Camden Property Trust (NYSE:CPT) Sets New 1-Year High at $127.38

Camden Property Trust (NYSE:CPT)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $127.38 and last traded at $127.07, with a volume of 1070998 shares traded. The stock had previously closed at $125.25.

Analysts Set New Price Targets

CPT has been the topic of several research reports. JPMorgan Chase & Co. lifted their price target on Camden Property Trust from $112.00 to $129.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Truist Financial boosted their target price on shares of Camden Property Trust from $122.00 to $133.00 and gave the company a “buy” rating in a report on Monday, August 26th. BNP Paribas began coverage on shares of Camden Property Trust in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $129.00 price target for the company. Scotiabank boosted their price objective on shares of Camden Property Trust from $125.00 to $132.00 and gave the stock a “sector perform” rating in a research note on Monday, September 16th. Finally, Royal Bank of Canada cut shares of Camden Property Trust from an “outperform” rating to a “sector perform” rating and set a $122.00 price objective on the stock. in a report on Monday, September 9th. Fourteen investment 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 stock currently has a consensus rating of “Hold” and an average target price of $121.69.

Camden Property Trust Price Performance

The stock has a market capitalization of $13.34 billion, a PE ratio of 30.69, a PEG ratio of 4.60 and a beta of 0.90. The firm’s fifty day moving average price is $119.35 and its two-hundred day moving average price is $108.60. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.72.

Camden Property Trust (NYSE:CPT) last announced its 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 net margin of 25.64% and a return on equity of 7.98%. The company had revenue of $387.15 million for the quarter, compared to analysts’ expectations of $384.76 million. During the same quarter in the prior year, the firm posted $1.70 earnings per share. On average, equities analysts predict that Camden Property Trust will post 6.77 earnings per share for the current year.

Camden Property Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.03 per share. The ex-dividend date is Monday, September 30th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.29%. Camden Property Trust’s dividend payout ratio is currently 100.98%.

Hedge Funds Weigh In On Camden Property Trust

Several institutional investors have recently made changes to their positions in the business. Lindbrook Capital LLC increased its holdings in Camden Property Trust by 90.4% during the first quarter. Lindbrook Capital LLC now owns 278 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 132 shares during the last quarter. Kings Path Partners LLC bought a new stake in shares of Camden Property Trust during the 2nd quarter valued at $33,000. Federated Hermes Inc. purchased a new stake in shares of Camden Property Trust in the 2nd quarter worth $33,000. Family Firm Inc. bought a new position in Camden Property Trust in the 2nd quarter worth $39,000. Finally, Versant Capital Management Inc lifted its position in Camden Property Trust by 2,187.5% during the second quarter. Versant Capital Management Inc now owns 366 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 350 shares in the last quarter. Institutional investors 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.