Equities analysts expect Camden Property Trust (NYSE:CPT) to announce sales of $230.52 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Camden Property Trust’s earnings, with the highest sales estimate coming in at $233.80 million and the lowest estimate coming in at $225.44 million. Camden Property Trust reported sales of $219.52 million during the same quarter last year, which suggests a positive year over year growth rate of 5%. The company is expected to issue its next earnings results after the market closes on Thursday, May 3rd.
According to Zacks, analysts expect that Camden Property Trust will report full-year sales of $947.55 million for the current financial year, with estimates ranging from $923.91 million to $964.24 million. For the next financial year, analysts anticipate that the business will post sales of $995.48 million per share, with estimates ranging from $931.33 million to $1.02 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Camden Property Trust.
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). Camden Property Trust had a net margin of 21.80% and a return on equity of 6.01%. The company had revenue of $229.80 million during the quarter, compared to the consensus estimate of $228.99 million. During the same quarter last year, the company earned $1.15 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis.
A number of brokerages have weighed in on CPT. Zacks Investment Research upgraded Camden Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, April 11th. UBS upgraded Camden Property Trust from a “sell” rating to a “neutral” rating and upped their price target for the company from $78.69 to $84.00 in a research report on Monday, March 19th. BTIG Research upped their price target on Camden Property Trust to $93.00 and gave the company a “buy” rating in a research report on Thursday, March 15th. BMO Capital Markets set a $92.00 price target on Camden Property Trust and gave the company a “buy” rating in a research report on Friday, March 2nd. Finally, Robert W. Baird reiterated a “hold” rating and issued a $88.00 price target on shares of Camden Property Trust in a research report on Friday, March 2nd. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Camden Property Trust currently has a consensus rating of “Buy” and an average target price of $90.64.
A number of institutional investors have recently bought and sold shares of CPT. BlackRock Inc. lifted its stake in shares of 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 acquiring an additional 939,465 shares during the period. Deutsche Bank AG lifted its stake in shares of 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 acquiring an additional 860,424 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Camden Property Trust by 19.7% during the fourth quarter. Bank of New York Mellon Corp now owns 2,830,744 shares of the real estate investment trust’s stock valued at $260,599,000 after acquiring an additional 465,697 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Camden Property Trust by 101.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,642,463 shares of the real estate investment trust’s stock valued at $243,266,000 after acquiring an additional 1,333,250 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Camden Property Trust by 3.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,254,640 shares of the real estate investment trust’s stock valued at $114,737,000 after acquiring an additional 45,846 shares during the period. 97.36% of the stock is currently owned by institutional investors.
NYSE:CPT traded down $1.39 during trading hours on Monday, reaching $84.56. The company had a trading volume of 129,219 shares, compared to its average volume of 610,709. Camden Property Trust has a one year low of $78.19 and a one year high of $96.39. The stock has a market capitalization of $7,995.31, a price-to-earnings ratio of 19.03, a price-to-earnings-growth ratio of 2.98 and a beta of 0.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.24 and a quick ratio of 2.24.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 17th. Shareholders of record on Friday, March 30th were paid a $0.77 dividend. The ex-dividend date was Wednesday, March 28th. This represents a $3.08 dividend on an annualized basis and a yield of 3.64%. This is a positive change from Camden Property Trust’s previous quarterly dividend of $0.75. Camden Property Trust’s payout ratio is currently 67.99%.
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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 156 properties containing 53,391 apartment homes across the United States.
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