Camden Property Trust’s (CPT) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Camden Property Trust (NYSE:CPT) in a research report report published on Monday, Benzinga reports. Wedbush currently has a $110.00 price target on the real estate investment trust’s stock.

Several other brokerages also recently weighed in on CPT. The Goldman Sachs Group began coverage on Camden Property Trust in a research report on Thursday, February 22nd. They set a buy rating and a $112.00 price target on the stock. Truist Financial lifted their price target on Camden Property Trust from $113.00 to $114.00 and gave the company a buy rating in a research report on Tuesday, April 9th. Royal Bank of Canada restated an outperform rating and issued a $103.00 price objective on shares of Camden Property Trust in a research report on Monday, February 5th. Barclays lowered shares of Camden Property Trust from an overweight rating to an equal weight rating and cut their target price for the company from $138.00 to $100.00 in a report on Tuesday, February 20th. Finally, Morgan Stanley increased their price target on shares of Camden Property Trust from $95.00 to $98.00 and gave the stock an equal weight rating in a report on Monday, February 26th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Camden Property Trust has an average rating of Hold and an average price target of $104.29.

Camden Property Trust Stock Up 0.7 %

Shares of CPT stock opened at $100.28 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.88 and a current ratio of 0.88. Camden Property Trust has a fifty-two week low of $82.81 and a fifty-two week high of $114.04. The firm has a market capitalization of $10.92 billion, a PE ratio of 27.10, a P/E/G ratio of 3.74 and a beta of 0.83. The stock’s 50-day simple moving average is $97.41 and its 200-day simple moving average is $95.19.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings results on Friday, February 2nd. The real estate investment trust reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.31. Camden Property Trust had a net margin of 26.15% and a return on equity of 8.07%. The company had revenue of $387.59 million for the quarter, compared to the consensus estimate of $387.33 million. During the same quarter in the prior year, the company earned $1.74 EPS. Camden Property Trust’s quarterly revenue was up 3.1% on a year-over-year basis. Equities analysts expect that Camden Property Trust will post 6.72 earnings per share for the current year.

Camden Property Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, March 29th were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 4.11%. This is a boost from Camden Property Trust’s previous quarterly dividend of $1.00. The ex-dividend date was Wednesday, March 27th. Camden Property Trust’s payout ratio is presently 111.35%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in shares of Camden Property Trust by 6.8% in the first quarter. Principal Financial Group Inc. now owns 636,317 shares of the real estate investment trust’s stock valued at $62,614,000 after buying an additional 40,566 shares during the last quarter. Lindbrook Capital LLC raised its holdings in Camden Property Trust by 90.4% in the 1st quarter. Lindbrook Capital LLC now owns 278 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 132 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Camden Property Trust by 2.2% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 18,342 shares of the real estate investment trust’s stock worth $1,805,000 after purchasing an additional 400 shares in the last quarter. Telos Capital Management Inc. boosted its holdings in shares of Camden Property Trust by 1.5% during the 1st quarter. Telos Capital Management Inc. now owns 12,628 shares of the real estate investment trust’s stock worth $1,243,000 after purchasing an additional 181 shares during the last quarter. Finally, Simplicity Wealth LLC purchased a new stake in shares of Camden Property Trust in the first quarter valued at approximately $528,000. Hedge funds and other 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 58,634 apartment homes across the United States.