Camden Property Trust (NYSE:CPT) announced a quarterly dividend on Friday, June 15th, RTT News reports. Investors of record on Friday, June 29th will be paid a dividend of 0.77 per share by the real estate investment trust on Tuesday, July 17th. This represents a $3.08 dividend on an annualized basis and a yield of 3.41%.
Camden Property Trust has raised its dividend by an average of 4.8% per year over the last three years and has increased its dividend every year for the last 7 years. Camden Property Trust has a payout ratio of 66.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Camden Property Trust to earn $5.02 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 59.8%.
Camden Property Trust traded up $0.15, hitting $90.31, during midday trading on Friday, according to Marketbeat. 906,753 shares of the company traded hands, compared to its average volume of 582,307. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.64. The company has a market cap of $8.27 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 2.95 and a beta of 0.37. 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 posted its quarterly earnings data on Thursday, May 3rd. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($0.72). The company had revenue of $230.70 million for the quarter, compared to analysts’ expectations of $230.71 million. Camden Property Trust had a net margin of 22.03% and a return on equity of 5.97%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 earnings per share. research analysts forecast that Camden Property Trust will post 4.74 EPS for the current year.
In other Camden Property Trust news, COO H Malcolm Stewart sold 11,020 shares of the stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $90.68, for a total transaction of $999,293.60. Following the completion of the transaction, the chief operating officer now owns 261,535 shares of the company’s stock, valued at $23,715,993.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William F. Paulsen sold 2,190 shares of the stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $90.54, for a total transaction of $198,282.60. Following the transaction, the director now directly owns 14,234 shares of the company’s stock, valued at approximately $1,288,746.36. The disclosure for this sale can be found here. Company insiders own 4.70% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Bank of America raised their price objective on shares of Camden Property Trust from $103.00 to $104.00 and gave the stock a “buy” rating in a research report on Friday, June 8th. TheStreet upgraded shares of Camden Property Trust from a “c+” rating to a “b-” rating in a research report on Thursday, May 31st. Goldman Sachs Group upgraded shares of Camden Property Trust from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, May 31st. Zacks Investment Research upgraded shares of Camden Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, April 11th. Finally, UBS Group upgraded shares of Camden Property Trust from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $78.69 to $84.00 in a research report on Monday, March 19th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $91.64.
About Camden Property Trust
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 158 properties containing 54,181 apartment homes across the United States.
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