Camden Property Trust (NYSE:CPT) Price Target Cut to $114.00 by Analysts at UBS Group

Camden Property Trust (NYSE:CPT) had its price objective cut by UBS Group from $126.00 to $114.00 in a report released on Tuesday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

CPT has been the topic of several other reports. Wall Street Zen lowered shares of Camden Property Trust from a “hold” rating to a “sell” rating in a report on Saturday, May 24th. Mizuho dropped their target price on shares of Camden Property Trust from $130.00 to $122.00 and set an “outperform” rating for the company in a research report on Friday, May 23rd. Citigroup upgraded shares of Camden Property Trust from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $125.00 to $138.00 in a research note on Friday, March 28th. Truist Financial set a $131.00 price target on shares of Camden Property Trust and gave the company a “buy” rating in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. lifted their price target on Camden Property Trust from $127.00 to $129.00 and gave the stock an “underweight” rating in a report on Tuesday, June 17th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $129.28.

Camden Property Trust Price Performance

NYSE:CPT opened at $114.20 on Tuesday. The stock has a fifty day moving average of $115.58 and a 200 day moving average of $116.00. The firm has a market capitalization of $12.20 billion, a price-to-earnings ratio of 104.77, a P/E/G ratio of 3.78 and a beta of 0.77. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.19 and a current ratio of 0.19. Camden Property Trust has a 52-week low of $102.35 and a 52-week high of $127.69.

Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, May 1st. The real estate investment trust reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. Camden Property Trust had a return on equity of 2.47% and a net margin of 7.62%. The firm had revenue of $390.57 million for the quarter, compared to analysts’ expectations of $388.47 million. During the same period last year, the firm earned $1.70 EPS. The company’s quarterly revenue was up 2.0% on a year-over-year basis. On average, research analysts expect that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Camden Property Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Monday, June 30th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.68%. Camden Property Trust’s payout ratio is currently 385.32%.

Insider Transactions at Camden Property Trust

In other news, CEO Richard J. Campo sold 5,572 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $119.50, for a total value of $665,854.00. Following the transaction, the chief executive officer directly owned 289,720 shares in the company, valued at $34,621,540. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven A. Webster sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $118.76, for a total value of $142,512.00. Following the completion of the sale, the director owned 117,374 shares in the company, valued at approximately $13,939,336.24. This represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Camden Property Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC grew its holdings in Camden Property Trust by 16.8% in the first quarter. Smartleaf Asset Management LLC now owns 620 shares of the real estate investment trust’s stock worth $76,000 after purchasing an additional 89 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Camden Property Trust by 6.5% in the 4th quarter. Federated Hermes Inc. now owns 1,466 shares of the real estate investment trust’s stock valued at $170,000 after acquiring an additional 90 shares during the last quarter. Country Club Bank boosted its stake in shares of Camden Property Trust by 0.4% in the first quarter. Country Club Bank now owns 26,200 shares of the real estate investment trust’s stock valued at $3,204,000 after purchasing an additional 92 shares during the period. Amalgamated Bank boosted its stake in shares of Camden Property Trust by 0.5% in the first quarter. Amalgamated Bank now owns 20,558 shares of the real estate investment trust’s stock valued at $2,514,000 after purchasing an additional 93 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Camden Property Trust by 0.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,117 shares of the real estate investment trust’s stock valued at $2,102,000 after purchasing an additional 98 shares during the period. 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.