Camden Property Trust (NYSE:CPT) Expected to Post Quarterly Sales of $268.35 Million


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Equities analysts expect that Camden Property Trust (NYSE:CPT) will post sales of $268.35 million for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Camden Property Trust’s earnings. The lowest sales estimate is $264.26 million and the highest is $271.40 million. Camden Property Trust reported sales of $250.68 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7%. The business is scheduled to issue its next earnings results on Thursday, July 29th.

According to Zacks, analysts expect that Camden Property Trust will report full year sales of $1.08 billion for the current financial year, with estimates ranging from $1.06 billion to $1.10 billion. For the next financial year, analysts anticipate that the business will post sales of $1.12 billion, with estimates ranging from $1.09 billion to $1.16 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Camden Property Trust.

Camden Property Trust (NYSE:CPT) last announced its quarterly earnings data on Thursday, April 29th. The real estate investment trust reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.92). Camden Property Trust had a return on equity of 5.22% and a net margin of 18.14%.

A number of brokerages have recently issued reports on CPT. Piper Sandler increased their target price on Camden Property Trust from $116.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, April 23rd. Deutsche Bank Aktiengesellschaft increased their target price on Camden Property Trust from $107.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, March 24th. Colliers Securities began coverage on Camden Property Trust in a report on Wednesday, April 28th. They issued a “buy” rating and a $134.00 target price for the company. Mizuho increased their target price on Camden Property Trust from $103.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, March 15th. Finally, Zacks Investment Research raised Camden Property Trust from a “sell” rating to a “hold” rating in a report on Tuesday, April 13th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Camden Property Trust has a consensus rating of “Buy” and a consensus target price of $112.57.

In other Camden Property Trust news, Director William F. Paulsen sold 5,500 shares of the stock in a transaction on Tuesday, March 23rd. The stock was sold at an average price of $108.57, for a total value of $597,135.00. Following the transaction, the director now directly owns 2,463 shares in the company, valued at approximately $267,407.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.20% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of CPT. Arkadios Wealth Advisors boosted its position in shares of Camden Property Trust by 120.2% in the 1st quarter. Arkadios Wealth Advisors now owns 240 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 131 shares during the last quarter. Whittier Trust Co. bought a new position in shares of Camden Property Trust in the 1st quarter worth $40,000. TD Ameritrade Investment Management LLC bought a new position in shares of Camden Property Trust in the 4th quarter worth $74,000. Trust Co. of Vermont bought a new position in shares of Camden Property Trust in the 4th quarter worth $90,000. Finally, Founders Capital Management bought a new position in shares of Camden Property Trust in the 4th quarter worth $115,000. Institutional investors and hedge funds own 94.56% of the company’s stock.

Shares of CPT stock traded down $0.68 during mid-day trading on Thursday, reaching $119.31. The stock had a trading volume of 450,056 shares, compared to its average volume of 701,661. Camden Property Trust has a one year low of $80.79 and a one year high of $121.42. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.90. The firm’s 50 day simple moving average is $113.60 and its 200 day simple moving average is $103.06. The firm has a market cap of $11.92 billion, a PE ratio of 63.15, a P/E/G ratio of 4.56 and a beta of 0.72.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 16th. Shareholders of record on Wednesday, March 31st were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 2.78%. This is a positive change from Camden Property Trust’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Tuesday, March 30th. Camden Property Trust’s dividend payout ratio (DPR) is presently 65.87%.

About Camden Property Trust

Camden Property Trust, an S&P 400 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 167 properties containing 56,850 apartment homes across the United States.

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Earnings History and Estimates for Camden Property Trust (NYSE:CPT)

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