Camden Property Trust (CPT) Posts Earnings Results, Hits Estimates

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Camden Property Trust (NYSE:CPT) released its quarterly earnings data on Thursday. The real estate investment trust reported $1.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.22, Bloomberg Earnings reports. The firm had revenue of $248.57 million during the quarter, compared to analyst estimates of $246.50 million. Camden Property Trust had a return on equity of 4.56% and a net margin of 16.36%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.15 earnings per share. Camden Property Trust updated its Q2 guidance to $1.24-1.28 EPS and its FY19 guidance to $4.99-5.15 EPS.

Shares of Camden Property Trust stock opened at $100.09 on Friday. Camden Property Trust has a 12 month low of $82.60 and a 12 month high of $103.41. The company has a market cap of $9.92 billion, a P/E ratio of 20.98, a PEG ratio of 3.23 and a beta of 0.53. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.33 and a quick ratio of 0.33.

A number of equities analysts have recently weighed in on the company. Barclays reaffirmed a “buy” rating and issued a $108.00 price objective on shares of Camden Property Trust in a research note on Tuesday, April 16th. Sandler O’Neill lowered Camden Property Trust from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. KeyCorp upped their price objective on Camden Property Trust from $98.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Citigroup set a $100.00 price objective on Camden Property Trust and gave the stock a “hold” rating in a research note on Tuesday, February 5th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Camden Property Trust in a research note on Thursday, January 31st. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $99.94.

In related news, Director William F. Paulsen sold 2,890 shares of the stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $97.17, for a total transaction of $280,821.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of CPT. Oregon Public Employees Retirement Fund raised its position in Camden Property Trust by 8,705.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,206,341 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 3,169,926 shares during the period. Resolution Capital Ltd purchased a new stake in Camden Property Trust during the first quarter valued at approximately $80,234,000. Norges Bank purchased a new stake in Camden Property Trust during the fourth quarter valued at approximately $60,080,000. BlackRock Inc. raised its position in Camden Property Trust by 3.9% during the fourth quarter. BlackRock Inc. now owns 12,776,516 shares of the real estate investment trust’s stock valued at $1,124,973,000 after purchasing an additional 481,528 shares during the period. Finally, Bank of Montreal Can raised its position in Camden Property Trust by 5,077.4% during the fourth quarter. Bank of Montreal Can now owns 315,511 shares of the real estate investment trust’s stock valued at $27,781,000 after purchasing an additional 309,417 shares during the period. Institutional investors and hedge funds own 88.63% of the company’s stock.

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Camden Property Trust Company Profile

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.

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Earnings History for Camden Property Trust (NYSE:CPT)

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