Camden Property Trust (NYSE:CPT) Releases Earnings Results, Beats Estimates By $0.05 EPS

Camden Property Trust (NYSE:CPT) released its quarterly earnings results on Thursday. The real estate investment trust reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.05, Zacks reports. Camden Property Trust had a return on equity of 6.97% and a net margin of 22.32%.

Camden Property Trust Stock Performance

CPT traded up $1.55 during trading on Thursday, hitting $117.82. 1,192,236 shares of the stock were exchanged, compared to its average volume of 838,641. The stock has a fifty day moving average price of $115.82 and a two-hundred day moving average price of $118.86. Camden Property Trust has a 1-year low of $90.50 and a 1-year high of $127.69. The firm has a market capitalization of $12.57 billion, a P/E ratio of 37.29, a PEG ratio of 4.13 and a beta of 0.94. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.72.

Camden Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Wednesday, December 18th were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.50%. The ex-dividend date was Wednesday, December 18th. Camden Property Trust’s dividend payout ratio (DPR) is 130.38%.

Insider Buying and Selling at Camden Property Trust

In related news, CEO Richard J. Campo sold 1,043 shares of Camden Property Trust stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $110.06, for a total value of $114,792.58. Following the sale, the chief executive officer now directly owns 299,092 shares in the company, valued at $32,918,065.52. The trade was a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Heather J. Brunner sold 264 shares of Camden Property Trust stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total value of $29,055.84. Following the completion of the sale, the director now owns 10,273 shares in the company, valued at approximately $1,130,646.38. This trade represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,413 shares of company stock worth $2,895,718. 1.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CPT. Jefferies Financial Group began coverage on Camden Property Trust in a report on Friday, October 11th. They set a “hold” rating and a $123.00 target price for the company. Barclays lowered their target price on Camden Property Trust from $138.00 to $126.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Wells Fargo & Company lowered their target price on Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Scotiabank reduced their price target on Camden Property Trust from $132.00 to $130.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Finally, Stifel Nicolaus lowered Camden Property Trust from a “buy” rating to a “hold” rating and increased their price target for the company from $120.00 to $121.00 in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $125.36.

About Camden Property Trust

Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 172 properties containing 58,250 apartment homes across the United States.