Brokerages Anticipate Camden Property Trust (CPT) Will Post Quarterly Sales of $242.41 Million

Wall Street brokerages expect Camden Property Trust (NYSE:CPT) to announce sales of $242.41 million for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Camden Property Trust’s earnings, with the highest sales estimate coming in at $245.57 million and the lowest estimate coming in at $239.62 million. Camden Property Trust reported sales of $229.83 million during the same quarter last year, which would suggest a positive year over year growth rate of 5.5%. The firm is expected to issue its next earnings report on Thursday, February 7th.

On average, analysts expect that Camden Property Trust will report full year sales of $949.94 million for the current financial year, with estimates ranging from $941.80 million to $954.45 million. For the next financial year, analysts anticipate that the firm will report sales of $997.84 million, with estimates ranging from $974.91 million to $1.02 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Camden Property Trust.

Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, October 25th. The real estate investment trust reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.79). Camden Property Trust had a return on equity of 5.94% and a net margin of 21.81%. The company had revenue of $241.77 million for the quarter, compared to the consensus estimate of $238.79 million.

Several equities analysts have issued reports on the company. Citigroup set a $96.00 price objective on Camden Property Trust and gave the company a “hold” rating in a research report on Tuesday. Zacks Investment Research upgraded Camden Property Trust from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research report on Tuesday, July 17th. Sandler O’Neill set a $105.00 price objective on Camden Property Trust and gave the company a “buy” rating in a research report on Friday, August 3rd. Capital One Financial assumed coverage on Camden Property Trust in a research report on Monday, October 22nd. They issued an “equal weight” rating and a $96.00 price objective for the company. Finally, Deutsche Bank lifted their price objective on Camden Property Trust from $92.00 to $93.00 and gave the company a “hold” rating in a research report on Wednesday, September 5th. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $94.31.

In other news, COO H Malcolm Stewart sold 21,017 shares of Camden Property Trust stock in a transaction on Monday, August 20th. The stock was sold at an average price of $94.47, for a total value of $1,985,475.99. Following the completion of the sale, the chief operating officer now directly owns 187,430 shares of the company’s stock, valued at approximately $17,706,512.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William W. Sengelmann sold 31,895 shares of Camden Property Trust stock in a transaction on Friday, August 17th. The shares were sold at an average price of $94.42, for a total value of $3,011,525.90. Following the completion of the sale, the executive vice president now directly owns 78,276 shares of the company’s stock, valued at $7,390,819.92. The disclosure for this sale can be found here. Insiders sold a total of 245,731 shares of company stock valued at $23,087,928 over the last three months. Insiders own 3.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CPT. Parallel Advisors LLC grew its stake in shares of Camden Property Trust by 1,495.0% during the second quarter. Parallel Advisors LLC now owns 1,276 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 1,196 shares during the period. Redpoint Investment Management Pty Ltd acquired a new stake in shares of Camden Property Trust during the second quarter worth $206,000. First Mercantile Trust Co. acquired a new stake in shares of Camden Property Trust during the second quarter worth $225,000. IFM Investors Pty Ltd acquired a new stake in shares of Camden Property Trust during the second quarter worth $227,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Camden Property Trust by 109.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,424 shares of the real estate investment trust’s stock worth $227,000 after purchasing an additional 1,268 shares during the period. 93.82% of the stock is owned by institutional investors.

CPT traded up $1.70 during trading on Tuesday, hitting $92.94. The company’s stock had a trading volume of 36,458 shares, compared to its average volume of 573,274. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 0.20. Camden Property Trust has a 12 month low of $78.19 and a 12 month high of $95.67. The company has a market cap of $8.39 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 3.03 and a beta of 0.28.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 17th. Stockholders of record on Friday, September 28th were paid a $0.77 dividend. The ex-dividend date was Thursday, September 27th. This represents a $3.08 annualized dividend and a dividend yield of 3.31%. Camden Property Trust’s dividend payout ratio (DPR) is currently 67.99%.

Camden Property Trust Company Profile

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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