Camden Property Trust (CPT) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Camden Property Trust (NYSE:CPT) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “Camden Property Trust is one of the largest publicly traded multifamily companies in the United States. Structured as a Real Estate Investment Trust (REIT), the company is engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. “

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CPT has been the subject of a number of other research reports. JPMorgan Chase upgraded Camden Property Trust from a neutral rating to an overweight rating and set a $100.00 target price for the company in a research note on Friday, December 15th. BMO Capital Markets set a $92.00 target price on Camden Property Trust and gave the company a buy rating in a research note on Friday, March 2nd. Stifel Nicolaus restated a buy rating and issued a $94.00 target price on shares of Camden Property Trust in a research note on Monday, February 5th. Robert W. Baird restated a hold rating and issued a $88.00 target price on shares of Camden Property Trust in a research note on Friday, March 2nd. Finally, SunTrust Banks set a $89.00 target price on Camden Property Trust and gave the company a hold rating in a research note on Monday, January 22nd. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $90.64.

CPT opened at $85.56 on Wednesday. The company has a market capitalization of $7,865.50, a PE ratio of 18.73, a PEG ratio of 2.93 and a beta of 0.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.24 and a quick ratio of 2.24. Camden Property Trust has a 52 week low of $78.19 and a 52 week high of $96.39.

Camden Property Trust (NYSE:CPT) last released its earnings results on Thursday, February 1st. The real estate investment trust reported $0.91 EPS for the quarter, missing the Zacks’ consensus estimate of $1.18 by ($0.27). The firm had revenue of $229.80 million during the quarter, compared to analysts’ expectations of $228.99 million. Camden Property Trust had a net margin of 21.80% and a return on equity of 6.01%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.15 EPS. research analysts expect that Camden Property Trust will post 4.73 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 17th. Shareholders of record on Friday, March 30th will be paid a dividend of $0.77 per share. This is a boost from Camden Property Trust’s previous quarterly dividend of $0.75. The ex-dividend date is Wednesday, March 28th. This represents a $3.08 dividend on an annualized basis and a yield of 3.60%. Camden Property Trust’s payout ratio is presently 67.99%.

A number of large investors have recently made changes to their positions in CPT. Goldman Sachs Group Inc. raised its stake in Camden Property Trust by 101.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,642,463 shares of the real estate investment trust’s stock valued at $243,266,000 after buying an additional 1,333,250 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Camden Property Trust by 8.5% in the 4th quarter. BlackRock Inc. now owns 11,940,510 shares of the real estate investment trust’s stock worth $1,099,242,000 after purchasing an additional 939,465 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Camden Property Trust by 30.1% in the 4th quarter. Deutsche Bank AG now owns 3,721,348 shares of the real estate investment trust’s stock worth $342,582,000 after purchasing an additional 860,424 shares in the last quarter. AMP Capital Investors Ltd increased its holdings in shares of Camden Property Trust by 603.3% in the 4th quarter. AMP Capital Investors Ltd now owns 628,708 shares of the real estate investment trust’s stock worth $57,880,000 after purchasing an additional 539,311 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Camden Property Trust by 19.7% in the 4th quarter. Bank of New York Mellon Corp now owns 2,830,744 shares of the real estate investment trust’s stock worth $260,599,000 after purchasing an additional 465,697 shares in the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

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Camden Property Trust Company Profile

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 156 properties containing 53,391 apartment homes across the United States.

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Analyst Recommendations for Camden Property Trust (NYSE:CPT)

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