Camden Property Trust (NYSE:CPT) Plans $1.03 Quarterly Dividend

Camden Property Trust (NYSE:CPT) declared a quarterly dividend on Monday, September 16th, Zacks reports. Investors of record on Monday, September 30th will be paid a dividend of 1.03 per share by the real estate investment trust on Thursday, October 17th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Monday, September 30th.

Camden Property Trust has increased its dividend payment by an average of 6.4% annually over the last three years. Camden Property Trust has a dividend payout ratio of 272.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Camden Property Trust to earn $6.94 per share next year, which means the company should continue to be able to cover its $4.12 annual dividend with an expected future payout ratio of 59.4%.

Camden Property Trust Price Performance

CPT stock traded up $0.72 during mid-day trading on Wednesday, hitting $124.71. The company had a trading volume of 148,219 shares, compared to its average volume of 993,007. The company has a 50-day moving average price of $118.35 and a 200 day moving average price of $108.16. Camden Property Trust has a 12-month low of $82.81 and a 12-month high of $127.23. The company has a market capitalization of $13.29 billion, a price-to-earnings ratio of 30.61, a P/E/G ratio of 4.60 and a beta of 0.90. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.72.

Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.27). The firm had revenue of $387.15 million during the quarter, compared to analysts’ expectations of $384.76 million. Camden Property Trust had a return on equity of 7.98% and a net margin of 25.64%. During the same quarter in the prior year, the firm posted $1.70 earnings per share. On average, research analysts anticipate that Camden Property Trust will post 6.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wedbush boosted their price target on shares of Camden Property Trust from $118.00 to $131.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Evercore ISI boosted their target price on shares of Camden Property Trust from $116.00 to $118.00 and gave the stock an “in-line” rating in a report on Monday. Truist Financial increased their price target on shares of Camden Property Trust from $122.00 to $133.00 and gave the company a “buy” rating in a report on Monday, August 26th. BNP Paribas began coverage on Camden Property Trust in a research note on Wednesday, September 11th. They set a “neutral” rating and a $129.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on Camden Property Trust from $112.00 to $129.00 and gave the company a “neutral” rating in a research note on Monday. Fourteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $121.69.

Camden Property Trust Company Profile

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.