Camden Property Trust (CPT) Given Hold Rating at SunTrust Banks, Inc.
SunTrust Banks, Inc. restated their hold rating on shares of Camden Property Trust (NYSE:CPT) in a report released on Wednesday morning. The firm currently has a $93.00 price objective 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 equities research analysts have also issued reports on CPT. KeyCorp raised shares of Camden Property Trust from a sector weight rating to an overweight rating and set a $93.00 target price for the company in a research note on Tuesday, June 13th. They noted that the move was a valuation call. BidaskClub raised shares of Camden Property Trust from a sell rating to a hold rating in a research note on Wednesday, June 14th. Royal Bank Of Canada reaffirmed a buy rating and issued a $91.00 price objective on shares of Camden Property Trust in a research note on Sunday, July 16th. Barclays PLC lifted their price objective on shares of Camden Property Trust from $85.00 to $86.00 and gave the company an equal weight rating in a research note on Tuesday, July 18th. Finally, Deutsche Bank AG lifted their price objective on shares of Camden Property Trust from $84.00 to $85.00 and gave the company a hold rating in a research note on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $92.20.
Camden Property Trust (NYSE:CPT) traded up 0.36% during mid-day trading on Wednesday, hitting $92.58. The stock had a trading volume of 561,376 shares. The firm’s 50-day moving average is $91.76 and its 200 day moving average is $86.52. Camden Property Trust has a one year low of $75.36 and a one year high of $96.39. The stock has a market cap of $8.12 billion, a PE ratio of 20.71 and a beta of 0.41.
Camden Property Trust (NYSE:CPT) last issued its earnings results on Thursday, July 27th. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $222.40 million during the quarter, compared to analyst estimates of $222.44 million. Camden Property Trust had a net margin of 46.10% and a return on equity of 13.17%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the business posted $1.15 EPS. Equities research analysts expect that Camden Property Trust will post $1.73 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Friday, September 29th will be issued a $0.75 dividend. The ex-dividend date is Thursday, September 28th. This represents a $3.00 annualized dividend and a yield of 3.24%. Camden Property Trust’s dividend payout ratio (DPR) is presently 67.11%.
In related news, President D Keith Oden sold 86,540 shares of Camden Property Trust stock in a transaction on Monday, August 7th. The shares were sold at an average price of $89.43, for a total value of $7,739,272.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO H Malcolm Stewart sold 11,174 shares of Camden Property Trust stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $89.75, for a total transaction of $1,002,866.50. Following the completion of the transaction, the chief operating officer now owns 253,456 shares in the company, valued at approximately $22,747,676. The disclosure for this sale can be found here. Insiders sold a total of 118,584 shares of company stock worth $10,618,035 in the last quarter. Insiders own 4.70% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund raised its holdings in Camden Property Trust by 4.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 31,988 shares of the real estate investment trust’s stock worth $2,735,000 after acquiring an additional 1,334 shares during the period. Fisher Asset Management LLC raised its holdings in Camden Property Trust by 0.6% in the 2nd quarter. Fisher Asset Management LLC now owns 31,204 shares of the real estate investment trust’s stock worth $2,668,000 after acquiring an additional 192 shares during the period. Goldman Sachs Group Inc. raised its holdings in Camden Property Trust by 9.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 993,562 shares of the real estate investment trust’s stock worth $79,942,000 after acquiring an additional 83,759 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Camden Property Trust by 20.3% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 28,377 shares of the real estate investment trust’s stock worth $2,427,000 after acquiring an additional 4,788 shares during the period. Finally, Ranger Global Real Estate Advisors LLC bought a new position in Camden Property Trust in the 1st quarter worth $3,557,000. Hedge funds and other institutional investors 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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