Zacks: Brokerages Expect Camden Property Trust (NYSE:CPT) Will Post Earnings of $1.61 Per Share

Equities research analysts predict that Camden Property Trust (NYSE:CPTGet Rating) will post earnings of $1.61 per share for the current quarter, Zacks reports. Seven analysts have issued estimates for Camden Property Trust’s earnings. The lowest EPS estimate is $1.57 and the highest is $1.65. Camden Property Trust reported earnings of $1.28 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 25.8%. The business is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Camden Property Trust will report full-year earnings of $6.50 per share for the current financial year, with EPS estimates ranging from $6.26 to $6.62. For the next year, analysts forecast that the firm will post earnings of $7.12 per share, with EPS estimates ranging from $6.73 to $7.53. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Camden Property Trust.

Camden Property Trust (NYSE:CPTGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($1.07). The firm had revenue of $311.36 million during the quarter, compared to analyst estimates of $308.90 million. Camden Property Trust had a net margin of 29.75% and a return on equity of 8.67%. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.24 earnings per share.

Several brokerages have issued reports on CPT. Truist Financial dropped their price objective on shares of Camden Property Trust from $186.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday. Mizuho lowered their price target on shares of Camden Property Trust from $179.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 16th. Barclays lowered their price target on shares of Camden Property Trust from $193.00 to $174.00 in a research note on Tuesday, May 10th. StockNews.com assumed coverage on shares of Camden Property Trust in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, TheStreet raised shares of Camden Property Trust from a “c+” rating to a “b” rating in a research note on Thursday, February 3rd. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Camden Property Trust presently has an average rating of “Buy” and a consensus target price of $172.43.

CPT traded up $3.08 during trading on Friday, hitting $144.98. The stock had a trading volume of 538,037 shares, compared to its average volume of 1,153,903. The company has a debt-to-equity ratio of 0.86, a quick ratio of 5.55 and a current ratio of 5.55. The firm has a market capitalization of $15.44 billion, a P/E ratio of 43.02, a PEG ratio of 3.51 and a beta of 0.77. The company’s 50-day moving average price is $157.53 and its 200 day moving average price is $163.81. Camden Property Trust has a twelve month low of $124.21 and a twelve month high of $180.37.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Camden Property Trust by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 14,955,322 shares of the real estate investment trust’s stock valued at $2,485,575,000 after purchasing an additional 412,019 shares in the last quarter. BlackRock Inc. lifted its holdings in Camden Property Trust by 6.5% in the 4th quarter. BlackRock Inc. now owns 12,700,923 shares of the real estate investment trust’s stock valued at $2,269,400,000 after purchasing an additional 775,072 shares in the last quarter. Cohen & Steers Inc. purchased a new position in Camden Property Trust in the 1st quarter valued at about $1,220,455,000. State Street Corp lifted its holdings in Camden Property Trust by 9.8% in the 1st quarter. State Street Corp now owns 6,066,515 shares of the real estate investment trust’s stock valued at $1,013,817,000 after purchasing an additional 540,683 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Camden Property Trust by 2.2% in the 1st quarter. JPMorgan Chase & Co. now owns 3,667,125 shares of the real estate investment trust’s stock valued at $609,475,000 after purchasing an additional 79,684 shares in the last quarter. Institutional investors own 92.35% of the company’s stock.

About Camden Property Trust (Get Rating)

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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