Camden Property Trust (NYSE:CPT) Expected to Post Quarterly Sales of $332.62 Million

Wall Street brokerages expect Camden Property Trust (NYSE:CPTGet Rating) to post sales of $332.62 million for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Camden Property Trust’s earnings, with estimates ranging from $320.08 million to $353.30 million. Camden Property Trust posted sales of $276.52 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 20.3%. The company is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Camden Property Trust will report full-year sales of $1.33 billion for the current financial year, with estimates ranging from $1.29 billion to $1.40 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.46 billion, with estimates ranging from $1.36 billion to $1.55 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Camden Property Trust.

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

Several research analysts recently commented on the company. Scotiabank dropped their price target on Camden Property Trust from $179.00 to $171.00 in a research report on Thursday, May 19th. Truist Financial dropped their target price on Camden Property Trust from $186.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, May 25th. TheStreet upgraded Camden Property Trust from a “c+” rating to a “b” rating in a research report on Thursday, February 3rd. Zacks Investment Research lowered Camden Property Trust from a “buy” rating to a “hold” rating in a report on Friday. Finally, Mizuho lowered their price target on Camden Property Trust from $179.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, February 16th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Camden Property Trust currently has a consensus rating of “Buy” and an average target price of $172.43.

A number of large investors have recently modified their holdings of CPT. Vanguard Group Inc. increased its position in shares of Camden Property Trust by 2.8% during the first quarter. Vanguard Group Inc. now owns 14,955,322 shares of the real estate investment trust’s stock worth $2,485,575,000 after purchasing an additional 412,019 shares in the last quarter. BlackRock Inc. increased its position in shares of Camden Property Trust by 6.5% during the fourth quarter. BlackRock Inc. now owns 12,700,923 shares of the real estate investment trust’s stock worth $2,269,400,000 after purchasing an additional 775,072 shares in the last quarter. Cohen & Steers Inc. acquired a new position in shares of Camden Property Trust during the first quarter worth $1,220,455,000. State Street Corp increased its position in shares of Camden Property Trust by 9.8% during the first quarter. State Street Corp now owns 6,066,515 shares of the real estate investment trust’s stock worth $1,013,817,000 after purchasing an additional 540,683 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Camden Property Trust by 2.2% during the first quarter. JPMorgan Chase & Co. now owns 3,667,125 shares of the real estate investment trust’s stock worth $609,475,000 after purchasing an additional 79,684 shares in the last quarter. 92.35% of the stock is owned by institutional investors.

CPT opened at $144.98 on Monday. The firm has a market cap of $15.44 billion, a P/E ratio of 43.02, a P/E/G ratio of 4.08 and a beta of 0.77. Camden Property Trust has a 12 month low of $124.21 and a 12 month high of $180.37. The company has a current ratio of 5.55, a quick ratio of 5.55 and a debt-to-equity ratio of 0.86. The stock has a 50-day moving average of $157.53 and a 200 day moving average of $163.79.

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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