Q4 2017 Earnings Estimate for Camden Property Trust (CPT) Issued By KeyCorp
Camden Property Trust (NYSE:CPT) – Analysts at KeyCorp raised their Q4 2017 earnings per share (EPS) estimates for shares of Camden Property Trust in a research note issued on Wednesday. KeyCorp analyst A. Wurschmidt now expects that the real estate investment trust will post earnings per share of $1.17 for the quarter, up from their previous forecast of $1.15. KeyCorp currently has a “Overweight” rating and a $98.00 target price on the stock.
Several other brokerages have also recently issued reports on CPT. SunTrust Banks reissued a “hold” rating and issued a $93.00 price objective on shares of Camden Property Trust in a report on Wednesday, October 4th. Sandler O’Neill raised Camden Property Trust from a “hold” rating to a “buy” rating and boosted their price objective for the company from $93.00 to $105.00 in a report on Tuesday, September 5th. Stifel Nicolaus initiated coverage on Camden Property Trust in a report on Friday, September 1st. They issued a “buy” rating and a $99.00 price objective for the company. BMO Capital Markets reissued a “buy” rating and issued a $95.00 price objective on shares of Camden Property Trust in a report on Friday, September 8th. Finally, Mizuho reissued a “hold” rating and issued a $94.00 price objective on shares of Camden Property Trust in a report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Camden Property Trust has a consensus rating of “Hold” and a consensus price target of $93.00.
Camden Property Trust (NYSE CPT) opened at $90.91 on Monday. The stock has a market capitalization of $8,530.00, a PE ratio of 55.43, a PEG ratio of 3.67 and a beta of 0.41. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.64. Camden Property Trust has a fifty-two week low of $78.38 and a fifty-two week high of $96.39.
Camden Property Trust (NYSE:CPT) last issued its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by ($0.03). The company had revenue of $228.18 million during the quarter, compared to analyst estimates of $226.41 million. Camden Property Trust had a net margin of 16.81% and a return on equity of 4.71%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $1.13 EPS.
Large investors have recently bought and sold shares of the business. YorkBridge Wealth Partners LLC grew its position in shares of Camden Property Trust by 6.1% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,171 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 67 shares in the last quarter. Sawtooth Solutions LLC grew its position in Camden Property Trust by 2.7% in the second quarter. Sawtooth Solutions LLC now owns 2,701 shares of the real estate investment trust’s stock worth $231,000 after acquiring an additional 72 shares during the period. PNC Financial Services Group Inc. grew its position in Camden Property Trust by 0.8% in the second quarter. PNC Financial Services Group Inc. now owns 12,989 shares of the real estate investment trust’s stock worth $1,111,000 after acquiring an additional 97 shares during the period. Linscomb & Williams Inc. grew its position in Camden Property Trust by 2.6% in the second quarter. Linscomb & Williams Inc. now owns 4,805 shares of the real estate investment trust’s stock worth $411,000 after acquiring an additional 124 shares during the period. Finally, Utah Retirement Systems grew its position in Camden Property Trust by 0.7% in the second quarter. Utah Retirement Systems now owns 20,253 shares of the real estate investment trust’s stock worth $1,732,000 after acquiring an additional 139 shares during the period. Institutional investors own 96.86% of the company’s stock.
In other Camden Property Trust news, Chairman Richard J. Campo sold 52,247 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $92.27, for a total transaction of $4,820,830.69. Following the completion of the sale, the chairman now directly owns 344,201 shares in the company, valued at approximately $31,759,426.27. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President D Keith Oden sold 55,682 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $92.27, for a total value of $5,137,778.14. Following the sale, the president now owns 364,771 shares of the company’s stock, valued at $33,657,420.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,394 shares of company stock valued at $11,201,585. 4.70% of the stock is owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $3.00 annualized dividend and a yield of 3.30%. Camden Property Trust’s dividend payout ratio (DPR) is currently 182.93%.
About Camden Property Trust
Camden Property Trust is a real estate investment trust (REIT). The Company is engaged in the ownership, management, development, redevelopment, acquisition and construction of multifamily apartment communities. As of December 31, 2016, the Company owned interests in, operated, or were developing 159 multifamily properties, which consisted of 55,366 apartment homes across the United States.
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