Evercore ISI Forecasts Strong Price Appreciation for Camden Property Trust (NYSE:CPT) Stock

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

CPT has been the subject of several other research reports. Scotiabank reduced their price objective on shares of Camden Property Trust from $132.00 to $130.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. JPMorgan Chase & Co. downgraded shares of Camden Property Trust from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $129.00 to $128.00 in a report on Tuesday, December 17th. StockNews.com downgraded shares of Camden Property Trust from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Mizuho dropped their target price 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. Finally, Barclays dropped their target price on shares of Camden Property Trust from $138.00 to $126.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. 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 Down 1.1 %

CPT stock opened at $118.46 on Monday. 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 1 year low of $90.50 and a 1 year high of $127.69. The company has a fifty day simple moving average of $115.30 and a 200 day simple moving average of $119.08. The firm has a market cap of $12.64 billion, a PE ratio of 78.97, a PEG ratio of 4.27 and a beta of 0.94.

Camden Property Trust (NYSE:CPT) last released its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $1.73 earnings per share (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%. Sell-side analysts anticipate 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. Stockholders of record on Monday, March 31st will be given a dividend of $1.05 per share. This is a positive change from Camden Property Trust’s previous quarterly dividend of $1.03. This represents a $4.20 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Monday, March 31st. Camden Property Trust’s payout ratio is 274.67%.

Insider Activity

In other news, Director Heather J. Brunner sold 1,853 shares of Camden Property Trust stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $114.50, for a total transaction of $212,168.50. Following the sale, the director now directly owns 10,537 shares in the company, valued at approximately $1,206,486.50. The trade was a 14.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard J. Campo sold 1,043 shares of Camden Property Trust stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $110.06, for a total transaction of $114,792.58. Following the sale, the chief executive officer now owns 299,092 shares in the company, valued at approximately $32,918,065.52. This trade represents a 0.35 % 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 worth $2,895,718. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Camden Property Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SMART Wealth LLC acquired a new position in Camden Property Trust in the third quarter valued at about $829,000. Nordea Investment Management AB boosted its position in Camden Property Trust by 15.0% in the fourth quarter. Nordea Investment Management AB now owns 97,907 shares of the real estate investment trust’s stock valued at $11,339,000 after buying an additional 12,805 shares in the last quarter. QRG Capital Management Inc. acquired a new position in Camden Property Trust in the third quarter valued at about $1,660,000. Franklin Resources Inc. boosted its position in Camden Property Trust by 3.2% in the third quarter. Franklin Resources Inc. now owns 193,685 shares of the real estate investment trust’s stock valued at $23,174,000 after buying an additional 5,985 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Camden Property Trust by 10.5% in the third quarter. Principal Financial Group Inc. now owns 538,876 shares of the real estate investment trust’s stock valued at $66,563,000 after buying an additional 51,097 shares in the last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.

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.