Royal Bank of Canada Cuts Camden Property Trust (NYSE:CPT) Price Target to $127.00

Camden Property Trust (NYSE:CPT) had its price target cut by Royal Bank of Canada from $131.00 to $127.00 in a report released on Monday, Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Other equities analysts also recently issued reports about the stock. BNP Paribas began coverage on shares of Camden Property Trust in a research note on Wednesday, September 11th. They set a “neutral” rating and a $129.00 target price on the stock. Bank of America upgraded Camden Property Trust from an “underperform” rating to a “buy” rating and lifted their target price for the company from $111.00 to $147.00 in a report on Monday, August 12th. Truist Financial boosted their price target on shares of Camden Property Trust from $122.00 to $133.00 and gave the stock a “buy” rating in a report on Monday, August 26th. The Goldman Sachs Group began coverage on Camden Property Trust in a report on Wednesday, September 4th. They issued a “neutral” rating and a $139.00 price objective on the stock. Finally, Wells Fargo & Company upgraded Camden Property Trust from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $104.00 to $127.00 in a research note on Monday, August 26th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $122.03.

Camden Property Trust Stock Performance

NYSE:CPT opened at $117.44 on Monday. The company has a current ratio of 0.15, a quick ratio of 0.37 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average price is $121.63 and its 200-day moving average price is $113.81. Camden Property Trust has a twelve month low of $85.30 and a twelve month high of $127.69. The company has a market cap of $12.52 billion, a P/E ratio of 37.16, a P/E/G ratio of 4.25 and a beta of 0.91.

Camden Property Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Monday, September 30th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Monday, September 30th. Camden Property Trust’s payout ratio is currently 130.38%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CPT. Centersquare Investment Management LLC boosted its stake in shares of Camden Property Trust by 64.2% during the 1st quarter. Centersquare Investment Management LLC now owns 2,296,741 shares of the real estate investment trust’s stock worth $228,939,000 after acquiring an additional 898,398 shares in the last quarter. Duquesne Family Office LLC purchased a new position in shares of Camden Property Trust in the 2nd quarter worth about $63,056,000. Robeco Institutional Asset Management B.V. grew its stake in Camden Property Trust by 4,254.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 341,810 shares of the real estate investment trust’s stock worth $42,224,000 after buying an additional 333,961 shares during the period. Vanguard Group Inc. grew its position in Camden Property Trust by 1.7% in the first quarter. Vanguard Group Inc. now owns 17,291,878 shares of the real estate investment trust’s stock valued at $1,701,521,000 after acquiring an additional 289,425 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Camden Property Trust by 690.1% during the second quarter. American Century Companies Inc. now owns 248,533 shares of the real estate investment trust’s stock worth $27,117,000 after acquiring an additional 217,076 shares during the last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.

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.