Camden Property Trust (NYSE:CPT) Upgraded at Citigroup

Citigroup upgraded shares of Camden Property Trust (NYSE:CPT) from a neutral rating to a buy rating in a research note released on Friday, Marketbeat reports. They currently have $138.00 price target on the real estate investment trust’s stock, up from their prior price target of $125.00.

A number of other equities analysts have also weighed in on CPT. Evercore ISI upped their target price 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. Wells Fargo & Company decreased their price objective on shares of Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Truist Financial boosted their price target on shares of Camden Property Trust from $122.00 to $129.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Mizuho lowered their price objective on shares of Camden Property Trust from $129.00 to $125.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Finally, Royal Bank of Canada raised their price target on Camden Property Trust from $121.00 to $123.00 and gave the company a “sector perform” rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $127.76.

Camden Property Trust Stock Up 0.2 %

CPT stock opened at $122.17 on Friday. The stock has a 50-day simple moving average of $118.57 and a two-hundred day simple moving average of $119.20. Camden Property Trust has a twelve month low of $94.75 and a twelve month high of $127.69. The firm has a market capitalization of $13.04 billion, a PE ratio of 81.45, a PEG 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.

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, beating the consensus estimate of $1.68 by $0.05. Camden Property Trust had a net margin of 10.58% and a return on equity of 3.35%. On average, equities analysts predict that Camden Property Trust will post 6.76 EPS for the current fiscal year.

Camden Property Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be issued a $1.05 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $4.20 annualized dividend and a yield of 3.44%. This is a boost from Camden Property Trust’s previous quarterly dividend of $1.03. Camden Property Trust’s dividend payout ratio (DPR) is 280.00%.

Insider Activity at Camden Property Trust

In related news, 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 completion of the transaction, the chief financial officer now directly owns 122,384 shares of the company’s stock, valued at $13,469,583.04. This represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Heather J. Brunner sold 264 shares of Camden Property Trust stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total value of $29,055.84. Following the sale, the director now directly owns 10,273 shares in the company, valued at approximately $1,130,646.38. The trade was a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,548 shares of company stock worth $2,912,212 over the last quarter. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SMART Wealth LLC bought a new position in Camden Property Trust in the third quarter worth $829,000. Nordea Investment Management AB increased its stake in shares of Camden Property Trust by 15.0% in the 4th quarter. Nordea Investment Management AB now owns 97,907 shares of the real estate investment trust’s stock worth $11,339,000 after acquiring an additional 12,805 shares in the last quarter. Franklin Resources Inc. boosted its stake in Camden Property Trust by 3.2% during the third quarter. Franklin Resources Inc. now owns 193,685 shares of the real estate investment trust’s stock worth $23,174,000 after acquiring an additional 5,985 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Camden Property Trust by 10.5% in the third quarter. Principal Financial Group Inc. now owns 538,876 shares of the real estate investment trust’s stock worth $66,563,000 after purchasing an additional 51,097 shares during the period. Finally, Atomi Financial Group Inc. grew its holdings in Camden Property Trust by 7.7% in the fourth quarter. Atomi Financial Group Inc. now owns 2,335 shares of the real estate investment trust’s stock worth $271,000 after purchasing an additional 166 shares during the period. 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 58,250 apartment homes across the United States.