Camden Property Trust (NYSE:CPT) Rating Increased to Buy at Citigroup

Citigroup upgraded shares of Camden Property Trust (NYSE:CPT) from a neutral rating to a buy rating in a research report report published on Friday, MarketBeat Ratings reports. Citigroup currently has $138.00 target price on the real estate investment trust’s stock, up from their previous target price of $125.00.

A number of other analysts have also recently issued reports on CPT. Jefferies Financial Group raised Camden Property Trust from a “hold” rating to a “buy” rating and upped their target price for the company from $117.00 to $139.00 in a research report on Monday, March 10th. Barclays lifted their price objective on shares of Camden Property Trust from $126.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. downgraded shares of Camden Property Trust from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $129.00 to $128.00 in a research note on Tuesday, December 17th. Wells Fargo & Company dropped their price target on Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Finally, Stifel Nicolaus upped their price objective on Camden Property Trust from $121.00 to $122.00 and gave the company a “hold” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $127.76.

Camden Property Trust Stock Up 0.2 %

Camden Property Trust stock opened at $122.17 on Friday. The stock has a market cap of $13.04 billion, a PE ratio of 81.45, a P/E/G ratio of 4.41 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.14 and a quick ratio of 0.15. The stock’s fifty day moving average is $118.57 and its two-hundred day moving average is $119.25. Camden Property Trust has a 1-year low of $94.75 and a 1-year high of $127.69.

Camden Property Trust (NYSE:CPT) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.05. Camden Property Trust had a return on equity of 3.35% and a net margin of 10.58%. On average, sell-side analysts expect that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Camden Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $4.20 dividend on an annualized basis and a yield of 3.44%. This is an increase from Camden Property Trust’s previous quarterly dividend of $1.03. Camden Property Trust’s payout ratio is currently 280.00%.

Insider Buying and Selling at Camden Property Trust

In related news, Director Heather J. Brunner sold 264 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total value of $29,055.84. Following the sale, the director now directly owns 10,273 shares of the company’s stock, valued at approximately $1,130,646.38. This represents a 2.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard J. Campo sold 1,043 shares of Camden Property Trust stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $110.06, for a total transaction of $114,792.58. Following the transaction, the chief executive officer now owns 299,092 shares of the company’s stock, valued at approximately $32,918,065.52. The trade was a 0.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,548 shares of company stock valued at $2,912,212. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Camden Property Trust

Large investors have recently bought and sold shares of the stock. Federated Hermes Inc. raised its position in shares of Camden Property Trust by 6.5% in the fourth quarter. Federated Hermes Inc. now owns 1,466 shares of the real estate investment trust’s stock valued at $170,000 after buying an additional 90 shares during the last quarter. UMB Bank n.a. grew its stake in Camden Property Trust by 76.6% in the 4th quarter. UMB Bank n.a. now owns 226 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 98 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Camden Property Trust by 0.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,117 shares of the real estate investment trust’s stock valued at $2,102,000 after acquiring an additional 98 shares during the last quarter. First American Bank lifted its stake in shares of Camden Property Trust by 1.0% during the 4th quarter. First American Bank now owns 10,846 shares of the real estate investment trust’s stock worth $1,259,000 after purchasing an additional 104 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of Camden Property Trust by 2.5% during the fourth quarter. Fisher Asset Management LLC now owns 4,297 shares of the real estate investment trust’s stock worth $499,000 after purchasing an additional 105 shares during the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.

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.