Camden Property Trust (NYSE:CPT) – Equities researchers at SunTrust Banks cut their FY2019 earnings per share (EPS) estimates for Camden Property Trust in a research note issued to investors on Tuesday, December 3rd, according to Zacks Investment Research. SunTrust Banks analyst M. Lewis now forecasts that the real estate investment trust will earn $5.01 per share for the year, down from their previous forecast of $5.07. SunTrust Banks also issued estimates for Camden Property Trust’s Q1 2020 earnings at $1.32 EPS, FY2021 earnings at $5.71 EPS, FY2022 earnings at $5.95 EPS and FY2023 earnings at $6.11 EPS.
Camden Property Trust (NYSE:CPT) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.84). The business had revenue of $260.67 million for the quarter, compared to analyst estimates of $259.56 million. Camden Property Trust had a net margin of 16.22% and a return on equity of 4.53%. Camden Property Trust’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the business posted $1.20 earnings per share.
A number of other research analysts have also commented on the stock. Bank of America lowered shares of Camden Property Trust from a “buy” rating to a “neutral” rating and set a $118.00 price objective on the stock. in a research note on Thursday, November 7th. Capital One Financial raised Camden Property Trust from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $107.00 to $119.00 in a research note on Monday, September 16th. Sandler O’Neill upgraded Camden Property Trust from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Friday, December 20th. KeyCorp boosted their price objective on Camden Property Trust from $112.00 to $117.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $115.00 target price on shares of Camden Property Trust in a research note on Monday, November 4th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $115.13.
Camden Property Trust stock traded up $0.12 during trading hours on Friday, hitting $105.18. 372,928 shares of the company traded hands, compared to its average volume of 515,781. The firm’s 50-day simple moving average is $109.13 and its two-hundred day simple moving average is $108.86. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.68. The firm has a market cap of $10.17 billion, a P/E ratio of 22.05, a P/E/G ratio of 3.08 and a beta of 0.38. Camden Property Trust has a 1-year low of $83.67 and a 1-year high of $116.67.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new stake in Camden Property Trust in the 2nd quarter worth about $26,000. Evoke Wealth LLC purchased a new position in Camden Property Trust during the 3rd quarter valued at about $38,000. HM Payson & Co. acquired a new position in shares of Camden Property Trust in the 2nd quarter valued at about $49,000. Capital Investment Advisory Services LLC acquired a new position in shares of Camden Property Trust in the 3rd quarter valued at about $56,000. Finally, NEXT Financial Group Inc lifted its position in shares of Camden Property Trust by 15.4% in the second quarter. NEXT Financial Group Inc now owns 898 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 92.29% of the company’s stock.
In other news, Vice Chairman D Keith Oden sold 23,307 shares of Camden Property Trust stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $111.88, for a total value of $2,607,587.16. Following the transaction, the insider now directly owns 270,800 shares of the company’s stock, valued at $30,297,104. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard J. Campo sold 25,976 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $112.65, for a total transaction of $2,926,196.40. Following the sale, the chief executive officer now owns 253,664 shares in the company, valued at approximately $28,575,249.60. The disclosure for this sale can be found here. Insiders have sold a total of 161,591 shares of company stock valued at $18,191,363 in the last quarter. Insiders own 3.40% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, December 16th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, December 13th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.04%. Camden Property Trust’s dividend payout ratio (DPR) is presently 67.09%.
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 161 properties containing 55,160 apartment homes across the United States.