SunTrust Banks Comments on Camden Property Trust’s FY2017 Earnings (CPT)
Camden Property Trust (NYSE:CPT) – Equities research analysts at SunTrust Banks boosted their FY2017 earnings estimates for shares of Camden Property Trust in a research note issued on Tuesday. SunTrust Banks analyst M. Lewis now forecasts that the real estate investment trust will post earnings per share of $4.60 for the year, up from their prior forecast of $4.58. SunTrust Banks also issued estimates for Camden Property Trust’s FY2020 earnings at $5.36 EPS and FY2021 earnings at $5.60 EPS.
CPT has been the topic of a number of other research reports. Royal Bank Of Canada reiterated a “buy” rating and set a $91.00 price target on shares of Camden Property Trust in a report on Sunday, July 16th. Barclays PLC lifted their price target on Camden Property Trust from $85.00 to $86.00 and gave the company an “equal weight” rating in a report on Tuesday, July 18th. BTIG Research upgraded Camden Property Trust from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Monday, April 24th. BMO Capital Markets upgraded Camden Property Trust from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $81.00 to $89.00 in a research note on Thursday, May 25th. They noted that the move was a valuation call. Finally, Evercore ISI upgraded Camden Property Trust from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $87.00 to $90.00 in a research note on Thursday, May 18th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $88.42.
Camden Property Trust (NYSE CPT) traded down 0.01% during trading on Friday, reaching $89.79. The company had a trading volume of 69,218 shares. Camden Property Trust has a 12 month low of $75.36 and a 12 month high of $90.83. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 20.09 and a beta of 0.37. The stock has a 50 day moving average price of $87.57 and a 200 day moving average price of $83.96.
Camden Property Trust (NYSE:CPT) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.02. Camden Property Trust had a return on equity of 13.17% and a net margin of 46.10%. The firm had revenue of $222.40 million for the quarter, compared to the consensus estimate of $222.44 million. During the same period in the prior year, the business posted $1.15 earnings per share. The firm’s revenue for the quarter was up .4% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a $0.75 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.34%. Camden Property Trust’s dividend payout ratio is currently 67.11%.
In other Camden Property Trust news, EVP Alexander J. Jessett sold 11,788 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $89.81, for a total value of $1,058,680.28. Following the completion of the sale, the executive vice president now owns 56,783 shares of the company’s stock, valued at $5,099,681.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President D Keith Oden sold 86,540 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $89.43, for a total value of $7,739,272.20. The disclosure for this sale can be found here. Insiders sold 120,811 shares of company stock valued at $10,812,185 in the last ninety days. Insiders own 4.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new position in Camden Property Trust during the fourth quarter valued at $647,000. Teachers Advisors LLC boosted its position in Camden Property Trust by 6.9% in the fourth quarter. Teachers Advisors LLC now owns 109,256 shares of the real estate investment trust’s stock valued at $9,185,000 after buying an additional 7,018 shares in the last quarter. Macquarie Group Ltd. boosted its position in Camden Property Trust by 3.7% in the fourth quarter. Macquarie Group Ltd. now owns 28,002 shares of the real estate investment trust’s stock valued at $2,354,000 after buying an additional 1,000 shares in the last quarter. Creative Planning boosted its position in Camden Property Trust by 3.1% in the first quarter. Creative Planning now owns 2,638 shares of the real estate investment trust’s stock valued at $212,000 after buying an additional 80 shares in the last quarter. Finally, Gulf International Bank UK Ltd boosted its position in Camden Property Trust by 0.4% in the first quarter. Gulf International Bank UK Ltd now owns 27,170 shares of the real estate investment trust’s stock valued at $2,186,000 after buying an additional 100 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.
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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