Camden Property Trust (NYSE:CPT) announced a quarterly dividend on Monday, September 16th, Zacks reports. Investors of record on Monday, September 30th will be given a dividend of 0.80 per share by the real estate investment trust on Thursday, October 17th. This represents a $3.20 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Friday, September 27th.
Camden Property Trust has increased its dividend by an average of 3.5% annually over the last three years and has increased its dividend every year for the last 8 years. Camden Property Trust has a payout ratio of 67.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Camden Property Trust to earn $5.35 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 59.8%.
Shares of Camden Property Trust stock traded down $0.70 during trading on Wednesday, hitting $110.02. 8,822 shares of the company’s stock traded hands, compared to its average volume of 397,947. The stock has a market capitalization of $10.44 billion, a P/E ratio of 23.12, a PEG ratio of 3.10 and a beta of 0.43. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50-day simple moving average of $106.91 and a 200-day simple moving average of $103.97. Camden Property Trust has a 1 year low of $83.67 and a 1 year high of $111.00.
Camden Property Trust (NYSE:CPT) last announced its earnings results on Thursday, July 25th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.84). The firm had revenue of $255.76 million during the quarter, compared to analysts’ expectations of $252.76 million. Camden Property Trust had a return on equity of 4.48% and a net margin of 16.05%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.00 earnings per share. On average, equities analysts predict that Camden Property Trust will post 5.09 earnings per share for the current fiscal year.
Several research analysts have issued reports on the company. KeyCorp raised their target price on Camden Property Trust from $105.00 to $112.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Zacks Investment Research cut Camden Property Trust from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Capital One Financial raised Camden Property Trust from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $107.00 to $119.00 in a research report on Monday. DA Davidson cut Camden Property Trust from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 23rd. Finally, SunTrust Banks raised their price objective on Camden Property Trust to $108.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Camden Property Trust presently has an average rating of “Buy” and an average target price of $105.92.
In other news, Director William B. Mcguire sold 1,979 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $104.12, for a total value of $206,053.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.40% of the stock is owned by company insiders.
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 161 properties containing 55,160 apartment homes across the United States.
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