SunTrust Banks, Inc. reissued their hold rating on shares of Camden Property Trust (NYSE:CPT) in a research report sent to investors on Wednesday. SunTrust Banks, Inc. currently has a $93.00 price target on the real estate investment trust’s stock. SunTrust Banks also issued estimates for Camden Property Trust’s Q3 2017 earnings at $1.13 EPS, Q4 2017 earnings at $1.21 EPS, FY2017 earnings at $4.56 EPS, FY2018 earnings at $4.95 EPS, FY2019 earnings at $5.13 EPS, FY2020 earnings at $5.44 EPS and FY2021 earnings at $5.66 EPS.
A number of other analysts also recently commented on the stock. Royal Bank Of Canada boosted their target price on shares of Camden Property Trust from $91.00 to $95.00 and gave the stock an outperform rating in a report on Monday, August 7th. BidaskClub upgraded shares of Camden Property Trust from a sell rating to a hold rating in a report on Wednesday, June 14th. KeyCorp boosted their target price on shares of Camden Property Trust from $93.00 to $98.00 and gave the stock an overweight rating in a report on Friday, September 15th. Sandler O’Neill upgraded shares of Camden Property Trust from a hold rating to a buy rating and boosted their target price for the stock from $93.00 to $105.00 in a report on Tuesday, September 5th. Finally, Stifel Nicolaus started coverage on shares of Camden Property Trust in a report on Friday, September 1st. They issued a buy rating and a $99.00 target price on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. Camden Property Trust currently has a consensus rating of Buy and an average target price of $92.20.
Shares of Camden Property Trust (NYSE CPT) traded down 0.18% on Wednesday, reaching $92.41. 682,016 shares of the company’s stock were exchanged. The company has a market capitalization of $8.10 billion, a P/E ratio of 20.67 and a beta of 0.41. Camden Property Trust has a 1-year low of $75.36 and a 1-year high of $96.39. The stock’s 50-day moving average price is $91.95 and its 200-day moving average price is $86.65.
Camden Property Trust (NYSE:CPT) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. Camden Property Trust had a net margin of 46.10% and a return on equity of 13.17%. The company had revenue of $222.40 million for the quarter, compared to the consensus estimate of $222.44 million. During the same period in the previous year, the firm earned $1.15 EPS. Camden Property Trust’s revenue was up .4% on a year-over-year basis. Analysts anticipate that Camden Property Trust will post $1.73 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.75 per share. The ex-dividend date is Thursday, September 28th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.25%. Camden Property Trust’s dividend payout ratio is currently 67.11%.
In other news, EVP William W. Sengelmann sold 5,085 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $90.15, for a total transaction of $458,412.75. Following the sale, the executive vice president now owns 71,836 shares in the company, valued at $6,476,015.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William W. Sengelmann sold 763 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $89.76, for a total transaction of $68,486.88. Following the sale, the executive vice president now owns 71,836 shares in the company, valued at approximately $6,447,999.36. The disclosure for this sale can be found here. Insiders have sold 118,584 shares of company stock worth $10,618,035 in the last 90 days. 4.70% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in CPT. YorkBridge Wealth Partners LLC raised its holdings in shares of Camden Property Trust by 6.1% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,171 shares of the real estate investment trust’s stock valued at $101,000 after acquiring an additional 67 shares during the period. Perigon Wealth Management LLC acquired a new stake in shares of Camden Property Trust during the first quarter valued at approximately $110,000. Laurion Capital Management LP acquired a new stake in shares of Camden Property Trust during the first quarter valued at approximately $201,000. Eqis Capital Management Inc. acquired a new stake in shares of Camden Property Trust during the second quarter valued at approximately $201,000. Finally, Sawtooth Solutions LLC raised its holdings in shares of Camden Property Trust by 2.7% during the second quarter. Sawtooth Solutions LLC now owns 2,701 shares of the real estate investment trust’s stock valued at $231,000 after acquiring an additional 72 shares during the period. Institutional investors and hedge funds own 90.58% of the company’s stock.
About Camden Property Trust
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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