Equities analysts forecast that Camden Property Trust (NYSE:CPT) will announce $268.35 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Camden Property Trust’s earnings. The lowest sales estimate is $264.26 million and the highest is $271.40 million. Camden Property Trust reported sales of $250.68 million in the same quarter last year, which suggests a positive year over year growth rate of 7%. The firm is scheduled to announce its next quarterly earnings results on Thursday, July 29th.
According to Zacks, analysts expect that Camden Property Trust will report full year sales of $1.08 billion for the current fiscal year, with estimates ranging from $1.06 billion to $1.10 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.12 billion, with estimates ranging from $1.09 billion to $1.16 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that cover Camden Property Trust.
Camden Property Trust (NYSE:CPT) last announced its quarterly earnings data on Thursday, April 29th. The real estate investment trust reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.92). Camden Property Trust had a net margin of 18.14% and a return on equity of 5.22%.
CPT has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Camden Property Trust from $107.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, March 24th. Piper Sandler lifted their target price on Camden Property Trust from $116.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, April 23rd. Robert W. Baird upgraded Camden Property Trust from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $103.00 to $109.00 in a research report on Tuesday, February 9th. Zacks Investment Research upgraded Camden Property Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, April 13th. Finally, Colliers Securities initiated coverage on Camden Property Trust in a research report on Wednesday, April 28th. They set a “buy” rating and a $134.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Camden Property Trust currently has an average rating of “Buy” and an average target price of $112.57.
In other news, Director William F. Paulsen sold 5,500 shares of the business’s stock in a transaction dated Tuesday, March 23rd. The stock was sold at an average price of $108.57, for a total value of $597,135.00. Following the sale, the director now directly owns 2,463 shares in the company, valued at $267,407.91. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.20% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Waters Parkerson & CO. LLC lifted its holdings in shares of Camden Property Trust by 21.6% in the fourth quarter. Waters Parkerson & CO. LLC now owns 19,425 shares of the real estate investment trust’s stock valued at $1,941,000 after purchasing an additional 3,450 shares in the last quarter. Aurora Investment Managers LLC. bought a new stake in Camden Property Trust during the fourth quarter worth about $2,124,000. State of New Jersey Common Pension Fund D raised its holdings in Camden Property Trust by 9.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 194,242 shares of the real estate investment trust’s stock worth $19,409,000 after acquiring an additional 17,131 shares in the last quarter. Waterfront Capital Partners LLC raised its holdings in Camden Property Trust by 129.8% during the fourth quarter. Waterfront Capital Partners LLC now owns 524,286 shares of the real estate investment trust’s stock worth $52,387,000 after acquiring an additional 296,186 shares in the last quarter. Finally, Security National Bank raised its holdings in Camden Property Trust by 0.8% during the fourth quarter. Security National Bank now owns 49,519 shares of the real estate investment trust’s stock worth $4,948,000 after acquiring an additional 392 shares in the last quarter. Institutional investors own 94.56% of the company’s stock.
CPT stock traded down $0.68 during mid-day trading on Thursday, hitting $119.31. The stock had a trading volume of 450,056 shares, compared to its average volume of 701,661. The stock has a market capitalization of $11.92 billion, a price-to-earnings ratio of 63.15, a PEG ratio of 4.56 and a beta of 0.72. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.90. Camden Property Trust has a 1-year low of $80.79 and a 1-year high of $121.42. The company has a fifty day moving average of $113.60 and a 200 day moving average of $103.06.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 16th. Shareholders of record on Wednesday, March 31st were issued a dividend of $0.83 per share. The ex-dividend date of this dividend was Tuesday, March 30th. This is a positive change from Camden Property Trust’s previous quarterly dividend of $0.13. This represents a $3.32 annualized dividend and a yield of 2.78%. Camden Property Trust’s payout ratio is currently 65.87%.
Camden Property Trust Company Profile
Camden Property Trust, an S&P 400 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 167 properties containing 56,850 apartment homes across the United States.
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