Camden Property Trust (NYSE:CPT) Price Target Increased to $116.00 by Analysts at Evercore ISI

Camden Property Trust (NYSE:CPT) had its price objective raised by Evercore ISI from $115.00 to $116.00 in a report released on Monday morning, Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

Several other brokerages have also weighed in on CPT. Bank of America upgraded Camden Property Trust from an underperform rating to a buy rating and lifted their price target for the company from $111.00 to $147.00 in a research note on Monday, August 12th. Wells Fargo & Company upgraded Camden Property Trust from an underweight rating to an equal weight rating and lifted their price target for the company from $104.00 to $127.00 in a research note on Monday, August 26th. Piper Sandler boosted their price objective on Camden Property Trust from $110.00 to $128.00 and gave the stock a neutral rating in a research note on Monday, August 26th. Morgan Stanley boosted their price objective on Camden Property Trust from $98.00 to $105.50 and gave the stock an equal weight rating in a research note on Tuesday, May 14th. Finally, Wedbush boosted their price objective on Camden Property Trust from $118.00 to $131.00 and gave the stock an outperform rating in a research note on Monday, August 5th. Thirteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Camden Property Trust has an average rating of Hold and an average price target of $118.26.

Camden Property Trust Stock Performance

Shares of CPT stock opened at $121.32 on Monday. The stock has a market cap of $12.94 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 4.59 and a beta of 0.90. The business has a 50-day simple moving average of $116.43 and a 200-day simple moving average of $106.90. 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 has a 52-week low of $82.81 and a 52-week high of $127.23.

Camden Property Trust (NYSE:CPT) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($1.27). Camden Property Trust had a net margin of 25.64% and a return on equity of 7.98%. The company had revenue of $387.15 million during the quarter, compared to analyst estimates of $384.76 million. During the same period last year, the firm earned $1.70 EPS. On average, equities analysts expect that Camden Property Trust will post 6.77 EPS for the current year.

Camden Property Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 17th. Investors of record on Friday, June 28th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Friday, June 28th. Camden Property Trust’s dividend payout ratio is presently 100.98%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Camden Property Trust by 16.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 191,374 shares of the real estate investment trust’s stock valued at $18,831,000 after acquiring an additional 27,465 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Camden Property Trust by 3.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 160,309 shares of the real estate investment trust’s stock worth $15,781,000 after purchasing an additional 5,926 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in Camden Property Trust by 59.4% during the first quarter. Illinois Municipal Retirement Fund now owns 18,831 shares of the real estate investment trust’s stock worth $1,853,000 after purchasing an additional 7,018 shares in the last quarter. Pinebridge Investments L.P. purchased a new stake in shares of Camden Property Trust during the fourth quarter worth $1,374,000. Finally, Eminence Capital LP purchased a new stake in shares of Camden Property Trust during the fourth quarter worth $18,737,000. 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 58,634 apartment homes across the United States.