Camden Property Trust (NYSE:CPT) announced a quarterly dividend on Friday, June 14th, NASDAQ reports. Investors of record on Friday, June 28th will be given a dividend of 0.80 per share by the real estate investment trust on Wednesday, July 17th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Thursday, June 27th.
Camden Property Trust has raised its dividend by an average of 3.5% annually over the last three years and has increased its dividend annually for the last 8 consecutive 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 $5.30 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 60.4%.
CPT stock traded up $1.15 during trading on Tuesday, hitting $107.08. 13,110 shares of the company traded hands, compared to its average volume of 483,847. The stock’s 50-day moving average is $103.79. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $10.26 billion, a P/E ratio of 22.44, a PEG ratio of 3.18 and a beta of 0.46. Camden Property Trust has a 1 year low of $83.67 and a 1 year high of $108.22.
Several brokerages recently weighed in on CPT. SunTrust Banks lifted their price target on Camden Property Trust to $108.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Zacks Investment Research upgraded Camden Property Trust from a “hold” rating to a “buy” rating and set a $119.00 price target for the company in a research report on Monday. Barclays reiterated a “buy” rating and set a $108.00 price target on shares of Camden Property Trust in a research report on Tuesday, April 16th. Sandler O’Neill cut Camden Property Trust from a “buy” rating to a “hold” rating in a research report on Friday, April 5th. Finally, KeyCorp lifted their price target on Camden Property Trust from $98.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Camden Property Trust presently has an average rating of “Buy” and an average price target of $101.53.
In other news, COO H Malcolm Stewart sold 16,200 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $107.17, for a total value of $1,736,154.00. Following the completion of the sale, the chief operating officer now directly owns 149,537 shares in the company, valued at $16,025,880.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Richard J. Campo sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $105.32, for a total value of $6,319,200.00. Following the completion of the sale, the chairman now owns 273,948 shares of the company’s stock, valued at $28,852,203.36. The disclosure for this sale can be found here. Insiders sold 115,679 shares of company stock valued at $12,211,588 over the last 90 days. Company insiders own 3.40% of the company’s stock.
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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