Camden Property Trust (CPT) Issues FY19 Earnings Guidance

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Camden Property Trust (NYSE:CPT) issued an update on its FY19 earnings guidance on Thursday morning. The company provided EPS guidance of $4.97-5.17 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.05. Camden Property Trust also updated its Q1 guidance to $1.18-1.22 EPS.

Shares of CPT traded up $0.38 during trading hours on Thursday, hitting $96.95. The stock had a trading volume of 836,700 shares, compared to its average volume of 473,114. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.20 and a quick ratio of 0.20. The company has a market cap of $8.94 billion, a PE ratio of 21.40, a P/E/G ratio of 2.93 and a beta of 0.44. Camden Property Trust has a 1-year low of $78.19 and a 1-year high of $97.08.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 17th. Stockholders of record on Friday, March 29th will be paid a $0.80 dividend. This is an increase from Camden Property Trust’s previous quarterly dividend of $0.77. This represents a $3.20 annualized dividend and a dividend yield of 3.30%. Camden Property Trust’s dividend payout ratio (DPR) is currently 67.99%.

Several brokerages recently weighed in on CPT. Barclays reaffirmed a hold rating and issued a $87.00 price target on shares of Camden Property Trust in a research report on Sunday, October 14th. Citigroup raised their price target on shares of Camden Property Trust from $95.00 to $96.00 and gave the company a hold rating in a research report on Tuesday, October 30th. Janney Montgomery Scott raised shares of Camden Property Trust from a neutral rating to a buy rating and set a $99.00 price target on the stock in a research report on Wednesday, December 19th. Wells Fargo & Co set a $99.00 price target on shares of Camden Property Trust and gave the company a hold rating in a research report on Tuesday, November 6th. Finally, ValuEngine raised shares of Camden Property Trust from a hold rating to a buy rating in a research report on Wednesday, October 24th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $96.67.

In other Camden Property Trust news, insider Michael P. Gallagher sold 1,841 shares of Camden Property Trust stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $94.38, for a total transaction of $173,753.58. Following the transaction, the insider now owns 24,783 shares of the company’s stock, valued at approximately $2,339,019.54. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO H Malcolm Stewart sold 27,474 shares of Camden Property Trust stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $94.84, for a total transaction of $2,605,634.16. Following the transaction, the chief operating officer now directly owns 172,227 shares in the company, valued at approximately $16,334,008.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,659 shares of company stock worth $9,758,784. Insiders own 3.90% 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 159 properties containing 54,480 apartment homes across the United States.

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

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