Camden Property Trust (NYSE:CPT) Cut to Underweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Camden Property Trust (NYSE:CPT) from a neutral rating to an underweight rating in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. They currently have $128.00 target price on the real estate investment trust’s stock, down from their prior target price of $129.00.

A number of other brokerages also recently issued reports on CPT. The Goldman Sachs Group began 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 target on the stock. Piper Sandler upped their price target on shares of Camden Property Trust from $110.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Wells Fargo & Company raised Camden Property Trust from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $104.00 to $127.00 in a research report on Monday, August 26th. Royal Bank of Canada cut their target price on Camden Property Trust from $131.00 to $127.00 and set a “sector perform” rating on the stock in a research report on Monday, November 4th. Finally, Jefferies Financial Group assumed coverage on Camden Property Trust in a report on Friday, October 11th. They issued a “hold” rating and a $123.00 target price for the company. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $125.81.

Camden Property Trust Price Performance

Shares of CPT opened at $112.52 on Tuesday. The business has a 50-day moving average of $120.45 and a 200-day moving average of $117.72. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.15 and a quick ratio of 0.15. The company has a market capitalization of $12.00 billion, a price-to-earnings ratio of 35.61, a price-to-earnings-growth ratio of 4.40 and a beta of 0.92. Camden Property Trust has a 1 year low of $90.50 and a 1 year high of $127.69.

Camden Property Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Wednesday, December 18th will be given a $1.03 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $4.12 annualized dividend and a yield of 3.66%. Camden Property Trust’s payout ratio is 130.38%.

Institutional Trading of Camden Property Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kings Path Partners LLC bought a new stake in shares of Camden Property Trust in the 2nd quarter worth $33,000. Federated Hermes Inc. bought a new position in shares of Camden Property Trust during the second quarter valued at about $33,000. Neo Ivy Capital Management purchased a new position in Camden Property Trust during the third quarter worth about $38,000. Family Firm Inc. bought a new stake in Camden Property Trust in the 2nd quarter worth about $39,000. Finally, American Capital Advisory LLC increased its stake in Camden Property Trust by 42.7% in the 3rd quarter. American Capital Advisory LLC now owns 428 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 128 shares during the last quarter. 97.22% of the stock is owned by institutional investors.

About Camden Property Trust

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.