Brokerages Expect Camden Property Trust (CPT) Will Post Earnings of $1.19 Per Share
Equities research analysts expect Camden Property Trust (NYSE:CPT) to post earnings of $1.19 per share for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Camden Property Trust’s earnings. The lowest EPS estimate is $1.17 and the highest is $1.20. Camden Property Trust posted earnings of $1.11 per share in the same quarter last year, which suggests a positive year over year growth rate of 7.2%. The firm is expected to announce its next earnings results on Thursday, October 25th.
According to Zacks, analysts expect that Camden Property Trust will report full-year earnings of $4.76 per share for the current fiscal year, with EPS estimates ranging from $4.72 to $4.79. For the next financial year, analysts anticipate that the company will report earnings of $5.06 per share, with EPS estimates ranging from $4.99 to $5.16. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Camden Property Trust.
Camden Property Trust (NYSE:CPT) last announced its quarterly earnings results on Thursday, August 2nd. The real estate investment trust reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.78). The company had revenue of $237.10 million during the quarter, compared to the consensus estimate of $235.47 million. Camden Property Trust had a return on equity of 5.79% and a net margin of 21.65%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.15 earnings per share.
In other Camden Property Trust news, Chairman Richard J. Campo sold 80,588 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $93.79, for a total value of $7,558,348.52. Following the completion of the transaction, the chairman now directly owns 291,383 shares in the company, valued at $27,328,811.57. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO H Malcolm Stewart sold 21,017 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $94.47, for a total transaction of $1,985,475.99. Following the completion of the transaction, the chief operating officer now owns 187,430 shares of the company’s stock, valued at $17,706,512.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 245,731 shares of company stock valued at $23,087,928. Company insiders own 4.70% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of CPT. Citadel Advisors LLC boosted its position in shares of Camden Property Trust by 145.5% in the first quarter. Citadel Advisors LLC now owns 1,383,057 shares of the real estate investment trust’s stock worth $116,426,000 after purchasing an additional 819,745 shares during the period. Millennium Management LLC lifted its holdings in shares of Camden Property Trust by 138.9% in the first quarter. Millennium Management LLC now owns 875,619 shares of the real estate investment trust’s stock worth $73,710,000 after buying an additional 509,066 shares in the last quarter. Centersquare Investment Management LLC lifted its holdings in shares of Camden Property Trust by 13.0% in the second quarter. Centersquare Investment Management LLC now owns 2,481,175 shares of the real estate investment trust’s stock worth $226,110,000 after buying an additional 285,268 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Camden Property Trust by 1,134.5% in the second quarter. Voya Investment Management LLC now owns 301,756 shares of the real estate investment trust’s stock worth $27,499,000 after buying an additional 277,313 shares in the last quarter. Finally, Standard Life Aberdeen plc purchased a new position in shares of Camden Property Trust in the second quarter worth $21,565,000. Institutional investors and hedge funds own 93.91% of the company’s stock.
Shares of NYSE CPT opened at $94.54 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market cap of $8.78 billion, a P/E ratio of 20.87, a price-to-earnings-growth ratio of 3.17 and a beta of 0.27. Camden Property Trust has a 12-month low of $78.19 and a 12-month high of $95.67.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 17th. Shareholders of record on Friday, September 28th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.26%. Camden Property Trust’s payout ratio 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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