Equities Analysts Issue Forecasts for Camden Property Trust’s Q1 2018 Earnings (CPT)
Camden Property Trust (NYSE:CPT) – Equities researchers at DA Davidson dropped their Q1 2018 earnings estimates for shares of Camden Property Trust in a note issued to investors on Monday. DA Davidson analyst J. Lykins now anticipates that the real estate investment trust will post earnings of $1.13 per share for the quarter, down from their prior estimate of $1.18. DA Davidson also issued estimates for Camden Property Trust’s Q2 2018 earnings at $1.18 EPS, Q3 2018 earnings at $1.16 EPS and FY2018 earnings at $4.72 EPS.
Camden Property Trust (NYSE:CPT) last released its quarterly earnings results on Thursday, February 1st. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.27). Camden Property Trust had a net margin of 21.80% and a return on equity of 6.01%. The business had revenue of $229.80 million during the quarter, compared to analysts’ expectations of $228.99 million. During the same quarter last year, the business posted $1.15 earnings per share. The company’s quarterly revenue was up 5.8% compared to the same quarter last year.
Shares of Camden Property Trust (NYSE CPT) opened at $81.73 on Wednesday. The company has a quick ratio of 1.94, a current ratio of 2.24 and a debt-to-equity ratio of 0.63. Camden Property Trust has a 12 month low of $78.38 and a 12 month high of $96.39. The company has a market capitalization of $7,869.55, a PE ratio of 17.89, a price-to-earnings-growth ratio of 3.14 and a beta of 0.34.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 17th. Stockholders of record on Friday, March 30th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This is a positive change from Camden Property Trust’s previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.77%. Camden Property Trust’s dividend payout ratio is currently 142.86%.
In other news, President D Keith Oden sold 55,682 shares of the stock in a transaction dated 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 transaction, the president now directly owns 364,771 shares of the company’s stock, valued at $33,657,420.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard J. Campo sold 379 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $94.44, for a total value of $35,792.76. Following the completion of the transaction, the chairman now directly owns 338,519 shares in the company, valued at $31,969,734.36. The disclosure for this sale can be found here. Insiders sold 126,297 shares of company stock worth $11,635,108 over the last three months. Corporate insiders own 4.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Advisor Group Inc. grew its holdings in Camden Property Trust by 28.7% during the second quarter. Advisor Group Inc. now owns 4,818 shares of the real estate investment trust’s stock worth $412,000 after acquiring an additional 1,073 shares during the period. Parametric Portfolio Associates LLC grew its holdings in Camden Property Trust by 25.4% during the second quarter. Parametric Portfolio Associates LLC now owns 130,774 shares of the real estate investment trust’s stock worth $11,182,000 after acquiring an additional 26,459 shares during the period. Prudential PLC grew its holdings in Camden Property Trust by 73.8% during the second quarter. Prudential PLC now owns 7,300 shares of the real estate investment trust’s stock worth $624,000 after acquiring an additional 3,100 shares during the period. Macquarie Group Ltd. grew its holdings in Camden Property Trust by 434.4% during the second quarter. Macquarie Group Ltd. now owns 154,442 shares of the real estate investment trust’s stock worth $13,206,000 after acquiring an additional 125,540 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Camden Property Trust by 631.5% during the second quarter. Janus Henderson Group PLC now owns 46,090 shares of the real estate investment trust’s stock worth $3,941,000 after acquiring an additional 39,789 shares during the period. 97.22% of the stock is currently owned by institutional investors and hedge funds.
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Camden Property Trust Company Profile
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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