Camden Property Trust (NYSE:CPT) Share Price Crosses Below 50 Day Moving Average – Should You Sell?

Camden Property Trust (NYSE:CPT) crossed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $101.40 and traded as low as $99.03. Camden Property Trust shares last traded at $99.3190, with a volume of 768,610 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Stifel Nicolaus set a $123.25 price objective on shares of Camden Property Trust in a research report on Friday, July 31st. UBS Group dropped their target price on shares of Camden Property Trust from $105.00 to $101.00 and set a “neutral” rating for the company in a report on Wednesday, October 14th. Weiss Ratings lowered Camden Property Trust from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. Mizuho cut their price target on Camden Property Trust from $125.00 to $116.00 and set an “outperform” rating for the company in a research note on Tuesday, September 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $114.00 price target on shares of Camden Property Trust in a report on Monday, July 20th. Three analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Camden Property Trust has a consensus rating of “Hold” and a consensus price target of $111.62.

Camden Property Trust Stock Down 2.2%

The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $9.99 billion, a P/E ratio of 32.89, a P/E/G ratio of 7.60 and a beta of 0.79. The company has a 50 day simple moving average of $101.40 and a two-hundred day simple moving average of $106.06.

Camden Property Trust (NYSE:CPT) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.49). The company had revenue of $396.07 million for the quarter, compared to analysts’ expectations of $392.88 million. Camden Property Trust had a net margin of 20.80% and a return on equity of 7.66%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business earned $1.70 earnings per share. On average, equities analysts predict that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Camden Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Wednesday, September 30th were given a dividend of $1.06 per share. The ex-dividend date was Wednesday, September 30th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 4.3%. Camden Property Trust’s dividend payout ratio is currently 140.40%.

Hedge Funds Weigh In On Camden Property Trust

Institutional investors have recently bought and sold shares of the stock. Kings Path Partners LLC bought a new stake in Camden Property Trust in the 3rd quarter valued at $29,000. James T. Borello RIA boosted its holdings in shares of Camden Property Trust by 76.3% during the 3rd quarter. James T. Borello RIA now owns 409 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 177 shares during the last quarter. Summit Securities Group LLC boosted its holdings in shares of Camden Property Trust by 169.6% during the 1st quarter. Summit Securities Group LLC now owns 426 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 268 shares during the last quarter. Western Wealth Management LLC purchased a new position in shares of Camden Property Trust during the first quarter valued at about $55,000. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Camden Property Trust in the second quarter worth about $55,000. 97.22% of the stock is owned by hedge funds and other institutional investors.

Camden Property Trust Company Profile

Camden Property Trust (NYSE:CPT) is a real estate investment trust that owns, develops, acquires, and manages multifamily apartment communities. The company provides rental housing to individuals and families through a portfolio of communities offering a range of apartment layouts, amenities, and resident services.

Camden focuses primarily on high-growth markets in the Sun Belt, including metropolitan areas in Texas, Arizona, Colorado, Florida, Georgia, North Carolina, and Tennessee. Its communities are generally located in major urban and suburban markets and are managed through the company’s in-house property management platform.

Founded in 1993 and headquartered in Houston, Texas, Camden Property Trust has expanded through apartment development, acquisitions, and ongoing property renovations.