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

Camden Property Trust (NYSE:CPT) declared a quarterly dividend on Monday, September 16th, Zacks reports. Shareholders of record on Monday, September 30th will be given 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 yield of 3.33%. The ex-dividend date of this dividend is Monday, September 30th.

Camden Property Trust has raised its dividend by an average of 6.4% per year over the last three years. Camden Property Trust has a payout ratio of 272.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Camden Property Trust to earn $6.95 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 59.3%.

Camden Property Trust Price Performance

Shares of NYSE CPT opened at $123.71 on Friday. The business has a 50 day moving average price of $120.72 and a two-hundred day moving average price of $109.52. Camden Property Trust has a fifty-two week low of $82.81 and a fifty-two week high of $127.69. The firm has a market cap of $13.18 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 4.76 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 quarterly earnings data 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 company had revenue of $387.15 million for the quarter, compared to the consensus estimate of $384.76 million. Camden Property Trust had a net margin of 25.64% and a return on equity of 7.98%. During the same quarter last year, the company earned $1.70 earnings per share. Sell-side analysts expect that Camden Property Trust will post 6.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CPT. BNP Paribas initiated coverage on Camden Property Trust in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $129.00 target price for the company. Truist Financial lifted their price objective on shares of Camden Property Trust from $122.00 to $133.00 and gave the stock a “buy” rating in a report on Monday, August 26th. The Goldman Sachs Group started coverage on shares of Camden Property Trust in a report on Wednesday, September 4th. They set a “neutral” rating and a $139.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of Camden Property Trust from $112.00 to $129.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Finally, Scotiabank raised their target price on shares of Camden Property Trust from $125.00 to $132.00 and gave the stock a “sector perform” rating in a report on Monday, September 16th. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.