Shares of Camden Property Trust (NYSE:CPT) reached a new 52-week high on Thursday . The company traded as high as $113.48 and last traded at $112.73, with a volume of 4404 shares. The stock had previously closed at $112.97.
A number of equities research analysts have recently weighed in on CPT shares. TheStreet downgraded Camden Property Trust from a “b” rating to a “c+” rating in a research report on Monday, February 8th. Zacks Investment Research downgraded Camden Property Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, March 23rd. Scotiabank restated a “sector perform” rating and set a $108.00 target price on shares of Camden Property Trust in a research report on Tuesday, March 9th. Mizuho boosted their target price on Camden Property Trust from $103.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, March 15th. Finally, Royal Bank of Canada initiated coverage on Camden Property Trust in a research note on Tuesday, March 30th. They set an “outperform” rating and a $119.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. Camden Property Trust presently has an average rating of “Buy” and an average price target of $107.07.
The company has a debt-to-equity ratio of 0.90, a current ratio of 2.27 and a quick ratio of 2.27. The stock has a market capitalization of $11.26 billion, a price-to-earnings ratio of 59.46, a PEG ratio of 4.56 and a beta of 0.72. The business has a 50 day simple moving average of $107.14 and a 200-day simple moving average of $99.96.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 16th. Investors of record on Wednesday, March 31st will be issued a dividend of $0.83 per share. The ex-dividend date is Tuesday, March 30th. This is an increase from Camden Property Trust’s previous quarterly dividend of $0.13. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.95%. Camden Property Trust’s dividend payout ratio (DPR) is presently 65.87%.
In other Camden Property Trust news, Director William F. Paulsen sold 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 23rd. The stock was sold at an average price of $108.57, for a total value of $597,135.00. Following the sale, the director now owns 2,463 shares in the company, valued at approximately $267,407.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Neo Ivy Capital Management acquired a new stake in shares of Camden Property Trust in the third quarter valued at approximately $50,000. TD Ameritrade Investment Management LLC acquired a new stake in shares of Camden Property Trust in the fourth quarter valued at approximately $74,000. Trust Co. of Vermont acquired a new stake in shares of Camden Property Trust in the fourth quarter valued at approximately $90,000. Founders Capital Management acquired a new stake in shares of Camden Property Trust in the fourth quarter valued at approximately $115,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in shares of Camden Property Trust by 268.5% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,614 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 1,176 shares during the last quarter. Institutional investors own 94.56% of the company’s stock.
About Camden Property Trust (NYSE:CPT)
Camden Property Trust, an S&P 400 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 167 properties containing 56,850 apartment homes across the United States.
Further Reading: Fundamental Analysis
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