Evercore ISI Raises Camden Property Trust (NYSE:CPT) Price Target to $118.00

Camden Property Trust (NYSE:CPT) had its price target lifted by Evercore ISI from $116.00 to $118.00 in a research note published on Monday morning, Benzinga reports. The brokerage currently has an in-line rating on the real estate investment trust’s stock.

Several other research firms have also recently weighed in on CPT. UBS Group increased their price objective on Camden Property Trust from $109.00 to $117.00 and gave the stock a neutral rating in a research report on Thursday, July 18th. Bank of America upgraded shares of Camden Property Trust from an underperform rating to a buy rating and lifted their price objective for the stock from $111.00 to $147.00 in a research note on Monday, August 12th. Wells Fargo & Company upgraded shares of Camden Property Trust from an underweight rating to an equal weight rating and increased their target price for the stock from $104.00 to $127.00 in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Camden Property Trust from $90.00 to $115.00 and gave the company a hold rating in a research report on Tuesday, September 10th. Finally, Wedbush increased their price target on Camden Property Trust from $118.00 to $131.00 and gave the stock an outperform rating in a research report on Monday, August 5th. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $121.69.

Camden Property Trust Stock Performance

Shares of CPT stock opened at $125.25 on Monday. Camden Property Trust has a 52 week low of $82.81 and a 52 week high of $127.23. The company has a market capitalization of $13.34 billion, a price-to-earnings ratio of 30.70, a PEG ratio of 4.60 and a beta of 0.90. The company has a 50-day simple moving average of $118.67 and a 200 day simple moving average of $108.28. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.37 and a current ratio of 0.37.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.27). The firm had revenue of $387.15 million for the quarter, compared to the consensus estimate of $384.76 million. Camden Property Trust had a return on equity of 7.98% and a net margin of 25.64%. During the same quarter in the prior year, the firm earned $1.70 EPS. On average, sell-side analysts predict that Camden Property Trust will post 6.77 earnings per share for the current year.

Camden Property Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Monday, September 30th. Camden Property Trust’s dividend payout ratio (DPR) is presently 100.98%.

Hedge Funds Weigh In On Camden Property Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Security National Bank increased its holdings in shares of Camden Property Trust by 1.2% during the second quarter. Security National Bank now owns 8,267 shares of the real estate investment trust’s stock worth $902,000 after buying an additional 101 shares in the last quarter. William Blair Investment Management LLC increased its holdings in Camden Property Trust by 3.8% in the 1st quarter. William Blair Investment Management LLC now owns 3,002 shares of the real estate investment trust’s stock worth $295,000 after purchasing an additional 109 shares in the last quarter. ERn Financial LLC raised its position in Camden Property Trust by 2.0% in the first quarter. ERn Financial LLC now owns 6,136 shares of the real estate investment trust’s stock valued at $604,000 after purchasing an additional 118 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Camden Property Trust by 23.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 636 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 119 shares in the last quarter. Finally, Lindbrook Capital LLC grew its holdings in shares of Camden Property Trust by 90.4% during the first quarter. Lindbrook Capital LLC now owns 278 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 132 shares during the last quarter. Institutional investors own 97.22% of the company’s stock.

Camden Property Trust Company Profile

Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 172 properties containing 58,250 apartment homes across the United States.