$234.63 Million in Sales Expected for Camden Property Trust (CPT) This Quarter

Equities research analysts expect that Camden Property Trust (NYSE:CPT) will announce sales of $234.63 million for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Camden Property Trust’s earnings, with estimates ranging from $231.14 million to $237.77 million. Camden Property Trust reported sales of $223.37 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 5%. The firm is expected to report its next quarterly earnings results on Thursday, July 26th.

On average, analysts expect that Camden Property Trust will report full year sales of $946.31 million for the current fiscal year, with estimates ranging from $925.50 million to $964.24 million. For the next fiscal year, analysts anticipate that the business will post sales of $994.64 million per share, with estimates ranging from $932.93 million to $1.02 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Camden Property Trust.

Camden Property Trust (NYSE:CPT) last released its quarterly earnings results on Thursday, May 3rd. The real estate investment trust reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.72). Camden Property Trust had a net margin of 22.03% and a return on equity of 5.97%. The firm had revenue of $230.70 million for the quarter, compared to analysts’ expectations of $230.71 million. During the same quarter in the previous year, the business earned $1.09 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis.

A number of equities research analysts have weighed in on CPT shares. Robert W. Baird restated a “hold” rating and set a $88.00 price target on shares of Camden Property Trust in a research report on Friday, March 2nd. BMO Capital Markets set a $96.00 price target on Camden Property Trust and gave the company a “buy” rating in a research report on Wednesday, January 24th. Zacks Investment Research upgraded Camden Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, January 24th. SunTrust Banks set a $89.00 price objective on Camden Property Trust and gave the company a “hold” rating in a research note on Monday, January 22nd. Finally, UBS raised Camden Property Trust from a “sell” rating to a “neutral” rating and raised their price objective for the company from $78.69 to $84.00 in a research note on Monday, March 19th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $90.69.

Camden Property Trust opened at $82.96 on Monday, according to Marketbeat.com. Camden Property Trust has a twelve month low of $78.19 and a twelve month high of $96.39. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 2.82 and a beta of 0.35.

Several large investors have recently made changes to their positions in the company. Fort Washington Investment Advisors Inc. OH grew its stake in shares of Camden Property Trust by 5.6% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 11,300 shares of the real estate investment trust’s stock valued at $951,000 after buying an additional 600 shares during the last quarter. 6 Meridian grew its stake in shares of Camden Property Trust by 13.2% in the first quarter. 6 Meridian now owns 5,632 shares of the real estate investment trust’s stock worth $474,000 after purchasing an additional 655 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Camden Property Trust by 1.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 68,400 shares of the real estate investment trust’s stock worth $5,758,000 after purchasing an additional 683 shares during the last quarter. Global X Management Co. LLC grew its stake in shares of Camden Property Trust by 45.3% in the fourth quarter. Global X Management Co. LLC now owns 2,309 shares of the real estate investment trust’s stock worth $213,000 after purchasing an additional 720 shares during the last quarter. Finally, Comerica Bank grew its stake in shares of Camden Property Trust by 1.0% in the first quarter. Comerica Bank now owns 78,243 shares of the real estate investment trust’s stock worth $6,645,000 after purchasing an additional 749 shares during the last quarter. 99.57% of the stock is currently owned by hedge funds and other institutional investors.

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 156 properties containing 53,391 apartment homes across the United States.

Get a free copy of the Zacks research report on Camden Property Trust (CPT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Camden Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Camden Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply