Camden Property Trust (NYSE:CPT) Price Target Raised to $115.00

Camden Property Trust (NYSE:CPT) had its price target upped by Citigroup from $109.00 to $115.00 in a report released on Thursday morning, Stock Target Advisor reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

A number of other equities analysts also recently weighed in on the company. Zelman & Associates upgraded Camden Property Trust from a sell rating to a hold rating in a report on Monday, August 12th. KeyCorp upped their target price on Camden Property Trust from $112.00 to $117.00 and gave the company an overweight rating in a report on Tuesday, October 8th. Goldman Sachs Group initiated coverage on Camden Property Trust in a report on Friday. They issued a buy rating and a $124.00 target price on the stock. BMO Capital Markets reiterated a buy rating and issued a $115.00 target price on shares of Camden Property Trust in a report on Monday, November 4th. Finally, Barclays reiterated a buy rating and issued a $124.00 target price on shares of Camden Property Trust in a report on Sunday, October 13th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $112.29.

CPT stock traded down $0.15 during mid-day trading on Thursday, reaching $110.12. 326,227 shares of the stock traded hands, compared to its average volume of 489,332. The company has a current ratio of 0.76, a quick ratio of 0.94 and a debt-to-equity ratio of 0.68. Camden Property Trust has a 52-week low of $83.67 and a 52-week high of $116.67. The company has a market cap of $10.85 billion, a P/E ratio of 23.09, a P/E/G ratio of 3.22 and a beta of 0.39. The stock’s fifty day moving average is $112.64 and its 200-day moving average is $107.13.

Camden Property Trust (NYSE:CPT) last issued its earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.84). The business had revenue of $260.67 million during the quarter, compared to analyst estimates of $259.56 million. Camden Property Trust had a net margin of 16.22% and a return on equity of 4.53%. Camden Property Trust’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. Equities research analysts expect that Camden Property Trust will post 5.02 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Monday, September 30th were issued a $0.80 dividend. The ex-dividend date was Friday, September 27th. This represents a $3.20 dividend on an annualized basis and a yield of 2.91%. Camden Property Trust’s dividend payout ratio is currently 67.09%.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Camden Property Trust by 1.8% in the second quarter. Vanguard Group Inc. now owns 14,426,035 shares of the real estate investment trust’s stock worth $1,505,934,000 after buying an additional 255,978 shares during the last quarter. BlackRock Inc. increased its holdings in Camden Property Trust by 0.8% in the second quarter. BlackRock Inc. now owns 13,289,889 shares of the real estate investment trust’s stock worth $1,387,330,000 after buying an additional 104,896 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in Camden Property Trust by 200.7% in the second quarter. Nuveen Asset Management LLC now owns 2,446,092 shares of the real estate investment trust’s stock worth $255,348,000 after buying an additional 1,632,600 shares during the last quarter. Northern Trust Corp increased its holdings in Camden Property Trust by 4.7% in the second quarter. Northern Trust Corp now owns 1,339,826 shares of the real estate investment trust’s stock worth $139,864,000 after buying an additional 60,020 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Camden Property Trust by 3.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,290,372 shares of the real estate investment trust’s stock worth $134,702,000 after buying an additional 40,231 shares during the last quarter. Hedge funds and other institutional investors own 93.56% of the company’s stock.

About Camden Property Trust

Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 161 properties containing 55,160 apartment homes across the United States.

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Analyst Recommendations for Camden Property Trust (NYSE:CPT)

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