Camden Property Trust (NYSE:CPT) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Camden Property Trust (NYSE:CPTFree Report) from a sell rating to a hold rating in a research report released on Friday morning.

CPT has been the topic of a number of other reports. Morgan Stanley assumed coverage on Camden Property Trust in a report on Tuesday, December 12th. They issued an equal weight rating and a $95.00 price target on the stock. Royal Bank of Canada lowered their price target on Camden Property Trust from $114.00 to $109.00 and set an outperform rating for the company in a research report on Monday, October 30th. BMO Capital Markets reissued a market perform rating and issued a $100.00 price objective on shares of Camden Property Trust in a report on Friday, December 15th. Evercore ISI decreased their price objective on Camden Property Trust from $117.00 to $111.00 in a report on Monday, October 9th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Camden Property Trust in a report on Tuesday, January 30th. They issued a hold rating and a $90.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Camden Property Trust has an average rating of Hold and a consensus price target of $107.24.

Get Our Latest Report on CPT

Camden Property Trust Price Performance

NYSE:CPT opened at $96.57 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.10 and a quick ratio of 0.10. The business has a 50 day simple moving average of $96.59 and a 200-day simple moving average of $98.18. Camden Property Trust has a 1 year low of $82.81 and a 1 year high of $124.95. The firm has a market capitalization of $10.31 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 3.69 and a beta of 0.84.

Camden Property Trust (NYSE:CPTGet Free Report) last issued its quarterly earnings results on Friday, February 2nd. The real estate investment trust reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.31. The firm had revenue of $387.59 million for the quarter, compared to the consensus estimate of $387.33 million. Camden Property Trust had a return on equity of 8.10% and a net margin of 26.15%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.74 earnings per share. Equities analysts forecast that Camden Property Trust will post 6.78 EPS for the current year.

Camden Property Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 17th. Stockholders of record on Friday, March 29th will be issued a dividend of $1.03 per share. This is a boost from Camden Property Trust’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend is Wednesday, March 27th. Camden Property Trust’s payout ratio is currently 108.11%.

Insider Transactions at Camden Property Trust

In related news, CFO Alexander J. Jessett sold 9,803 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $98.21, for a total value of $962,752.63. Following the transaction, the chief financial officer now directly owns 114,893 shares in the company, valued at $11,283,641.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Heather J. Brunner sold 1,325 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $98.21, for a total value of $130,128.25. Following the transaction, the director now directly owns 10,230 shares in the company, valued at $1,004,688.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alexander J. Jessett sold 9,803 shares of the company’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $98.21, for a total value of $962,752.63. Following the transaction, the chief financial officer now owns 114,893 shares in the company, valued at $11,283,641.53. The disclosure for this sale can be found here. Insiders have sold a total of 55,957 shares of company stock worth $5,495,920 in the last ninety days. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CPT. Norges Bank acquired a new position in Camden Property Trust during the fourth quarter worth $333,911,000. D1 Capital Partners L.P. increased its position in shares of Camden Property Trust by 653.2% during the second quarter. D1 Capital Partners L.P. now owns 2,737,156 shares of the real estate investment trust’s stock worth $297,994,000 after acquiring an additional 2,373,773 shares during the period. JPMorgan Chase & Co. increased its position in shares of Camden Property Trust by 41.6% during the third quarter. JPMorgan Chase & Co. now owns 4,044,988 shares of the real estate investment trust’s stock worth $382,575,000 after acquiring an additional 1,187,974 shares during the period. Victory Capital Management Inc. increased its position in shares of Camden Property Trust by 31.5% during the second quarter. Victory Capital Management Inc. now owns 3,555,682 shares of the real estate investment trust’s stock worth $387,107,000 after acquiring an additional 851,164 shares during the period. Finally, Long Pond Capital LP increased its position in shares of Camden Property Trust by 149.0% during the fourth quarter. Long Pond Capital LP now owns 948,280 shares of the real estate investment trust’s stock worth $106,094,000 after acquiring an additional 567,487 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Camden Property Trust Company Profile

(Get Free Report)

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 58,961 apartment homes across the United States.

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Analyst Recommendations for Camden Property Trust (NYSE:CPT)

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