Royal Bank of Canada Raises Camden Property Trust (NYSE:CPT) Price Target to $123.00

Camden Property Trust (NYSE:CPT) had its price target lifted by Royal Bank of Canada from $121.00 to $123.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Several other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. cut shares of Camden Property Trust from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $129.00 to $128.00 in a research report on Tuesday, December 17th. Barclays lowered their price objective on shares of Camden Property Trust from $138.00 to $126.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. 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 research report on Friday, February 7th. Wells Fargo & Company lowered their price objective on shares of Camden Property Trust from $127.00 to $120.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Finally, StockNews.com cut shares of Camden Property Trust from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $126.03.

Camden Property Trust Price Performance

Shares of NYSE:CPT opened at $118.46 on Monday. The firm has a 50 day moving average of $115.30 and a 200-day moving average of $119.08. The stock has a market capitalization of $12.64 billion, a PE ratio of 78.97, a PEG ratio of 4.27 and a beta of 0.94. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.72. Camden Property Trust has a 12 month low of $90.50 and a 12 month high of $127.69.

Camden Property Trust (NYSE:CPT) last issued its earnings results 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 3.32%. On average, equities research analysts predict that Camden Property Trust will post 6.8 EPS for the current fiscal year.

Camden Property Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, March 31st will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 3.55%. This is a positive change from Camden Property Trust’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, March 31st. Camden Property Trust’s payout ratio is presently 274.67%.

Insiders Place Their Bets

In other news, CFO Alexander J. Jessett sold 1,862 shares of the company’s 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 sale, the chief financial officer now directly owns 122,384 shares of the company’s stock, valued at approximately $13,469,583.04. This represents a 1.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Heather J. Brunner sold 264 shares of the company’s 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 sale, the director now directly owns 10,273 shares in the company, valued at approximately $1,130,646.38. This represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,413 shares of company stock valued at $2,895,718 in the last ninety days. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Camden Property Trust

Institutional investors have recently modified their holdings of the company. SMART Wealth LLC bought a new stake in shares of Camden Property Trust in the 3rd quarter valued at $829,000. Nordea Investment Management AB lifted its position in shares of 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 valued at $11,339,000 after acquiring an additional 12,805 shares during the period. QRG Capital Management Inc. acquired a new position in shares of Camden Property Trust during the 3rd quarter valued at $1,660,000. Franklin Resources Inc. lifted its position in shares of 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 valued at $23,174,000 after acquiring an additional 5,985 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of 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 valued at $66,563,000 after acquiring an additional 51,097 shares during the period. 97.22% of the stock is owned by 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.