Scotiabank initiated coverage on shares of Camden Property Trust (NYSE:CPT) in a research note published on Tuesday morning, The Fly reports. The brokerage issued a sector perform rating on the real estate investment trust’s stock.
A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Camden Property Trust from a hold rating to a buy rating and set a $102.00 target price for the company in a report on Tuesday, July 17th. Sandler O’Neill set a $105.00 target price on shares of Camden Property Trust and gave the company a buy rating in a report on Friday, August 3rd. Citigroup boosted their target price on shares of Camden Property Trust from $91.00 to $95.00 and gave the company a neutral rating in a report on Wednesday, August 8th. SunTrust Banks boosted their target price on shares of Camden Property Trust to $95.00 and gave the company an average rating in a report on Tuesday, August 14th. They noted that the move was a valuation call. Finally, Royal Bank of Canada boosted their target price on shares of Camden Property Trust to $97.00 and gave the company an outperform rating in a report on Tuesday, August 14th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Camden Property Trust presently has a consensus rating of Buy and an average price target of $94.13.
NYSE:CPT opened at $93.02 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $8.52 billion, a PE ratio of 20.53, a PEG ratio of 3.08 and a beta of 0.28. Camden Property Trust has a 1-year low of $78.19 and a 1-year high of $95.67.
Camden Property Trust (NYSE:CPT) last posted its quarterly earnings data on Thursday, August 2nd. The real estate investment trust reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.78). The firm had revenue of $237.10 million during the quarter, compared to analyst estimates of $235.47 million. Camden Property Trust had a net margin of 21.65% and a return on equity of 5.79%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 EPS. Research analysts anticipate that Camden Property Trust will post 4.75 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 17th. Shareholders of record on Friday, September 28th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $3.08 annualized dividend and a yield of 3.31%. Camden Property Trust’s dividend payout ratio is currently 67.99%.
In other Camden Property Trust news, President D Keith Oden sold 37,518 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $93.75, for a total transaction of $3,517,312.50. Following the completion of the sale, the president now directly owns 308,518 shares in the company, valued at $28,923,562.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Richard J. Campo sold 80,588 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $93.79, for a total transaction of $7,558,348.52. Following the sale, the chairman now owns 291,383 shares of the company’s stock, valued at $27,328,811.57. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 245,731 shares of company stock valued at $23,087,928. 4.70% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CPT. A.R.T. Advisors LLC grew its stake in Camden Property Trust by 89.1% during the first quarter. A.R.T. Advisors LLC now owns 17,205 shares of the real estate investment trust’s stock worth $1,448,000 after buying an additional 8,105 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Camden Property Trust in the first quarter valued at $490,000. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Camden Property Trust by 8.0% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 291,582 shares of the real estate investment trust’s stock valued at $24,545,000 after purchasing an additional 21,627 shares during the period. Millennium Management LLC boosted its stake in shares of Camden Property Trust by 138.9% in the first quarter. Millennium Management LLC now owns 875,619 shares of the real estate investment trust’s stock valued at $73,710,000 after purchasing an additional 509,066 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Camden Property Trust by 9.3% in the first quarter. Legal & General Group Plc now owns 465,744 shares of the real estate investment trust’s stock valued at $39,207,000 after purchasing an additional 39,673 shares during the period. Institutional investors own 93.80% of the company’s stock.
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.
Featured Story: Return on Investment (ROI) Defined, Explained
Receive News & Ratings for Camden Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Camden Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.