Camden Property Trust (NYSE:CPT – Get Free Report) declared a quarterly dividend on Thursday, February 5th. Stockholders of record on Tuesday, March 31st will be paid a dividend of 1.06 per share by the real estate investment trust on Friday, April 17th. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, March 31st. This is a 1.0% increase from Camden Property Trust’s previous quarterly dividend of $1.05.
Camden Property Trust has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 4 years. Camden Property Trust has a payout ratio of 271.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Camden Property Trust to earn $7.07 per share next year, which means the company should continue to be able to cover its $4.20 annual dividend with an expected future payout ratio of 59.4%.
Camden Property Trust Stock Up 2.1%
Shares of CPT stock opened at $108.79 on Friday. The stock’s 50 day simple moving average is $107.48 and its 200 day simple moving average is $106.67. Camden Property Trust has a twelve month low of $97.17 and a twelve month high of $126.55. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market capitalization of $11.57 billion, a price-to-earnings ratio of 44.04, a PEG ratio of 8.63 and a beta of 0.82.
Camden Property Trust declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 5th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the real estate investment trust to purchase up to 5.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
About Camden Property Trust
Camden Property Trust is a publicly traded real estate investment trust (REIT) specializing in the ownership, development and management of multifamily residential communities across the United States. The company’s core business activities include acquiring land for new construction, overseeing the design and development of garden-style and mid-rise apartment communities, and providing ongoing property management services. Camden’s asset management team focuses on maintaining high occupancy levels, resident satisfaction and operational efficiency through consistent leasing, maintenance and community engagement programs.
Camden’s portfolio encompasses a geographically diversified mix of properties located primarily in high-growth Sun Belt and major metropolitan markets.
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