Camden Property Trust (NYSE:CPT) Expected to Announce Earnings of $1.27 Per Share

Wall Street brokerages expect Camden Property Trust (NYSE:CPT) to report earnings of $1.27 per share for the current quarter, Zacks reports. Nine analysts have issued estimates for Camden Property Trust’s earnings, with the highest EPS estimate coming in at $1.29 and the lowest estimate coming in at $1.25. Camden Property Trust reported earnings of $1.19 per share in the same quarter last year, which indicates a positive year over year growth rate of 6.7%. The company is expected to announce its next quarterly earnings report on Thursday, August 1st.

According to Zacks, analysts expect that Camden Property Trust will report full year earnings of $5.07 per share for the current fiscal year, with EPS estimates ranging from $5.02 to $5.11. For the next year, analysts forecast that the company will post earnings of $5.29 per share, with EPS estimates ranging from $5.13 to $5.36. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Camden Property Trust.

Camden Property Trust (NYSE:CPT) last released its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 EPS for the quarter, hitting the consensus estimate of $1.22. The business had revenue of $248.57 million during the quarter, compared to analysts’ expectations of $246.50 million. Camden Property Trust had a return on equity of 4.45% and a net margin of 15.98%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.15 earnings per share.

Several brokerages have commented on CPT. Barclays reiterated a “buy” rating and set a $108.00 target price on shares of Camden Property Trust in a research note on Tuesday, April 16th. SunTrust Banks boosted their price objective on shares of Camden Property Trust to $108.00 and gave the stock a “buy” rating in a research note on Thursday. Sandler O’Neill lowered shares of Camden Property Trust from a “buy” rating to a “hold” rating in a report on Friday, April 5th. Finally, KeyCorp upped their price target on shares of Camden Property Trust from $98.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Camden Property Trust currently has an average rating of “Buy” and an average target price of $100.53.

In other Camden Property Trust news, Chairman Richard J. Campo sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $105.32, for a total transaction of $6,319,200.00. Following the completion of the transaction, the chairman now owns 273,948 shares in the company, valued at $28,852,203.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President D Keith Oden sold 37,500 shares of Camden Property Trust stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $105.44, for a total transaction of $3,954,000.00. Following the sale, the president now directly owns 291,083 shares of the company’s stock, valued at approximately $30,691,791.52. The disclosure for this sale can be found here. In the last three months, insiders sold 99,479 shares of company stock valued at $10,475,434. 3.40% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of CPT. Oregon Public Employees Retirement Fund boosted its position in Camden Property Trust by 8,705.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,206,341 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 3,169,926 shares during the period. Resolution Capital Ltd acquired a new position in Camden Property Trust during the first quarter worth approximately $80,234,000. Cbre Clarion Securities LLC purchased a new stake in Camden Property Trust during the first quarter worth approximately $79,827,000. Norges Bank purchased a new position in shares of Camden Property Trust in the fourth quarter valued at $60,080,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Camden Property Trust by 38.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,323,340 shares of the real estate investment trust’s stock worth $235,819,000 after purchasing an additional 647,190 shares during the period. Institutional investors and hedge funds own 93.17% of the company’s stock.

Camden Property Trust stock traded down $0.19 during midday trading on Friday, hitting $106.09. 6,422 shares of the company’s stock were exchanged, compared to its average volume of 411,655. Camden Property Trust has a 52-week low of $83.67 and a 52-week high of $106.92. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.57. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 3.20 and a beta of 0.47.

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.

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Earnings History and Estimates for Camden Property Trust (NYSE:CPT)

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