Camden Property Trust (NYSE:CPT) Hits New 1-Year High at $127.38

Camden Property Trust (NYSE:CPT)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $127.38 and last traded at $127.07, with a volume of 1070998 shares trading hands. The stock had previously closed at $125.25.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CPT shares. Bank of America upgraded shares of Camden Property Trust from an “underperform” rating to a “buy” rating and upped their target price for the company from $111.00 to $147.00 in a report on Monday, August 12th. Piper Sandler increased their price objective on shares of Camden Property Trust from $110.00 to $128.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Wells Fargo & Company upgraded shares of Camden Property Trust from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $104.00 to $127.00 in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Camden Property Trust from $90.00 to $115.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Finally, Truist Financial increased 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. Fourteen analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $121.69.

Camden Property Trust Stock Performance

The company has a market capitalization of $13.49 billion, a PE ratio of 30.70, a PEG ratio of 4.60 and a beta of 0.90. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.37 and a current ratio of 0.37. The company has a 50 day moving average price of $118.67 and a 200 day moving average price of $108.28.

Camden Property Trust (NYSE:CPT) last announced 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 return on equity of 7.98% and a net margin of 25.64%. The firm had revenue of $387.15 million for the quarter, compared to the consensus estimate of $384.76 million. During the same quarter last year, the business earned $1.70 earnings per share. Equities analysts forecast that Camden Property Trust will post 6.77 EPS for the current year.

Camden Property Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.25%. The ex-dividend date is Monday, September 30th. Camden Property Trust’s dividend payout ratio (DPR) is presently 100.98%.

Hedge Funds Weigh In On Camden Property Trust

Several large investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new stake in Camden Property Trust in the second quarter valued at $1,257,000. Coronation Fund Managers Ltd. lifted its stake in Camden Property Trust by 52.8% in the second quarter. Coronation Fund Managers Ltd. now owns 93,100 shares of the real estate investment trust’s stock valued at $10,158,000 after buying an additional 32,182 shares during the last quarter. Graham Capital Wealth Management LLC bought a new stake in Camden Property Trust in the second quarter valued at $2,541,000. Truist Financial Corp lifted its stake in Camden Property Trust by 3.4% in the second quarter. Truist Financial Corp now owns 18,105 shares of the real estate investment trust’s stock valued at $1,975,000 after buying an additional 599 shares during the last quarter. Finally, Waterfall Asset Management LLC bought a new stake in Camden Property Trust in the second quarter valued at $818,000. 97.22% of the stock is currently owned by institutional investors.

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.