JPMorgan Chase & Co. Boosts Camden Property Trust (NYSE:CPT) Price Target to $129.00

Camden Property Trust (NYSE:CPT) had its target price boosted by JPMorgan Chase & Co. from $112.00 to $129.00 in a research report released on Monday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the real estate investment trust’s stock.

A number of other research firms have also recently commented on CPT. Royal Bank of Canada cut shares of Camden Property Trust from an outperform rating to a sector perform rating and set a $122.00 target price on the stock. in a research report on Monday, September 9th. BNP Paribas began coverage on shares of Camden Property Trust in a research report on Wednesday, September 11th. They set a neutral rating and a $129.00 price objective for the company. UBS Group lifted their target price on shares of Camden Property Trust from $109.00 to $117.00 and gave the company a neutral rating in a report on Thursday, July 18th. Bank of America upgraded Camden Property Trust from an underperform rating to a buy rating and upped their price target for the stock from $111.00 to $147.00 in a research note on Monday, August 12th. Finally, Piper Sandler boosted their price objective on Camden Property Trust from $110.00 to $128.00 and gave the company a neutral rating in a report on Monday, August 26th. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $121.69.

Camden Property Trust Stock Performance

NYSE:CPT opened at $126.67 on Monday. The company’s 50-day moving average is $119.02 and its two-hundred day moving average is $108.41. The firm has a market capitalization of $13.49 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 4.60 and a beta of 0.90. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.37 and a quick ratio of 0.37. Camden Property Trust has a 1-year low of $82.81 and a 1-year high of $127.38.

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 for the quarter, missing the consensus estimate of $1.67 by ($1.27). Camden Property Trust had a return on equity of 7.98% and a net margin of 25.64%. The business had revenue of $387.15 million during the quarter, compared to analysts’ expectations of $384.76 million. During the same quarter in the previous year, the company posted $1.70 earnings per share. Analysts forecast that Camden Property Trust will post 6.77 EPS for the current year.

Camden Property Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $4.12 dividend on an annualized basis and a yield of 3.25%. Camden Property Trust’s dividend payout ratio is currently 100.98%.

Institutional Investors Weigh In On Camden Property Trust

A number of large investors have recently modified their holdings of CPT. Norges Bank acquired a new position in shares of Camden Property Trust during the fourth quarter worth $376,933,000. Centersquare Investment Management LLC boosted its holdings in Camden Property Trust by 2,517.6% in the fourth quarter. Centersquare Investment Management LLC now owns 1,398,343 shares of the real estate investment trust’s stock valued at $138,841,000 after purchasing an additional 1,344,923 shares in the last quarter. Duquesne Family Office LLC acquired a new position in Camden Property Trust in the second quarter valued at approximately $63,056,000. Vanguard Group Inc. boosted its holdings in shares of Camden Property Trust by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 17,291,878 shares of the real estate investment trust’s stock valued at $1,701,521,000 after buying an additional 289,425 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Camden Property Trust by 23.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,465,159 shares of the real estate investment trust’s stock valued at $145,478,000 after buying an additional 277,634 shares in the last quarter. 97.22% of the stock is owned by hedge funds and other institutional investors.

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.