Camden Property Trust (NYSE:CPT) Price Target Raised to $118.00

Camden Property Trust (NYSE:CPT) had its price objective hoisted by Evercore ISI from $116.00 to $118.00 in a research note published on Monday, Benzinga reports. The firm currently has an in-line rating on the real estate investment trust’s stock.

CPT has been the topic of a number of other research reports. Wedbush raised their price target on Camden Property Trust from $118.00 to $131.00 and gave the stock an outperform rating in a research report on Monday, August 5th. Royal Bank of Canada downgraded shares of Camden Property Trust from an outperform rating to a sector perform rating and set a $122.00 target price on the stock. in a report on Monday, September 9th. Bank of America raised shares of Camden Property Trust from an underperform rating to a buy rating and increased their price objective for the stock from $111.00 to $147.00 in a research report on Monday, August 12th. The Goldman Sachs Group assumed coverage on shares of Camden Property Trust in a research report on Wednesday, September 4th. They issued a neutral rating and a $139.00 price objective on the stock. Finally, Piper Sandler increased their target price on Camden Property Trust from $110.00 to $128.00 and gave the stock a neutral rating in a report on Monday, August 26th. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $121.69.

Camden Property Trust Stock Performance

Shares of NYSE:CPT opened at $125.25 on Monday. The firm’s 50 day simple moving average is $118.67 and its 200 day simple moving average is $108.28. Camden Property Trust has a fifty-two week low of $82.81 and a fifty-two week high of $127.23. The company has a market capitalization of $13.34 billion, a price-to-earnings ratio of 30.70, a P/E/G ratio of 4.60 and a beta of 0.90. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.37 and a quick ratio of 0.37.

Camden Property Trust (NYSE:CPT) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.27). Camden Property Trust had a return on equity of 7.98% and a net margin of 25.64%. The firm had revenue of $387.15 million for the quarter, compared to the consensus estimate of $384.76 million. During the same period in the prior year, the business earned $1.70 earnings per share. As a group, sell-side analysts forecast that Camden Property Trust will post 6.77 earnings per share for the current year.

Camden Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Monday, September 30th. Camden Property Trust’s payout ratio is presently 100.98%.

Hedge Funds Weigh In On Camden Property Trust

A number of institutional investors have recently added to or reduced their stakes in CPT. Lindbrook Capital LLC grew its position in shares of Camden Property Trust by 90.4% in the 1st quarter. Lindbrook Capital LLC now owns 278 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 132 shares during the period. Kings Path Partners LLC acquired a new stake in Camden Property Trust in the 2nd quarter valued at about $33,000. Federated Hermes Inc. bought a new position in Camden Property Trust during the second quarter worth about $33,000. Family Firm Inc. acquired a new position in Camden Property Trust during the second quarter worth approximately $39,000. Finally, Versant Capital Management Inc raised its stake in Camden Property Trust by 2,187.5% in the second quarter. Versant Capital Management Inc now owns 366 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 350 shares during the period. 97.22% of the stock is currently owned by institutional investors and hedge funds.

Camden Property Trust Company Profile

Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 172 properties containing 58,250 apartment homes across the United States.