Bank of America downgraded shares of Camden Property Trust (NYSE:CPT) from a buy rating to a neutral rating in a research note published on Thursday, Briefing.com Automated Import reports. The brokerage currently has $118.00 price target on the real estate investment trust’s stock.
A number of other equities research analysts have also commented on the stock. BMO Capital Markets reiterated a buy rating and set a $115.00 price target on shares of Camden Property Trust in a report on Monday, November 4th. Citigroup upped their price objective on shares of Camden Property Trust from $100.00 to $109.00 and gave the stock a neutral rating in a report on Tuesday, July 30th. KeyCorp upped their price objective on shares of Camden Property Trust from $112.00 to $117.00 and gave the stock an overweight rating in a report on Tuesday, October 8th. Capital One Financial upgraded shares of Camden Property Trust from an equal weight rating to an overweight rating and upped their price objective for the stock from $107.00 to $119.00 in a report on Monday, September 16th. Finally, ValuEngine lowered shares of Camden Property Trust from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $112.29.
Shares of Camden Property Trust stock traded down $0.15 during trading on Thursday, reaching $110.12. The company’s stock had a trading volume of 326,227 shares, compared to its average volume of 489,332. Camden Property Trust has a 52-week low of $83.67 and a 52-week high of $116.67. The company has a market cap of $10.85 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 3.22 and a beta of 0.39. The firm’s 50-day moving average is $112.64 and its two-hundred day moving average is $107.13. The company has a quick ratio of 0.94, a current ratio of 0.76 and a debt-to-equity ratio of 0.68.
Camden Property Trust (NYSE:CPT) last posted its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $1.28 by ($0.84). Camden Property Trust had a net margin of 16.22% and a return on equity of 4.53%. The firm had revenue of $260.67 million for the quarter, compared to the consensus estimate of $259.56 million. During the same quarter in the prior year, the company earned $1.20 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts anticipate that Camden Property Trust will post 5.02 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Monday, September 30th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Friday, September 27th. Camden Property Trust’s dividend payout ratio (DPR) is 67.09%.
Hedge funds have recently made changes to their positions in the stock. Nuveen Asset Management LLC boosted its holdings in shares of Camden Property Trust by 200.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,446,092 shares of the real estate investment trust’s stock valued at $255,348,000 after acquiring an additional 1,632,600 shares during the last quarter. Heitman Real Estate Securities LLC purchased a new stake in shares of Camden Property Trust during the 2nd quarter valued at about $73,647,000. Schroder Investment Management Group purchased a new stake in shares of Camden Property Trust during the 2nd quarter valued at about $28,765,000. Vanguard Group Inc. boosted its holdings in shares of Camden Property Trust by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 14,426,035 shares of the real estate investment trust’s stock valued at $1,505,934,000 after acquiring an additional 255,978 shares during the last quarter. Finally, TD Asset Management Inc. purchased a new stake in shares of Camden Property Trust during the 2nd quarter valued at about $24,027,000. 93.56% of the stock is currently owned by institutional investors.
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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