Camden Property Trust (NYSE:CPT) announced a quarterly dividend on Friday, June 14th, NASDAQ reports. Investors of record on Friday, June 28th will be paid a dividend of 0.80 per share by the real estate investment trust on Wednesday, July 17th. This represents a $3.20 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Thursday, June 27th.
Camden Property Trust has increased its dividend by an average of 3.5% per year over the last three years and has raised its dividend every year for the last 8 years. Camden Property Trust has a dividend payout ratio of 67.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Camden Property Trust to earn $5.30 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 60.4%.
CPT traded down $0.92 on Wednesday, reaching $104.89. 24,611 shares of the company traded hands, compared to its average volume of 500,954. Camden Property Trust has a one year low of $83.67 and a one year high of $108.22. The firm has a fifty day moving average price of $103.92. The firm has a market capitalization of $10.24 billion, a P/E ratio of 21.99, a P/E/G ratio of 3.17 and a beta of 0.47. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.57.
Camden Property Trust (NYSE:CPT) last posted its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 EPS for the quarter, meeting the consensus estimate of $1.22. Camden Property Trust had a net margin of 15.98% and a return on equity of 4.45%. The business had revenue of $248.57 million during the quarter, compared to analyst estimates of $246.50 million. During the same quarter in the previous year, the business posted $1.15 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts expect that Camden Property Trust will post 5.07 earnings per share for the current year.
In other Camden Property Trust news, COO H Malcolm Stewart sold 16,200 shares of Camden Property Trust stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $107.17, for a total transaction of $1,736,154.00. Following the completion of the sale, the chief operating officer now directly owns 149,537 shares in the company, valued at approximately $16,025,880.29. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Richard J. Campo sold 60,000 shares of Camden Property Trust stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $105.32, for a total transaction of $6,319,200.00. Following the sale, the chairman now owns 273,948 shares of the company’s stock, valued at $28,852,203.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,679 shares of company stock worth $12,211,588. 3.40% of the stock is owned by insiders.
CPT has been the subject of several recent research reports. KeyCorp boosted their price target on shares of Camden Property Trust from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Sandler O’Neill lowered shares of Camden Property Trust from a “buy” rating to a “hold” rating in a report on Friday, April 5th. SunTrust Banks lifted their price objective on shares of Camden Property Trust to $108.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Zacks Investment Research downgraded shares of Camden Property Trust from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Barclays reaffirmed a “buy” rating and issued a $108.00 price objective on shares of Camden Property Trust in a research report on Tuesday, April 16th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Camden Property Trust presently has a consensus rating of “Buy” and an average price target of $101.53.
About Camden Property Trust
Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns interests in and operates 161 properties containing 55,160 apartment homes across the United States.
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