Zacks: Analysts Anticipate Camden Property Trust (NYSE:CPT) Will Post Quarterly Sales of $269.91 Million

Brokerages forecast that Camden Property Trust (NYSE:CPT) will post sales of $269.91 million for the current quarter, Zacks reports. Seven analysts have provided estimates for Camden Property Trust’s earnings. The highest sales estimate is $274.90 million and the lowest is $264.26 million. Camden Property Trust posted sales of $250.68 million in the same quarter last year, which suggests a positive year-over-year growth rate of 7.7%. The firm is scheduled to issue its next earnings report on Thursday, July 29th.

On average, analysts expect that Camden Property Trust will report full-year sales of $1.09 billion for the current financial year, with estimates ranging from $1.06 billion to $1.11 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.14 billion, with estimates ranging from $1.09 billion to $1.17 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Camden Property Trust.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings results on Thursday, April 29th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.92). Camden Property Trust had a return on equity of 3.16% and a net margin of 10.71%.

Several brokerages have weighed in on CPT. Truist Securities upped their target price on shares of Camden Property Trust from $116.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, June 4th. JPMorgan Chase & Co. restated a “neutral” rating and set a $125.00 target price on shares of Camden Property Trust in a research report on Wednesday, May 26th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Camden Property Trust from $120.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, May 26th. Zacks Investment Research upgraded shares of Camden Property Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, April 13th. Finally, Wells Fargo & Company upped their target price on shares of Camden Property Trust from $108.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, May 13th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $119.86.

Shares of Camden Property Trust stock traded up $2.21 on Friday, reaching $135.04. 792,914 shares of the stock were exchanged, compared to its average volume of 735,963. Camden Property Trust has a 1-year low of $85.74 and a 1-year high of $135.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.86 and a quick ratio of 1.86. The stock’s fifty day simple moving average is $120.60. The firm has a market capitalization of $13.19 billion, a price-to-earnings ratio of 118.60, a PEG ratio of 6.17 and a beta of 0.71.

In related news, Director Frances Aldrich Sevilla-Sacasa sold 1,777 shares of the company’s stock in a transaction that occurred on Monday, May 10th. The shares were sold at an average price of $123.55, for a total transaction of $219,548.35. Following the transaction, the director now owns 19,378 shares of the company’s stock, valued at $2,394,151.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Laurie Baker sold 468 shares of the company’s stock in a transaction that occurred on Tuesday, May 4th. The shares were sold at an average price of $120.48, for a total transaction of $56,384.64. Following the transaction, the executive vice president now directly owns 48,101 shares in the company, valued at approximately $5,795,208.48. The disclosure for this sale can be found here. Insiders sold 16,263 shares of company stock worth $1,898,976 in the last ninety days. Insiders own 2.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in CPT. Starwood Capital Group Management L.L.C. purchased a new position in shares of Camden Property Trust during the fourth quarter valued at approximately $129,811,000. Norges Bank purchased a new position in shares of Camden Property Trust during the fourth quarter valued at approximately $90,104,000. Lasalle Investment Management Securities LLC lifted its stake in shares of Camden Property Trust by 10,029.2% during the first quarter. Lasalle Investment Management Securities LLC now owns 793,113 shares of the real estate investment trust’s stock valued at $87,171,000 after buying an additional 785,283 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Camden Property Trust by 132.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,166,007 shares of the real estate investment trust’s stock worth $128,156,000 after purchasing an additional 663,363 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Camden Property Trust by 28.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,825,817 shares of the real estate investment trust’s stock worth $310,586,000 after purchasing an additional 629,415 shares during the period. 93.19% of the stock is currently owned by institutional investors and hedge funds.

Camden Property Trust Company Profile

Camden Property Trust, an S&P 400 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 167 properties containing 56,850 apartment homes across the United States.

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

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