Camden Property Trust (NYSE:CPT) – DA Davidson raised their Q4 2018 earnings per share (EPS) estimates for Camden Property Trust in a research note issued to investors on Monday, according to Zacks Investment Research. DA Davidson analyst J. Lykins now anticipates that the real estate investment trust will post earnings per share of $1.25 for the quarter, up from their prior forecast of $1.23. DA Davidson also issued estimates for Camden Property Trust’s FY2019 earnings at $5.00 EPS.
Camden Property Trust (NYSE:CPT) last announced its quarterly earnings results on Thursday, February 1st. The real estate investment trust reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.27). The business had revenue of $229.80 million for the quarter, compared to analyst estimates of $228.99 million. Camden Property Trust had a net margin of 21.80% and a return on equity of 6.01%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $1.15 earnings per share.
CPT has been the topic of a number of other reports. JPMorgan Chase & Co. raised shares of Camden Property Trust from a “neutral” rating to an “overweight” rating and set a $100.00 price target on the stock in a research report on Friday, December 15th. TheStreet cut shares of Camden Property Trust from a “b” rating to a “c+” rating in a research report on Thursday, January 18th. Sandler O’Neill set a $97.00 price target on shares of Camden Property Trust and gave the company a “buy” rating in a research report on Tuesday, February 6th. Robert W. Baird reissued a “hold” rating and set a $93.00 target price on shares of Camden Property Trust in a research report on Tuesday, January 9th. Finally, BMO Capital Markets set a $94.00 target price on shares of Camden Property Trust and gave the stock a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $91.27.
Shares of Camden Property Trust (NYSE CPT) traded down $0.87 during mid-day trading on Tuesday, reaching $80.99. 301,477 shares of the company’s stock were exchanged, compared to its average volume of 597,451. The firm has a market capitalization of $7,883.14, a PE ratio of 38.98, a price-to-earnings-growth ratio of 3.15 and a beta of 0.34. The company has a current ratio of 2.24, a quick ratio of 1.94 and a debt-to-equity ratio of 0.63. Camden Property Trust has a 1 year low of $78.38 and a 1 year high of $96.39.
A number of institutional investors and hedge funds have recently bought and sold shares of CPT. Cohen & Steers Inc. bought a new stake in Camden Property Trust during the third quarter valued at $193,833,000. Bank of New York Mellon Corp increased its stake in Camden Property Trust by 93.7% during the third quarter. Bank of New York Mellon Corp now owns 2,365,047 shares of the real estate investment trust’s stock valued at $216,282,000 after purchasing an additional 1,144,162 shares during the last quarter. BlackRock Inc. increased its stake in Camden Property Trust by 8.5% during the fourth quarter. BlackRock Inc. now owns 11,940,510 shares of the real estate investment trust’s stock valued at $1,099,242,000 after purchasing an additional 939,465 shares during the last quarter. Deutsche Bank AG increased its stake in Camden Property Trust by 30.1% during the fourth quarter. Deutsche Bank AG now owns 3,721,348 shares of the real estate investment trust’s stock valued at $342,582,000 after purchasing an additional 860,424 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Camden Property Trust by 27.2% during the third quarter. JPMorgan Chase & Co. now owns 3,636,486 shares of the real estate investment trust’s stock valued at $332,848,000 after purchasing an additional 778,543 shares during the last quarter. 93.03% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP William W. Sengelmann sold 4,478 shares of the company’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $88.42, for a total value of $395,944.76. Following the sale, the executive vice president now directly owns 66,567 shares of the company’s stock, valued at $5,885,854.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Richard J. Campo sold 379 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $94.44, for a total transaction of $35,792.76. Following the completion of the sale, the chairman now directly owns 338,519 shares in the company, valued at $31,969,734.36. The disclosure for this sale can be found here. Insiders sold 126,297 shares of company stock worth $11,635,108 over the last ninety days. 4.70% of the stock is currently owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 17th. Stockholders of record on Friday, March 30th will be given a dividend of $0.77 per share. This is a boost from Camden Property Trust’s previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Wednesday, March 28th. Camden Property Trust’s payout ratio is presently 142.86%.
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About Camden Property Trust
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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