FY2019 EPS Estimates for Camden Property Trust (NYSE:CPT) Lowered by Analyst

Camden Property Trust (NYSE:CPT) – Equities researchers at SunTrust Banks lowered their FY2019 earnings estimates for shares of Camden Property Trust in a report issued on Tuesday, December 3rd. SunTrust Banks analyst M. Lewis now anticipates that the real estate investment trust will post earnings per share of $5.01 for the year, down from their previous estimate of $5.07. SunTrust Banks also issued estimates for Camden Property Trust’s Q1 2020 earnings at $1.32 EPS, FY2021 earnings at $5.71 EPS, FY2022 earnings at $5.95 EPS and FY2023 earnings at $6.11 EPS.

Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.28 by ($0.84). Camden Property Trust had a return on equity of 4.53% and a net margin of 16.22%. The firm had revenue of $260.67 million for the quarter, compared to analyst estimates of $259.56 million. During the same period in the prior year, the business posted $1.20 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year.

CPT has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Camden Property Trust from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Goldman Sachs Group initiated coverage on shares of Camden Property Trust in a report on Friday, November 8th. They set a “buy” rating and a $124.00 target price on the stock. BMO Capital Markets reiterated a “buy” rating and issued a $115.00 price target on shares of Camden Property Trust in a research report on Monday, November 4th. JPMorgan Chase & Co. lifted their price target on shares of Camden Property Trust from $110.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Barclays reiterated a “buy” rating and issued a $124.00 price target on shares of Camden Property Trust in a research note on Sunday, October 13th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Camden Property Trust currently has an average rating of “Buy” and a consensus price target of $113.43.

NYSE:CPT opened at $110.48 on Friday. Camden Property Trust has a 52 week low of $83.67 and a 52 week high of $116.67. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.76 and a current ratio of 0.76. The firm’s 50-day simple moving average is $112.25 and its 200 day simple moving average is $108.56. The firm has a market cap of $10.70 billion, a price-to-earnings ratio of 23.16, a P/E/G ratio of 3.27 and a beta of 0.38.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.20 dividend on an annualized basis and a yield of 2.90%. Camden Property Trust’s payout ratio is 67.09%.

In related news, CEO Richard J. Campo sold 23,308 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $111.88, for a total transaction of $2,607,699.04. Following the sale, the chief executive officer now owns 253,664 shares in the company, valued at approximately $28,379,928.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman D Keith Oden sold 89,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $112.92, for a total transaction of $10,049,880.00. Over the last three months, insiders sold 161,591 shares of company stock worth $18,191,363. Insiders own 3.40% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Camden Property Trust by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 14,426,035 shares of the real estate investment trust’s stock valued at $1,505,934,000 after purchasing an additional 255,978 shares in the last quarter. BlackRock Inc. lifted its position in shares of Camden Property Trust by 0.8% during the 2nd quarter. BlackRock Inc. now owns 13,289,889 shares of the real estate investment trust’s stock worth $1,387,330,000 after buying an additional 104,896 shares during the last quarter. State Street Corp lifted its position in shares of Camden Property Trust by 1.2% during the 3rd quarter. State Street Corp now owns 6,020,883 shares of the real estate investment trust’s stock worth $673,127,000 after buying an additional 71,653 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of Camden Property Trust by 200.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,446,092 shares of the real estate investment trust’s stock worth $255,348,000 after buying an additional 1,632,600 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Camden Property Trust by 4.7% in the second quarter. Northern Trust Corp now owns 1,339,826 shares of the real estate investment trust’s stock valued at $139,864,000 after buying an additional 60,020 shares in the last quarter. 93.04% of the stock is currently owned by institutional investors and hedge funds.

About Camden Property Trust

Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 161 properties containing 55,160 apartment homes across the United States.

Read More: Preferred Stock

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

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