Camden Property Trust (NYSE:CPT) Price Target Raised to $129.00

Camden Property Trust (NYSE:CPT) had its target price lifted by Truist Financial from $122.00 to $129.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus increased their price objective on Camden Property Trust from $121.00 to $122.00 and gave the company a “hold” rating in a research report on Friday, February 7th. StockNews.com cut Camden Property Trust from a “hold” rating to a “sell” rating in a research report on Saturday, March 8th. Scotiabank increased their price objective on Camden Property Trust from $130.00 to $135.00 and gave the company a “sector perform” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. cut Camden Property Trust from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $129.00 to $128.00 in a research report on Tuesday, December 17th. Finally, Evercore ISI increased their price objective on Camden Property Trust from $118.00 to $127.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Camden Property Trust currently has an average rating of “Hold” and a consensus target price of $127.19.

Camden Property Trust Price Performance

CPT opened at $118.40 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.14. Camden Property Trust has a 52-week low of $94.75 and a 52-week high of $127.69. The stock has a market capitalization of $12.64 billion, a PE ratio of 78.93, a price-to-earnings-growth ratio of 4.41 and a beta of 0.94. The stock’s 50 day moving average price is $116.63 and its 200-day moving average price is $119.55.

Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.05. Camden Property Trust had a return on equity of 3.35% and a net margin of 10.58%. On average, equities research analysts predict that Camden Property Trust will post 6.76 EPS for the current year.

Camden Property Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 3.55%. This is an increase from Camden Property Trust’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, March 31st. Camden Property Trust’s dividend payout ratio is currently 280.00%.

Insider Buying and Selling

In other news, CEO Richard J. Campo sold 7,324 shares of Camden Property Trust stock in a transaction on Monday, January 6th. The stock was sold at an average price of $114.50, for a total value of $838,598.00. Following the completion of the sale, the chief executive officer now directly owns 300,135 shares of the company’s stock, valued at approximately $34,365,457.50. This trade represents a 2.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Heather J. Brunner sold 264 shares of Camden Property Trust stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total value of $29,055.84. Following the completion of the sale, the director now directly owns 10,273 shares of the company’s stock, valued at $1,130,646.38. This trade represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,548 shares of company stock valued at $2,912,212. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Camden Property Trust

A number of institutional investors have recently modified their holdings of the company. Federated Hermes Inc. raised its holdings in Camden Property Trust by 6.5% during the fourth quarter. Federated Hermes Inc. now owns 1,466 shares of the real estate investment trust’s stock worth $170,000 after acquiring an additional 90 shares in the last quarter. UMB Bank n.a. raised its holdings in Camden Property Trust by 76.6% during the fourth quarter. UMB Bank n.a. now owns 226 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 98 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Camden Property Trust by 0.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,117 shares of the real estate investment trust’s stock worth $2,102,000 after acquiring an additional 98 shares in the last quarter. First American Bank raised its holdings in Camden Property Trust by 1.0% during the fourth quarter. First American Bank now owns 10,846 shares of the real estate investment trust’s stock worth $1,259,000 after acquiring an additional 104 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in Camden Property Trust by 2.5% during the fourth quarter. Fisher Asset Management LLC now owns 4,297 shares of the real estate investment trust’s stock worth $499,000 after buying an additional 105 shares during the last quarter. 97.22% of the stock is currently owned by institutional investors.

About Camden Property Trust

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.