Camden Property Trust (NYSE:CPT) issued an update on its FY16 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.50-4.60 for the period, compared to the Thomson Reuters consensus estimate of $4.56. Camden Property Trust also updated its Q3 guidance to $1.07-1.11 EPS.
Shares of Camden Property Trust (NYSE:CPT) traded up 0.52% during mid-day trading on Thursday, reaching $86.81. The company’s stock had a trading volume of 611,318 shares. The company has a 50-day moving average of $86.46 and a 200-day moving average of $81.34. The company has a market cap of $7.55 billion and a P/E ratio of 44.77. Camden Property Trust has a 12 month low of $67.27 and a 12 month high of $90.91.
Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, July 28th. The real estate investment trust reported $1.15 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.15. During the same quarter in the prior year, the company posted $1.12 earnings per share. The firm had revenue of $221.50 million for the quarter, compared to analysts’ expectations of $220.32 million. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts forecast that Camden Property Trust will post $4.56 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on the stock. Credit Suisse Group AG reiterated a hold rating on shares of Camden Property Trust in a report on Saturday, April 30th. Zacks Investment Research lowered shares of Camden Property Trust from a buy rating to a hold rating in a report on Wednesday, May 4th. SunTrust Banks Inc. lowered shares of Camden Property Trust from a buy rating to a neutral rating and dropped their target price for the stock from $87.00 to $84.00 in a report on Thursday, June 2nd. They noted that the move was a valuation call. Deutsche Bank AG reiterated a hold rating and set a $84.00 target price on shares of Camden Property Trust in a report on Tuesday, May 3rd. Finally, Wells Fargo & Co. reiterated a hold rating on shares of Camden Property Trust in a report on Tuesday, May 10th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. Camden Property Trust has a consensus rating of Hold and a consensus price target of $86.73.
In related news, Director Lewis A. Levey sold 10,000 shares of Camden Property Trust stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $83.02, for a total transaction of $830,200.00. Following the transaction, the director now owns 8,615 shares in the company, valued at approximately $715,217.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William F. Paulsen sold 1,460 shares of Camden Property Trust stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $85.10, for a total transaction of $124,246.00. Following the transaction, the director now owns 24,909 shares in the company, valued at approximately $2,119,755.90. The disclosure for this sale can be found here.
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. The Company operates in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities segment.
