Camden Property Trust (NYSE:CPT) Reaches New 12-Month Low After Analyst Downgrade

Shares of Camden Property Trust (NYSE:CPTGet Rating) hit a new 52-week low on Tuesday after Evercore ISI lowered their price target on the stock from $158.00 to $150.00. Evercore ISI currently has an in-line rating on the stock. Camden Property Trust traded as low as $124.48 and last traded at $124.48, with a volume of 1667 shares traded. The stock had previously closed at $127.89.

Other equities research analysts have also issued reports about the company. Truist Financial lifted their price objective on Camden Property Trust from $149.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, August 18th. The Goldman Sachs Group lifted their price objective on Camden Property Trust from $143.00 to $158.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 16th. Robert W. Baird cut their price objective on Camden Property Trust from $175.00 to $153.00 and set an “outperform” rating on the stock in a research report on Friday, June 24th. Mizuho lowered their target price on Camden Property Trust from $142.00 to $136.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Barclays lowered their target price on Camden Property Trust from $174.00 to $169.00 and set an “overweight” rating for the company in a research note on Thursday, September 15th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Camden Property Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.07.

Insider Transactions at Camden Property Trust

In related news, Director Kelvin R. Westbrook sold 1,820 shares of Camden Property Trust stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $130.77, for a total value of $238,001.40. Following the completion of the sale, the director now owns 24,932 shares of the company’s stock, valued at $3,260,357.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Camden Property Trust

Large investors have recently modified their holdings of the company. Manning & Napier Group LLC grew its holdings in Camden Property Trust by 1.9% during the first quarter. Manning & Napier Group LLC now owns 50,218 shares of the real estate investment trust’s stock valued at $8,345,000 after purchasing an additional 957 shares during the period. Fifth Third Bancorp grew its position in shares of Camden Property Trust by 256.1% during the first quarter. Fifth Third Bancorp now owns 19,392 shares of the real estate investment trust’s stock worth $3,223,000 after purchasing an additional 13,947 shares in the last quarter. King Luther Capital Management Corp purchased a new stake in shares of Camden Property Trust during the first quarter worth about $542,000. Verdence Capital Advisors LLC grew its holdings in Camden Property Trust by 10.5% during the 1st quarter. Verdence Capital Advisors LLC now owns 2,228 shares of the real estate investment trust’s stock valued at $370,000 after buying an additional 211 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Camden Property Trust by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,454 shares of the real estate investment trust’s stock valued at $6,225,000 after buying an additional 3,571 shares in the last quarter. Institutional investors own 94.08% of the company’s stock.

Camden Property Trust Stock Performance

The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.33 and a current ratio of 0.33. The business’s fifty day simple moving average is $135.46 and its 200-day simple moving average is $145.49. The firm has a market capitalization of $13.22 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 3.55 and a beta of 0.78.

Camden Property Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Thursday, September 29th. Camden Property Trust’s dividend payout ratio (DPR) is currently 49.41%.

About Camden Property Trust

(Get Rating)

Camden Property Trust, an S&P 400 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 167 properties containing 56,850 apartment homes across the United States.

Read More

Receive News & Ratings for Camden Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Camden Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.