. Bank of America upped their price target on Camden Property Trust from $103.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, June 8th. Finally, Citigroup upped their price target on Camden Property Trust from $91.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, August 8th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $94.43.

NYSE CPT opened at $91.48 on Thursday. Camden Property Trust has a 12 month low of $78.19 and a 12 month high of $95.67. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 20.34, a P/E/G ratio of 3.15 and a beta of 0.27. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.54 and a current ratio of 0.54.

Camden Property Trust (NYSE:CPT) last released its quarterly earnings results on Thursday, August 2nd. The real estate investment trust reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.78). Camden Property Trust had a net margin of 21.65% and a return on equity of 5.79%. The company had revenue of $237.10 million during the quarter, compared to the consensus estimate of $235.47 million. During the same quarter last year, the firm posted $1.15 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 17th. Investors of record on Friday, September 28th will be given a dividend of $0.77 per share. The ex-dividend date is Thursday, September 27th. This represents a $3.08 annualized dividend and a dividend yield of 3.37%. Camden Property Trust’s payout ratio is 67.99%.

In related news, EVP William W. Sengelmann sold 31,895 shares of the company’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $94.42, for a total transaction of $3,011,525.90. Following the sale, the executive vice president now owns 78,276 shares in the company, valued at approximately $7,390,819.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Richard J. Campo sold 80,588 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $93.79, for a total value of $7,558,348.52. Following the sale, the chairman now owns 291,383 shares in the company, valued at approximately $27,328,811.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 245,731 shares of company stock worth $23,087,928. 4.70% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in CPT. Crossmark Global Holdings Inc. boosted its holdings in Camden Property Trust by 5.9% in the second quarter. Crossmark Global Holdings Inc. now owns 11,295 shares of the real estate investment trust’s stock worth $1,029,000 after acquiring an additional 630 shares in the last quarter. Neuburgh Advisers LLC boosted its holdings in Camden Property Trust by 7.9% in the second quarter. Neuburgh Advisers LLC now owns 9,020 shares of the real estate investment trust’s stock worth $822,000 after acquiring an additional 660 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its holdings in Camden Property Trust by 5.2% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 13,768 shares of the real estate investment trust’s stock worth $1,255,000 after acquiring an additional 676 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings 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 worth $5,758,000 after acquiring an additional 683 shares in the last quarter. Finally, Riverhead Capital Management LLC boosted its holdings in Camden Property Trust by 7.4% in the second quarter. Riverhead Capital Management LLC now owns 10,203 shares of the real estate investment trust’s stock worth $930,000 after acquiring an additional 700 shares in the last quarter. Institutional investors own 93.90% of the company’s stock.

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 158 properties containing 54,181 apartment homes across the United States.

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Earnings History and Estimates for Camden Property Trust (NYSE:CPT)

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