Camden Property Trust (NYSE:CPT) Given New $127.00 Price Target at Evercore ISI

Camden Property Trust (NYSE:CPT) had its price target hoisted by Evercore ISI from $118.00 to $127.00 in a research report report published on Monday,Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

Several other equities analysts have also commented on CPT. JPMorgan Chase & Co. lowered shares of Camden Property Trust from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $129.00 to $128.00 in a report on Tuesday, December 17th. StockNews.com lowered shares of Camden Property Trust from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Stifel Nicolaus upped their price objective on shares of Camden Property Trust from $121.00 to $122.00 and gave the stock a “hold” rating in a report on Friday. Scotiabank decreased their price objective on shares of Camden Property Trust from $132.00 to $130.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. Finally, Mizuho decreased 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 report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $126.03.

Camden Property Trust Stock Performance

NYSE:CPT opened at $119.46 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.15 and a quick ratio of 0.15. The firm has a market capitalization of $12.74 billion, a price-to-earnings ratio of 79.64, a PEG ratio of 4.27 and a beta of 0.94. The company’s 50-day moving average is $115.42 and its two-hundred day moving average is $119.03. Camden Property Trust has a 1-year low of $90.50 and a 1-year high of $127.69.

Camden Property Trust (NYSE:CPT) last posted its earnings results on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share 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 3.32%. Analysts forecast that Camden Property Trust will post 6.8 EPS for the current year.

Camden Property Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be given a $1.05 dividend. The ex-dividend date is Monday, March 31st. This is an increase from Camden Property Trust’s previous quarterly dividend of $1.03. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.52%. Camden Property Trust’s dividend payout ratio is currently 274.67%.

Insider Buying and Selling at Camden Property Trust

In related news, CFO Alexander J. Jessett sold 1,862 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total value of $204,931.72. Following the transaction, the chief financial officer now directly owns 122,384 shares of the company’s stock, valued at $13,469,583.04. This trade represents a 1.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Heather J. Brunner sold 264 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total transaction of $29,055.84. Following the completion of the transaction, the director now directly owns 10,273 shares in the company, valued at $1,130,646.38. This trade represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,413 shares of company stock valued at $2,895,718. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CPT. SMART Wealth LLC purchased a new position in Camden Property Trust during the 3rd quarter worth $829,000. Nordea Investment Management AB grew its position in Camden Property Trust by 15.0% during 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 purchasing an additional 12,805 shares during the last quarter. QRG Capital Management Inc. purchased a new position in Camden Property Trust during the 3rd quarter worth $1,660,000. Franklin Resources Inc. grew its position in Camden Property Trust by 3.2% during the 3rd quarter. Franklin Resources Inc. now owns 193,685 shares of the real estate investment trust’s stock worth $23,174,000 after purchasing an additional 5,985 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Camden Property Trust by 10.5% during the 3rd 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 last quarter. 97.22% of the stock is owned by hedge funds and other institutional investors.

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.