Camden Property Trust (NYSE:CPT) Price Target Raised to $118.00

Camden Property Trust (NYSE:CPT) had its price objective hoisted by Deutsche Bank from $116.00 to $118.00 in a research report released on Monday morning, BenzingaRatingsTable reports. Deutsche Bank currently has a hold rating on the real estate investment trust’s stock.

A number of other analysts have also recently weighed in on the stock. Zelman & Associates raised shares of Camden Property Trust from a sell rating to a hold rating in a report on Monday, August 12th. BMO Capital Markets restated a buy rating and set a $115.00 target price on shares of Camden Property Trust in a report on Monday, November 4th. Scotiabank upgraded Camden Property Trust from a sector perform rating to a sector outperform rating and set a $122.00 target price for the company in a report on Tuesday, November 26th. Barclays reaffirmed a buy rating and set a $124.00 price target on shares of Camden Property Trust in a research report on Sunday, October 13th. Finally, ValuEngine lowered Camden Property Trust from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $113.73.

Shares of CPT stock traded down $0.09 during trading hours on Monday, reaching $110.40. The stock had a trading volume of 7,253 shares, compared to its average volume of 422,669. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.76 and a quick ratio of 0.76. Camden Property Trust has a twelve month low of $83.67 and a twelve month high of $116.67. The firm has a 50-day simple moving average of $112.02 and a 200-day simple moving average of $108.68. The firm has a market capitalization of $10.70 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 3.24 and a beta of 0.38.

Camden Property Trust (NYSE:CPT) last released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.28 by ($0.84). Camden Property Trust had a return on equity of 4.53% and a net margin of 16.22%. The firm had revenue of $260.67 million during the quarter, compared to analyst estimates of $259.56 million. During the same period last year, the business earned $1.20 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. On average, equities analysts anticipate that Camden Property Trust will post 5.01 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Monday, December 16th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, December 13th. Camden Property Trust’s dividend payout ratio is currently 67.09%.

In other Camden Property Trust news, CEO Richard J. Campo sold 23,308 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $111.88, for a total transaction of $2,607,699.04. Following the sale, the chief executive officer now directly owns 253,664 shares of the company’s stock, valued at $28,379,928.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman D Keith Oden sold 23,307 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $111.88, for a total value of $2,607,587.16. Following the sale, the insider now directly owns 270,800 shares in the company, valued at $30,297,104. The disclosure for this sale can be found here. Insiders sold a total of 161,591 shares of company stock valued at $18,191,363 in the last three months. Corporate insiders own 3.40% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position 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 acquiring an additional 255,978 shares in the last quarter. BlackRock Inc. raised its stake in shares of Camden Property Trust by 0.8% during the second quarter. BlackRock Inc. now owns 13,289,889 shares of the real estate investment trust’s stock valued at $1,387,330,000 after acquiring an additional 104,896 shares in the last quarter. State Street Corp raised its stake in shares of Camden Property Trust by 1.2% during the third quarter. State Street Corp now owns 6,020,883 shares of the real estate investment trust’s stock valued at $673,127,000 after acquiring an additional 71,653 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Camden Property Trust by 200.7% during the second quarter. Nuveen Asset Management LLC now owns 2,446,092 shares of the real estate investment trust’s stock valued at $255,348,000 after acquiring an additional 1,632,600 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Camden Property Trust by 4.7% during the second quarter. Northern Trust Corp now owns 1,339,826 shares of the real estate investment trust’s stock valued at $139,864,000 after acquiring an additional 60,020 shares in the last quarter. 93.04% of the stock is currently owned by institutional investors and hedge funds.

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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