Camden Property Trust (CPT) Expected to Post Quarterly Sales of $234.63 Million

Wall Street analysts forecast that Camden Property Trust (NYSE:CPT) will post $234.63 million in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Camden Property Trust’s earnings. The lowest sales estimate is $231.14 million and the highest is $237.77 million. Camden Property Trust reported sales of $223.37 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5%. The company is expected to report its next quarterly earnings report on Thursday, July 26th.

According to Zacks, analysts expect that Camden Property Trust will report full year sales of $946.28 million for the current year, with estimates ranging from $925.50 million to $964.24 million. For the next fiscal year, analysts forecast that the business will post sales of $993.83 million per share, with estimates ranging from $932.93 million to $1.02 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Camden Property Trust.

Camden Property Trust (NYSE:CPT) last released its quarterly earnings results on Thursday, May 3rd. The real estate investment trust reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($0.72). The firm had revenue of $230.70 million for the quarter, compared to analyst estimates of $230.71 million. Camden Property Trust had a net margin of 22.03% and a return on equity of 5.97%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.09 EPS.

Several research firms have issued reports on CPT. Zacks Investment Research raised shares of Camden Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, April 11th. UBS raised shares of Camden Property Trust from a “sell” rating to a “neutral” rating and increased their price objective for the company from $78.69 to $84.00 in a report on Monday, March 19th. BTIG Research increased their price objective on shares of Camden Property Trust to $93.00 and gave the company a “buy” rating in a report on Thursday, March 15th. BMO Capital Markets set a $92.00 price objective on shares of Camden Property Trust and gave the company a “buy” rating in a report on Friday, March 2nd. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $88.00 price objective on shares of Camden Property Trust in a report on Friday, March 2nd. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $90.69.

Camden Property Trust traded up $0.49, hitting $85.60, during midday trading on Monday, according to Marketbeat Ratings. 388,086 shares of the company traded hands, compared to its average volume of 468,898. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.64. The company has a market cap of $7.90 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 2.89 and a beta of 0.35. Camden Property Trust has a 52-week low of $78.19 and a 52-week high of $96.39.

Several large investors have recently bought and sold shares of the company. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Camden Property Trust by 5.6% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 11,300 shares of the real estate investment trust’s stock worth $951,000 after buying an additional 600 shares in the last quarter. 6 Meridian lifted its stake in shares of Camden Property Trust by 13.2% in the first quarter. 6 Meridian now owns 5,632 shares of the real estate investment trust’s stock worth $474,000 after buying an additional 655 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of 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 buying an additional 683 shares in the last quarter. Global X Management Co. LLC lifted its stake in shares of Camden Property Trust by 45.3% in the fourth quarter. Global X Management Co. LLC now owns 2,309 shares of the real estate investment trust’s stock worth $213,000 after buying an additional 720 shares in the last quarter. Finally, Comerica Bank lifted its stake in shares of Camden Property Trust by 1.0% in the first quarter. Comerica Bank now owns 78,243 shares of the real estate investment trust’s stock worth $6,645,000 after buying an additional 749 shares in the last quarter. 93.48% of the stock is currently owned by hedge funds and other institutional investors.

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 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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