Camden Property Trust (CPT) reported quarterly earnings results on Thursday, Jul-28-2016. The company reported $1.15 EPS for the quarter. Analysts had a consensus estimate of $1.15. The company posted revenue of $221.50 million in the period, compared to analysts expectations of $221.81 million. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS.
Many Wall Street Analysts have commented on Camden Property Trust. Camden Property Trust was Downgraded by SunTrust to ” Neutral” on Jun 2, 2016. Camden Property Trust was Downgraded by Citigroup to ” Neutral” on May 9, 2016. Company shares were Reiterated by RBC Capital Mkts on May 2, 2016 to “Outperform”, Firm has raised the Price Target to $ 91 from a previous price target of $87 .
Camden Property Trust opened for trading at $86.36 and hit $87.08 on the upside on Thursday, eventually ending the session at $86.81, with a gain of 0.52% or 0.45 points. The heightened volatility saw the trading volume jump to 6,09,043 shares. Company has a market cap of $7,552 M.
In a different news, on Jun 27, 2016, William W. Sengelmann (EVP – Real Estate Investments) sold 2,398 shares at $84.50 per share price. According to the SEC, on May 31, 2016, Alexander J. Jessett (EVP – Finance & CFO) sold 11,936 shares at $85.07 per share price. On May 31, 2016, William F Paulsen (director) sold 1,460 shares at $85.10 per share price, according to the Form-4 filing with the securities and exchange commission.
Camden Property Trust is a real estate investment trust (REIT). The Company is engaged in the ownership management development redevelopment acquisition and construction of multifamily apartment communities. The Companies properties consist of mid-rise buildings or two and three story buildings in a landscaped setting and provide residents with various amenities common to multifamily rental properties. As of December 31 2014 the Company owned interests in operated or was developing 181 multifamily properties consisting of 63163 apartment homes across the United States. The Company’s properties include Camden Copper Square Camden Montierra Camden Sea Palms Camden Tuscany Camden Belleview Station Camden Denver West Camden Fallsgrove Camden Summerfield Camden Bay Camden Brookwood and Camden Ballantyne among others.