Camden Property Trust (CPT) Issues FY13 Earnings Guidance
Camden Property Trust (CPT) updated its FY13 earnings guidance on Thursday. The company provided earnings per share guidance of $3.85-4.05 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.93. Camden Property Trust also updated its Q1 guidance to $0.92-0.96 EPS.
Camden Property Trust (CPT) traded down 1.41% on Thursday, hitting $69.39. Camden Property Trust (CPT) has a 1-year low of $61.25 and a 1-year high of $71.99. The stock’s 50-day moving average is currently $68.72. The company has a market cap of $5.837 billion and a price-to-earnings ratio of 31.11.
Camden Property Trust last announced its earnings results on Thursday, January 31st. The company reported $0.97 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.96 by $0.01. The company had revenue of $191.40 million for the quarter, compared to the consensus estimate of $195.85 million. During the same quarter in the prior year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. Camden Property Trust has set its Q1 guidance at $0.92-0.96 EPS and its FY13 guidance at $3.85-4.05 EPS. On average, analysts predict that Camden Property Trust (CPT) will post $3.61 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on CPT shares. Analysts at KeyBanc downgraded shares of Camden Property Trust from a hold rating to an underweight rating in a research note to investors on Thursday, January 10th. On a related note, analysts at KeyBanc Capital Mkts downgraded shares of Camden Property Trust from a hold rating to an underweight rating in a research note to investors on Thursday, January 10th. Finally, analysts at Deutsche Bank raised their price target on shares of Camden Property Trust from $69.00 to $71.00 in a research note to investors on Wednesday, January 9th. They now have a hold rating on the stock.
Eight equities research analysts have rated the stock with a buy rating, one has given an overweight rating, nine have given a hold rating, and one has given an underweight rating to the company. Camden Property Trust presently has a consensus rating of overweight and an average price target of $74.33.
Camden Property Trust is a real estate investment trust (REIT) engaged in the ownership, development, construction and management of multifamily apartment communities.
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