Camden Property Trust (NYSE:CPT) Announces Quarterly Dividend of $1.05

Camden Property Trust (NYSE:CPT) declared a quarterly dividend on Thursday, February 6th, Wall Street Journal reports. Shareholders of record on Monday, March 31st will be paid a dividend of 1.05 per share by the real estate investment trust on Thursday, April 17th. This represents a $4.20 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Monday, March 31st. This is a 1.9% increase from Camden Property Trust’s previous quarterly dividend of $1.03.

Camden Property Trust has raised its dividend by an average of 7.5% per year over the last three years. Camden Property Trust has a payout ratio of 254.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Camden Property Trust to earn $7.07 per share next year, which means the company should continue to be able to cover its $4.20 annual dividend with an expected future payout ratio of 59.4%.

Camden Property Trust Trading Up 0.2 %

NYSE:CPT opened at $122.17 on Friday. The firm has a 50-day simple moving average of $118.57 and a 200-day simple moving average of $119.25. Camden Property Trust has a one year low of $94.75 and a one year high of $127.69. The firm has a market cap of $13.04 billion, a P/E ratio of 81.45, a P/E/G ratio of 4.41 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.15 and a current ratio of 0.14.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.05. Camden Property Trust had a net margin of 10.58% and a return on equity of 3.35%. Equities analysts anticipate that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CPT has been the topic of several analyst reports. Truist Financial lifted their target price on Camden Property Trust from $122.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Royal Bank of Canada lifted their price objective on shares of Camden Property Trust from $121.00 to $123.00 and gave the stock a “sector perform” rating in a research report on Monday, February 10th. Mizuho reduced their price objective on shares of Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Evercore ISI raised their target price on shares of Camden Property Trust from $118.00 to $127.00 and gave the company an “in-line” rating in a research note on Monday, February 10th. Finally, Scotiabank upped their price target on Camden Property Trust from $130.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $127.76.

Insider Activity at Camden Property Trust

In other Camden Property Trust news, CEO Richard J. Campo sold 7,324 shares of Camden Property Trust 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 completion of the transaction, the chief executive officer now owns 300,135 shares in the company, valued at approximately $34,365,457.50. This trade represents a 2.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Heather J. Brunner sold 1,853 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $114.50, for a total value of $212,168.50. Following the completion of the sale, the director now owns 10,537 shares in the company, valued at $1,206,486.50. The trade was a 14.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,548 shares of company stock worth $2,912,212 over the last quarter. Insiders own 1.80% 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.