Camden Property Trust (NYSE:CPT) released its quarterly earnings results on Thursday. The real estate investment trust reported $1.15 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.15. During the same quarter in the previous year, the business posted $1.12 earnings per share. The business earned $221.50 million during the quarter, compared to the consensus estimate of $220.32 million. The firm’s revenue was up 7.3% on a year-over-year basis. Camden Property Trust updated its Q3 guidance to $1.07-1.11 EPS and its FY16 guidance to $4.50-4.60 EPS.
In other Camden Property Trust news, EVP William W. Sengelmann sold 2,398 shares of the company’s stock in a transaction on Friday, June 24th. The shares were sold at an average price of $84.50, for a total transaction of $202,631.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alexander J. Jessett sold 11,936 shares of the company’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $85.04, for a total transaction of $1,015,037.44. Following the transaction, the chief financial officer now owns 56,889 shares of the company’s stock, valued at $4,837,840.56. The disclosure for this sale can be found here.
Camden Property Trust (NYSE:CPT) traded up 0.52% during trading on Thursday, hitting $86.81. 611,318 shares of the company were exchanged. The company has a market capitalization of $7.55 billion and a price-to-earnings ratio of 44.77. The stock’s 50-day moving average is $86.46 and its 200-day moving average is $81.34. Camden Property Trust has a 12 month low of $67.27 and a 12 month high of $90.91.
CPT has been the topic of several recent research reports. Credit Suisse Group AG reiterated a “hold” rating on shares of Camden Property Trust in a research report on Saturday, April 30th. Royal Bank Of Canada raised their price objective on shares of Camden Property Trust from $87.00 to $91.00 and gave the company an “outperform” rating in a research report on Monday, May 2nd. BMO Capital Markets restated a “sell” rating on shares of Camden Property Trust in a research report on Friday, April 29th. Deutsche Bank AG restated a “hold” rating and set a $84.00 price objective on shares of Camden Property Trust in a research report on Tuesday, May 3rd. Finally, Zacks Investment Research downgraded shares of Camden Property Trust from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $86.73.
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.
