Camden Property Trust (NYSE:CPT) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Camden Property Trust (NYSE:CPT) from a sell rating to a hold rating in a research report released on Friday morning.

Several other brokerages also recently commented on CPT. Barclays upped their target price on Camden Property Trust from $126.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Evercore ISI increased their price objective on Camden Property Trust from $118.00 to $127.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. Stifel Nicolaus increased their price objective on Camden Property Trust from $121.00 to $122.00 and gave the stock a “hold” rating in a research note on Friday, February 7th. Royal Bank of Canada increased their price objective on Camden Property Trust from $121.00 to $123.00 and gave the stock a “sector perform” rating in a research note on Monday, February 10th. Finally, Scotiabank increased their price objective on Camden Property Trust from $130.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $126.53.

Camden Property Trust Trading Up 0.6 %

Shares of NYSE CPT opened at $123.97 on Friday. Camden Property Trust has a 12 month low of $92.99 and a 12 month high of $127.69. The company has a market cap of $13.23 billion, a price-to-earnings ratio of 82.65, a P/E/G ratio of 4.41 and a beta of 0.94. The company has a quick ratio of 0.15, a current ratio of 0.14 and a debt-to-equity ratio of 0.73. The business has a fifty day simple moving average of $115.48 and a 200-day simple moving average of $119.41.

Camden Property Trust (NYSE:CPT) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 EPS for the quarter, beating 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%. Sell-side analysts predict that Camden Property Trust will post 6.76 EPS for the current year.

Camden Property Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.05 per share. This is a positive change from Camden Property Trust’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, March 31st. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.39%. Camden Property Trust’s dividend payout ratio is currently 280.00%.

Insider Activity

In other news, CEO Richard J. Campo sold 7,324 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $114.50, for a total transaction of $838,598.00. Following the transaction, the chief executive officer now owns 300,135 shares of the company’s stock, valued at approximately $34,365,457.50. This represents a 2.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Alexander J. Jessett sold 1,862 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 $204,931.72. Following the transaction, the chief financial officer now directly owns 122,384 shares in the company, valued at approximately $13,469,583.04. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,413 shares of company stock valued at $2,895,718. Insiders own 1.90% of the company’s stock.

Institutional Trading of Camden Property Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPT. Creative Planning grew its holdings in Camden Property Trust by 5.3% in the 3rd quarter. Creative Planning now owns 9,012 shares of the real estate investment trust’s stock valued at $1,113,000 after buying an additional 453 shares during the last quarter. Private Advisor Group LLC acquired a new stake in Camden Property Trust in the 3rd quarter valued at approximately $210,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Camden Property Trust by 70.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,416 shares of the real estate investment trust’s stock valued at $1,907,000 after buying an additional 6,361 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Camden Property Trust by 5.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,000 shares of the real estate investment trust’s stock valued at $371,000 after buying an additional 155 shares during the last quarter. Finally, New York State Teachers Retirement System grew its holdings in Camden Property Trust by 8.2% in the 3rd quarter. New York State Teachers Retirement System now owns 98,846 shares of the real estate investment trust’s stock valued at $12,210,000 after buying an additional 7,517 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.