Camden Property Trust (NYSE:CPT) Stock Rating Reaffirmed by Piper Sandler

Piper Sandler restated their underweight rating on shares of Camden Property Trust (NYSE:CPT) in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a $90.00 price objective on the real estate investment trust’s stock.

A number of other equities research analysts have also recently commented on the company. Barclays cut Camden Property Trust from an overweight rating to an equal weight rating and decreased their price target for the company from $138.00 to $100.00 in a research note on Tuesday, February 20th. Mizuho decreased their target price on shares of Camden Property Trust from $103.00 to $99.00 and set a buy rating for the company in a research note on Wednesday, February 28th. BMO Capital Markets restated a market perform rating and set a $100.00 price objective on shares of Camden Property Trust in a research report on Friday, December 15th. Morgan Stanley upped their price objective on shares of Camden Property Trust from $95.00 to $98.00 and gave the stock an equal weight rating in a research report on Monday, February 26th. Finally, StockNews.com cut shares of Camden Property Trust from a hold rating to a sell rating in a research report on Tuesday, March 12th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $104.24.

Camden Property Trust Stock Performance

NYSE CPT opened at $98.40 on Tuesday. The company has a market cap of $10.53 billion, a P/E ratio of 26.59, a P/E/G ratio of 3.63 and a beta of 0.83. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.88 and a current ratio of 0.88. The business’s 50 day moving average price is $96.36 and its 200-day moving average price is $95.21. Camden Property Trust has a fifty-two week low of $82.81 and a fifty-two week high of $114.04.

Camden Property Trust (NYSE:CPT) last announced its quarterly earnings data on Friday, February 2nd. The real estate investment trust reported $2.03 EPS for the quarter, beating the consensus estimate of $1.72 by $0.31. The company 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 8.07% and a net margin of 26.15%. Camden Property Trust’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.74 EPS. Sell-side analysts predict that Camden Property Trust will post 6.75 earnings per share for the current year.

Camden Property Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Stockholders of record on Friday, March 29th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.19%. The ex-dividend date is Wednesday, March 27th. This is a boost from Camden Property Trust’s previous quarterly dividend of $1.00. Camden Property Trust’s dividend payout ratio is currently 111.35%.

Insider Activity at Camden Property Trust

In other Camden Property Trust news, CEO Richard J. Campo sold 38,336 shares of the stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $98.22, for a total value of $3,765,361.92. Following the transaction, the chief executive officer now directly owns 267,132 shares in the company, valued at $26,237,705.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Alexander J. Jessett sold 9,803 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $98.21, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard J. Campo sold 38,336 shares of Camden Property Trust stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $98.22, for a total transaction of $3,765,361.92. Following the completion of the transaction, the chief executive officer now owns 267,132 shares in the company, valued at $26,237,705.04. The disclosure for this sale can be found here. Insiders have sold a total of 55,957 shares of company stock valued at $5,495,920 over the last 90 days. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Camden Property Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Camden Property Trust by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 17,002,453 shares of the real estate investment trust’s stock valued at $1,688,174,000 after acquiring an additional 60,511 shares during the period. BlackRock Inc. raised its stake in shares of Camden Property Trust by 1.6% during the 1st quarter. BlackRock Inc. now owns 9,961,282 shares of the real estate investment trust’s stock worth $1,044,341,000 after buying an additional 157,326 shares during the last quarter. State Street Corp raised its stake in shares of Camden Property Trust by 0.7% during the 1st quarter. State Street Corp now owns 6,890,494 shares of the real estate investment trust’s stock worth $729,147,000 after buying an additional 45,705 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Camden Property Trust by 41.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,044,988 shares of the real estate investment trust’s stock worth $382,575,000 after buying an additional 1,187,974 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Camden Property Trust during the 4th quarter worth $376,933,000. Institutional investors and hedge funds own 97.22% of the company’s stock.

Camden Property Trust Company Profile

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 58,634 apartment homes across the United States.